Chapter 311 - Bad Start on Margin Trading
The next morning, Shi Lei’s phone buzzed as he received a message.
It was from Wang Kaiming. He gave Shi Lei a number and told him that this person would be Shi Lei’s specialized servicer. He could call this person for anything about margin trading.
Shi Lei gave Wang Kaiming a call and Wang Kaiming expressed politely that he was worried that Shi Lei was still sleeping, so he didn’t dare to call Shi Lei.
Shi Lei asked Wang Kaiming to explain how margin trading worked. He could actually use the phone client to finish the registration as Wang Kaiming had already given Shi Lei’s account permission to accept margin trading.
Shi Lei thanked him and hung up.
There was a few minutes until the opening of the market and Shi Lei climbed up from the bed. He sat in front of his computer and began to study the prices for competition.
After the opening quotation, Shi Lei began to analyse the k graphs of the few stocks which he had paid more attention to recently, and realized that something was wrong after an hour.
Previously, Shi Lei picked the stocks which had potential in growth to analyze, and the stocks he picked today were of the same type. Shi Lei analyzed from all aspects and these stocks indeed had enough space for growth.
He suddenly realized that he shouldn’t be limited to the norm. Hence, he shouldn’t be looking for stocks which had great potential, but he should find stocks with big falls and rises. The bigger the fluctuations, the more beneficial it was to Shi Lei. So, perhaps a stock wasn’t doing well in the market and perhaps it will fall in the future, that was the kind of stock Shi Lei should pick. To be honest, it was way easier to find stocks which fell significantly than those that rose in China.
Shi Lei put the opening aside and began to browse related financial news to find the falling stocks.
He then began to analyze the normal K graphs. Of course, he wouldn’t throw the bad-looking stocks aside like before, but he paid more attention to the vulnerable stocks.
After the closing around noon, Shi Lei continued to study and eventually decided on three stocks which were available for margin trading. According to these three stocks’ recent performance, they were obviously at the point where they had risen to their limit and might drop significantly in the near future.
After hesitating between them, Shi Lei picked the oddest stock. He tapped the Investment Card on his phone and entered the code for the stock.
Shi Lei selected the time period of one week out of habit, but realized that something wasn’t right when he was about to press the “confirm” button.
The stock’s pattern was extremely strange and it could be described as big falls and big rises. It grew rapidly, but was followed by significant drops, and Shi Lei didn’t know what the dealer wanted. It was obviously the best option for Shi Lei, as he could buy both rising and falling stocks. However, it wasn’t suitable to check the results a week later due to its strange patterns. After all, Shi Lei only bought stocks previously with growth potential, hence checking the result after a long period of time was more appropriate. Now that it didn’t matter whether it grew or fell, he could shorten the time period.
After a moment of consideration, Shi Lei eventually typed in the price for two days later.
The screen changed after he pressed confirm and the price of the stock in two days appeared.
But why did the number look so familiar?
Shi Lei shook his head. He looked at the 18.33 yuan on his phone, then looked at the price of the stock on his computer...
Damn, no wonder it looked so familiar. It was exactly the same, at the price of 18.33 yuan.
Did it really have to stay the same?
Shi Lei thought that he would only earn even if the fluctuation wasn’t big and he wouldn’t waste any more chances to invest. But it was his last chance to use the card, and the first time he attempted margin trading it was a stock that neither rise nor fell, and he had to compensate for service fees after he bought it?
Such poor luck!
Shi Lei was extremely upset and threw the phone on the couch.
“Fuck, Black Card, are you the one who’s behind it?” Shi Lei glowered at the computer screen and felt horrible.
It was already noon and Shi Lei hadn’t brushed his teeth nor washed his face after getting out of bed around 9 AM. He didn’t drink water, let alone eat any food. But what did he get in return? A situation where a stock didn’t rise or fall. Shi Lei eventually felt hungry.
Shi Lei rushed to the bathroom to wash up and went downstairs to hunt for food. He was extremely gloomy as he thought that he wouldn’t waste his chance to use the Investment Card, but he did.
Shi Lei ordered fried rice and he felt it tasted like wax as he fed himself.
There were people talking on the table behind him.
“Old Chen, how is it going recently?”
“Don’t even mention it. I bought a stock two days ago and it stopped after a growth spurt on the next day’s afternoon. I was really happy and had a good drink with my bros. I passed out and couldn’t wake up the next day. But when I opened my computer to check that afternoon, it stopped after a fall. I waited for a whole morning today and sold it at a low price, but as soon as I sold it, it grew again. So after all this time I only earned the money for the drinks.”
The other person laughed, “Hahaha, it’s good enough that you didn’t lose any money buying these roller coaster-like stocks. Perhaps it will fall again this afternoon. If you didn’t sell it, perhaps you won’t be able to if it falls significantly.”
Old Chen agreed, “Well, it’s opened again, let me check.” Quickly, he yelled, “Holy shit, is your mouth blessed by God? 300,000 yuan for single sell... Holy, another 200,000 yuan… It’s going to stop soon… Oh my god, it actually stopped… This is too intense, luckily I sold it in the morning, otherwise it would be what you said.”
Shi Lei wasn’t in the mood to listen to those two talking, but he suddenly noticed something.
Just because it remained the same after two days, it didn’t mean that it didn’t rise or fall within those two days.
What if it was a situation like this? Perhaps it rose and fell, or fell before rising, it may lead to the price remaining the same after two days. But it didn’t necessarily mean that it didn’t fluctuate at all during the two days.
If he bought the correct one, he could still earn money. The only problem was that he had to guess whether this damned stock will rise first or fall first.
If he made the wrong assumption, he wouldn’t lose too much. He just had to wait patiently until the second day and sell the stock at its original price. The worst scenario would be paying for the service fees.
Shi Lei smiled.
It wasn’t important whether it fell or rose anymore. The loss would at most be the service fees. He had fifty percent chance to earn money, so all he had to do was to buy the stock.
Shi Lei was hyped at the thought. The fried rice tasted more delicious as he quickly finished it and flew back to his apartment. Seeing that the stock had stayed the same, he quickly bought it. No matter what, he should use it now that he was allowed for margin trading.
Next, Shi Lei just had to keep his attention on this stock tomorrow…