Brief introduction of Mr. Kizawa: Kizawa, a famous trader in China, 1992 graduated from Beijing Normal University with a master's degree in philosophy. 1993 set foot in the stock market, 1994 entered the domestic futures market. Participated in thousands of battles in the domestic futures market, experienced more than ten years of thrilling futures speculation career, gradually formed a perfect trading strategy and skills, and had a deeper understanding of trading psychology. In 2005, Mr Kizawa's book Wandering Alone between Heaven and Hell-Confessions of a Trader was published in Chinese mainland and Taiwan Province, which aroused strong repercussions in the investment circles at home and abroad. At the end of 2005, the second edition of this book, One Dream in Ten Years-Confessions of a Trader, was published and became a best seller in the field of financial investment. At present, Mr. Kizawa is mainly engaged in professional investment services in stocks and futures. As an elite among domestic futures practitioners, Mr. Kizawa has rich trading experience and profound market investment concept. Invited by yongan futures, he gave a lecture on the concept, strategy and psychology of futures investment for investors. Kizawa: We are old friends of Liu Jingli. I 10 made a deal with their company many years ago and left in the middle of a few years, but I am still in their company. Today, they invited me. I am also very happy to talk to you about my experience and feelings in trading. It's not a lecture. I'm just talking about my experience in trading. Let me tell you this passage first. This issue will be mentioned in every lecture, whether it is futures trading training, lectures or lectures. Personally, I don't know if this is a good thing or a bad thing, including the publication of my book "A Dream in Ten Years". Originally, "A Dream in Ten Years" was more about the twists and turns in my trading life for more than ten years, and the experiences and feelings I realized. It should be said that it is a book of risky trading, which is difficult to succeed and risky. But in fact, after the book was really published, from the feedback information, it seems that everyone just ignored the risk awareness and the difficulty of futures trading mentioned in my book. The more I say that the transaction is difficult to succeed, the more I challenge myself, and the more I want to seize the market and the desire to succeed. Many friends made a deal because they read my book, and the final transaction result was the same as that in my book, which was not very good. So is our lecture. No matter how well I speak, I also know how profound I speak. After I have finished this kind of thing, and after you have listened to it, I doubt how much it will help your investment ideas, strategies and psychology in the actual transaction. This sentence is what I really think. No matter who says there is any trading secret and how good it is, your desire to learn from him is good, and the result may not be ideal. Futures trading, in my opinion, is really like a maze. It's easy to get into this maze, but it's very, very difficult to figure it out after you get in. I entered this maze about 90 years ago, and after groping in this maze for at least 89 years, I gradually realized what this science and engineering project was all about. It should be said that I haven't been able to surpass the maze and my position in it. On the way just now, someone asked me, I was joking. Actually, I'm here to give a lecture on futures, and I just touched the door of futures trading. I made an evaluation of my transactions in recent years, and divided the transaction level into four grades, high profit, low success rate of each transaction and all failures, which is the worst. The advantage is that the success rate is higher. For example, five out of ten transactions are profitable six times, and the transaction result still fails. In the third case, the success rate is not too high, and your transaction results are good and the highest. According to them, the success rate is high and the return is very rich, which is the best. I think this standard may be very general, and I don't fully agree with it. They gave me the test results. Why is it so difficult to get out of the maze of futures trading? There are countless reasons for the failure of futures trading, such as direction, Jinchang time, risk control, heavy trading, contrarian trading, whether the system and the market match, such as direct operating system, consistency, excessive profit positions and luck. I feel it is very difficult to do it in China. Why? It was sunny during the day, and after receiving the money, it was unrecognizable the next morning. This is a question of trading skills and ability. Trading changes every day, and we have to face it every day. From a local point of view, the success or failure of futures trading is indeed related to luck, and so on. There are many reasons, and success is very, very difficult. You solved so many problems. This question is just a simple list. If I say it again, there may be 50 reasons, 100 reasons. If we overcome them one by one, this may not be solved. Finally, if we must solve this problem, I should still have a relatively complete and systematic trading style. A friend who deals in futures has been doing it for 10 years. After that, he hasn't sharpened his knife for ten years, so it's hard to get out of futures trading. I also talked about it in the book. I don't want to talk about futures or gold, if I have to. As a futures trader who really wants to be a good person, I think it is more general on the issue of being a man, because the problems in strategy and technology, including market conditions, are specific and individual. After talking with you about these problems, it is useless to talk about them if they are related to your life, people's psychology, attitude towards life and quality of life. Long-term practice has proved that if I talk to someone about all aspects of futures, I will eventually lead another person to listen to me and read my book to do futures. I feel very ashamed. There is a book about a ferryman on the Styx. He is very young and is a friend or classmate. Tell him one or two pieces of news, and he really made money. In the end, he couldn't ask me to invest myself every day, and the final result was very, very bad. I just talked about his negative interest in futures trading. There are failures and successes. There are winners. I have met people who do futures, and they do well, which really makes me feel good. It's not that they do well in the legend, maybe only a dozen. Some foreign countries have done well, so leave it alone. The domestic futures market has been more than ten years. I have a friend, I took 2 million to do it, and he took 3 million to do it, in June and July. I invested 2 million and lost 5 or 6 million. He made 3 million into more than 30 million, and after this friend took out 8 million, it became18 million, which is also very good. 1996, the futures market was depressed, and he made stocks again. At the beginning of 1996, there were more than 600 stocks. This friend in the investment market is very successful. This friend's automatic trading method, his thinking, his courage, his risk awareness, his judgment on the trend, and the timing of his entry into the market are very impressive because he has been trading for a long time. Looking back now, this friend did a good job, and now he is also in Beijing and lives in Huilongguan. I'm surprised. From my current understanding of him, I am particularly surprised why he reached that level in 1994, 1995 and 1996. I clearly see that the price of the price version futures fluctuates violently every day. On one occasion, he may have placed five or six orders within a minute or two, and expanded the edition the next day, earning 40 to 50 million at a time. I think he is a genius, because he has vision, concept and courage to make a deal. Because there were few basic investment ideas at that time, and he could not have any teachers, I was also curious about how he got this thing. Does he have a teacher to teach him this kind of transaction? He said it might be a few years ago. In 1992, 1993 and two years, the stock market also lost a lot. The worst thing was that10 million lost12 million, and it did well in 1994 and 1995. He said that when you didn't see me lose money, this trading style and ability were really better. The third is the core issue of the futures market, which is homeopathic trading or risk awareness. This friend has done a good job, stepping on the overall pattern of China's investment market accurately. In 1996, when I was still doing futures, he stopped doing it. He went to make stocks. Originally, our partnership was going to be a fund in Shenzhen, which was very successful. This is a good friend who makes futures. Peking University, in the past few years, I have been in the same class with them, in the same class, in the futures derivatives class of Peking University, and the following students are very good. Because it is said that in a lecture, a dozen people did tens of millions, whether it was from Hainan, Dalian or Shanghai, some of them did well, indeed they did well. Some time ago, an intern child came to my office, which was introduced by a friend. He wants to discuss study with me. I thought I came to save face, so I just gave him half a month to practice. I have been here for two or three months and found that the investment level of children is already very high. At first, I thought he was bragging. Later, I checked it carefully and found that he did really well. Including our yongan futures, Zhejiang, and the Beijing Sales Department, some experts have done a very good job. A friend of mine also began to entrust me with financial management a few years ago. Later, he asked me to recommend him a master trader, and I also recommended one. At that time, I gave a sum of money and earned dozens of times in more than two years. Some people have successfully traded futures, but this is very rare. Of course, according to my understanding, this is not necessarily the case. If you want to be a futures investor, you must have about three abilities and qualities. There are three characteristics, which may not be true. I think for myself. A good trader, first of all, you must have this ability. People who see opportunities can see the real possibility of market transactions, or no market. You must have this distinction. This is the minimum. When the market can do it, the probability of success is higher. It is impossible to make a lot of money when you are bored. This is the first one. Have an innate advantage and a chance of winning. With this vision, this is one ... another, the ability to grasp the market trend. After you saw the opportunity, you could have made a million dollars by trading and ran away after earning 50 thousand. First of all, you should have the foresight and ability to trade. Ding Shengyuan drew such a thing, a color template. Seeing this colorful thing, it is difficult to see what pattern it is. If we look at the glasses inside, if you are not color blind, you can tell. If a person who does well in trading is a master, he may see the same problem in the market. The price of the market fluctuates every day, and everything behind the market and with general characteristics is good. People with trading ability are different from those without trading ability. For most investors, the market is always uncertain. Professional traders are sensitive to this aspect, when they can gamble and when they should make small bets. This transaction is equivalent to color blindness, and they should be able to see the opportunity of the transaction. From the trend point of view, there may be a trend behind the market price fluctuation. Successful traders must be able to grasp the cyclical trend of the market, whether it is up or down. This is a mode of thinking. Another approach is also possible, not necessarily to grasp the overall trend, but in local transactions, where does the success of short-term money transactions come from? It must be gambling. This gambling place is very good. If you invest100000, you will lose100000 in the worst case, or you may lose 30000 or 50000. There is no chance to win the local competition. This is the thinking mode of successful trading. You catch the trend and you win. In addition, seize the local points and opportunities, earn more and lose less to win. This is something I made myself. I drew two red lines. From my trading style, short-term (steady) trading, trading mode, my mode is 2B trading, such as falling back after a high shock, shorting, so the probability of success is relatively high, and this transaction is also profitable. The second time is the same. This opportunity comes again and again, and it is a short bet. I told my team's children that the weekly opening of crude oil was not very good, and the lines in front of the black line appeared at the top and bottom of the market. I knew it ten years ago, and I talked about it in Ten Years and One Dream. I once encountered this problem when trading in Hainan. If it collapses, the market will be the peak and that line will come out. There must be something wrong with the crude oil, and we will also make an external offer. For us, gambling has a certain chance of winning at this time. If the bet goes up, I can only cut it. I also realized that I must seize the opportunity and make a move. This is my advantage and I have a chance to win. This is copper. There is such a big black line where the arrow is. I don't care what the reason is, I must be short. Now our trading system may not have a short signal, but from experience, the market is likely to fall behind this black line. Of course, it may be the next day, so I will be miserable, but I think it is a gamble for me. This is an hour system. I'll keep adding money. The day before, I ran away because I couldn't gamble well. If good, I added more money, including rubber. After I made the place pointed by the red arrow for a long time, I obviously felt that this day was not easy, and the harvest was like this. The next day, the operation was the same, I added more money. After the trading system confirmed my judgment, I immediately thought of how to add positions. Plastic is similar. After seeing this form, I will make a transaction. Of course, this transaction will definitely not succeed. Including soybean oil, soybean oil, we made a lot of money. Why? Soybean oil has been consolidating for several months after its plunge. Four or five lines in front of the big black line are not really bullish. The market has also gone up in those days, and the market has not received much. This kind of transaction is very dangerous and is likely to collapse. Including gambling on this day, the probability is relatively high. Including white sugar, the breakthrough of white sugar is fake. I never want to make a breakthrough in sugar, and the same is true below. Why can't the sugar market break through? After his market is seriously overweight, the upward breakthrough is a trap, and the downward breakthrough is a trap. Sugar has not had a trend for a long time, but it feels that it may have a trend soon. A variety is always like this, and it goes back and forth. When you think that sugar will never break through and it will always be false, it may be true once, and the breakthrough of sugar may really appear. Therefore, when there are some special morphological structures and trend characteristics in the market, successful traders have keen eyes and profound market insight, and can find trading opportunities with advantages and chances of winning in the market. Some people can understand, but in fact you just need to make a deal that you can understand. For example, we have a friend who is doing well and a master in one field who is doing well. I think his deal has several characteristics. 1, homeopathic operation, this feature is obvious, inadvertently done, he wants to do homeopathic trading, buy a high point, and the result is top, the upward trend is to buy, the decline is short, and it will not reverse. Without such a short price difference, this trading concept is very obvious. 2. After the transaction enters the market, there is a strong sense of self-protection. 3. The trading style is mature and stable, and the principle of entering and leaving the market is always implemented. The consistency of the movements is very good. It can be said that it is quite mature traders who can achieve this state. For example, after the fuel breaks through the high point, it will buy. In just a day or two, the profit will be very large. The spectacular rise of soybean oil, a few years ago, actually went up all the way. There may be three or five hundred warehouses below, always online's, and even more in the middle. The same is true of zinc trading. It is not surprising that you can earn so much money with a big airdrop after the breakthrough. We do these transactions, just like the soybean transaction a few years ago, because I also talked about the green line in my book. In the big bull market, the market price is around here, and the risk may be low. After buying this kind of transaction, if you can stick to the time difference, the profit should be very, very rich. For example, at the beginning of the year, we continued to make rubber. This is the general direction, actually entering the market, actually using other thinner winds.