Those who choose to close their positions at the top often make the least money in the end.

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If the market conditions are violent, floating profits may even directly turn into floating losses.

This is also a common thing.

Just in the afternoon, the latest economic data from the United States was released.

U.S. import price index monthly rate in October:

Previous value 2,

Expected 2.1,

Published value -0.1

As soon as this data is released.

It immediately began to bearish on the US dollar, and in turn the GBP/USD, which was already on fire, became even stronger.

GBP/USD is rising uncontrollably again.

Abel immediately said to David: "Ask the traders to increase the number of closing lots for each account they operate."

Now that the market is better, more heads will enter the market.

There are also many short positions that have been stopped and closed, and there are a lot of buying orders in the market.

It can be hedged with the closing order of Smith Capital to avoid profit retracement as much as possible.

This black swan incident also made Smith Capital, which originally took at least a week or so, completely leave the market.

The speed of departure was accelerated several times.

The result of the crazy liquidation of positions was to a certain extent that it suppressed the rising trend of the pound-based currencies.

But it won't be that simple.

"Talent" allowed Abel to leave the field at this time.

This means that it is the right thing to do.

Half an hour later, another new US economic data was released.

U.S. industrial output monthly rate in October:

Previous value 2.

Predicted value 2.

Published value -0.3.

Like the previous monthly rate of the U.S. import price index, this data is once again negative for the dollar.

Because Smith Company closed its positions with some capital and left the market, the pound-based currency exchange rate, which was slightly suppressed, once again received help.

In addition, at this moment, there are many short sellers in the market who have stopped their losses.

GBP/USD was further pushed up, rising from 14700 to 14740, a total of 40 points in half an hour.

The traders of Smith Capital naturally liquidated their positions frantically again.

Such a good opportunity to leave the market at a high position can only be encountered once or twice at most.

I don’t know what happened today, but I came here twice.

For Smith Capital's capital exit, this means that it is accelerating, and there is another acceleration, which is about to become a super acceleration.

The result was a rise in GBP/USD, which was quickly suppressed by Smith Capital's frantic increase in the number of positions closed.

GBP/USD began to fluctuate at a high speed in the 20-point range of 60.

Half an hour later, GBP/USD fell all the way, finally falling to 14705.

David was a little nervous at this time.

He went to Abel: "Boss, should we reduce the number of lots to close the position now?"

Smith Capital's unscrupulous liquidation of positions caused the selling orders in the market to completely exceed the buying orders in the market.

Let GBP/USD turn around and fall all the way down.

In this case.

When Smith Capital closes its long positions, it is equivalent to short selling in the market.

How many long positions are closed means how many more selling orders are added to the market.

When the person who takes the order sees this situation, he will also murmur in his heart, beware that the price will start to fall, and start to reduce the number of positions to be closed.

At this moment, David became more and more nervous.

I am afraid that if Smith Capital continues to close its positions, GBP/USD may plummet.

After all, it is easy to get large amounts of money in, but it is very difficult to close out the position.

Now they have only lost 1 million hands, and there are still three-quarters of the market left.

And this is already a crazy speed.

Under normal circumstances, so much money has to leave the market, and if you want to maintain profits

It will take at least two days.

And so far today, it has only been going on for about two hours!

After hearing what David said, Abel pondered for a while and said, "Slow down, but continue to close the position."

"Waiting for the next US economic data."

"If the data is bad, we will continue to increase the position and close the position. If the data is very good, we will continue to increase the position and close the position."

"Don't worry about GBP/USD falling sharply."

The talent told him that this did not happen.

Soon the preliminary value of the University of Michigan Consumer Confidence Index for November in the United States will be released.

Previous value 822

Predicted value 832

Published value 802.

This data is very bad, once again negative for the US dollar and bullish for GBP/USD.

GBP/USD has surged again at 14705.

But this time, its rising momentum seems a bit unstoppable.

In one hour, it went from 14705 to 14790, and it was about to break through the high of 14800.

At this time, in Manhattan, at Three International Financial Center, the headquarters of Merrill Lynch.

Stanley O'Neill, one of the presidents who has ousted much of the power from CEO David Komansky, is talking to Charlie Scharf, the company's chief financial officer.

The conversation took place on the trading floor of Merrill Lynch's International Foreign Exchange Investment Department.

Through the glass wall of his office, Stanley O'Neill looked at the nervous traders outside.

While looking back at the specially marked, latest real-time pound currency exchange rates.

"It's been half an hour? Haven't you found out yet? Charlie?" Stanley O'Neill suddenly looked behind him, Charlie Scharf, who was operating the computer to communicate with the company's internal staff.

The CFO of Merrill Lynch wiped the sweat from his face and said loudly:

"It's been found out! It's basically been confirmed that the market maker is probably Smith Capital!!"

"They were long before, and now they are closing their positions. The liquidation is very strong, and they have become short in a certain sense."

Stanley O'Neal, currently the most powerful black man on Wall Street, frowned and said:

"Is it really them? With so many closing orders, this guy's investment in the foreign exchange market seems to be a huge amount of money."

"It must be huge." Charlie Scharf said: "Just through our Merrill Lynch funds, there is as much as a billion dollars!"

Stanley O'Neill couldn't help but shook his head, "Then if he chooses to close his position at this time, that's really not a good idea."

The reason why the black president said this is because he is one of the giants of Wall Street.

Merrill Lynch and other giants have already received inside information early.

That is the relevant economic data in the United States released in the past two or three days.

All negative for the dollar.

In other words, it will benefit world-class currencies that are slightly stronger.

Mainly pounds, euros and yen..

These currencies will all rise on the release of this data.

If Smith Capital chooses to close the position at this time, it will lose this part of the rising profits.
To be continued...