From 1993 to 1996, Shanghai japonica rice incident, "March 27" national debt incident, Hainan palm oil M506 incident, Guanglian indica rice incident, Suzhou red bean 602 incident, rubber plate 9607 incident, Guanglian soybean meal series forced warehouse incident, Hainan Shangzhong R708 coffee incident, Dalian corn C5/kloc-. In these sensational events in the futures market, Liu Zengcheng tasted the sweetness for the first time. At 1993, he turned 65438+ 10,000 yuan into a million, completing the first leap. However, the outbreak of the "3.27 national debt incident" brought Liu Zengcheng's wealth back to the original point. 3.27 National Debt Event is a landmark event that sensationalized the futures industry in China. 1994 the total turnover of the national treasury bond futures market reached 2.8 trillion yuan. On February 23rd, 1995, the issuance of 1995 new bonds announced by the Ministry of Finance was regarded as bullish by market participants, and the news of "327" national debt discount became increasingly clear, which led to an upward breakthrough in the national bond futures market.
The main short seller of SSE 327 contract failed to close at the price of 148.50. After the market soared, it deliberately violated the rules. After 16: 22, the empty side made a large number of overdraft transactions, and the price was reduced to 147.50 yuan with a huge number of empty orders of 10 million lots, which led to a sharp fall in 38 yuan of the 327 contract and a full-line explosion of long positions opened that day, resulting in what the outside world called "Bahrain incident in China". On May 17, China Securities Regulatory Commission decided to suspend the trial trading of treasury bonds futures because China does not have the basic conditions to carry out treasury bonds futures. Liu Zengcheng was the witness and victim of "March 27 National Debt Incident". Under the illegal manipulation of funds, the futures price of the main contract plummeted, and the price difference with the far contract was extremely unreasonable. From the perspective of risk, he chose a relatively low-risk trading method, that is, arbitrage trading. He bought the plunged 327 contract ten minutes before the market closed and shorted the 3 19 contract lock three minutes before the market closed. The theory is perfect, but the result is counterproductive. Due to violation of regulations, the relevant departments have zeroed all the transactions of the 327 main contract, while the transactions of the 3 19 far contract are still valid. In this way, the first "explosion" came inexplicably, and the short-term continuous daily limit of the 3 19 contract caught him off guard and could not escape.
In addition to the "3.27 national debt incident", the Guanglian soybean meal series forced warehouse incident, and Hainan Coffee's seven consecutive daily limit. , are all failure cases that Liu Zengcheng will never forget. It was these failed experiences that made him discover and overcome his weaknesses and defects and become more mature. Liu Zengcheng realized that it is impossible to guarantee the income only by market judgment, and it is extremely important to set a stop loss in futures trading. There must be a strict plan and strict execution in the transaction.
From 2006 to 20 10, Liu Zengcheng participated in the national futures real trading competition for five consecutive years and won the top ten. 20 10 won the national runner-up of trend investment award and mixed investment award with a huge yield of 68.9%. Excellent and fierce trading style, as well as the ability to maintain stable and rich profits for many years, make it known as the "winning general" in the futures market by the domestic mainstream financial media. Liu Zengcheng improved his operation level by participating in real futures competitions. In years of real competition, Liu Zengcheng has made a lot of profits from copper, and has been doing more since the price of copper rose by 40 thousand to 80 thousand. At the end of 2007, after reaching the peak, palm oil prices fell and sold short. In just 10-20 trading days, the income has doubled. Liu Zengcheng also grasped that the cotton price of 20 10 doubled from 17 to 34,000.
In the 20 1 1 annual championship, Liu Zengcheng made a lot of profits by successfully operating rubber, plastic, cotton and other varieties. Compared with other varieties, cotton is the best variety cultivated by Liu Zengcheng. 20 1 1, he has been focusing on cotton. At that time, he operated cotton 120 1, but then the spot price of cotton plummeted, and he immediately made a decision to close the contract of 120 1 to the contract of109. Thanks to this successful operation, he made a fortune in the game and overtook his opponent.