Chapter 220: Chapter 206: Making a Fortune in the Futures Market (2nd update!)
"Lin Yun smiled slightly at these comments.
The Qingyun power bank, although astonishing to some, might not be too impressive to others.
As one person pointed out, when devices like televisions, computers, and phones first came out, they truly were sensational.
Compared to these, the technology of the Qingyun power bank wasn't much.
There were nearly ten billion people on Earth.
Lin Yun had no doubt that many of them were incredibly intelligent.
They would inevitably research and develop similar products to the Qingyun power bank.
Isn't that how technology advances, step by step?
The officials of the Cosmic Trading System explained that the reason they disbursed terminals across various civilizations was to accelerate their development, right?
If he merely purchased various high-tech products from the Cosmic Trading System and resold them on Earth, without contributing to humanity's progress, how would their civilization advance rapidly?
However, Lin Yun didn't fear being imitated or surpassed.
As for the Qingyun power bank, it was a product tailored using suppressed data.
Even if others released better products, he could easily surpass them.
Those who made comments seemed to have forgotten one thing.
Nearly every technology pioneer benefitted tremendously.
Especially with the advent of a mature product like the Qingyun power bank.
Firstly, he could make a fortune selling the Qingyun power banks.
And before others could develop better products, he could profit handsomely from selling other products.
Regardless, Qingyun power banks were a hit.
The speed of its popularity was somewhat unexpected for Lin Yun, but it did fit his original intention.
Originally, he planned to fabricate some hype using internet technology, but it seemed unnecessary now.
Next, Lin Yun turned his attention to foreign commodity futures data.
These two days were crucial.
Compared to gold futures- a much bigger market- the capital he put in wasn't much.
However, his short-term, large-scale capital investment drew the attention of some power players.
Initially, they let the price of gold fall several times, intending to force Lin Yun's capital out of the market.
At one point, Lin Yun's capital, which initially was close to $360 million, plunged below $300 million.
This gave Lin Yun a glimpse of the power of the big players and the market risks.
If he hadn't studied intermediate futures market knowledge, he might have suffered substantial losses and exited the market.
However, having studied intermediate futures market knowledge, he firmly believed his judgment was correct.
He didn't just stay in the market; when the gold price fell to a certain extent, he put the remaining $60 million in.
These past few days, those people repeatedly manipulated the market, and many long position funds were scared off. With so much in-and-out capital, those people began suspecting that Lin Yun's capital had left the market.
Today, the gold price rose to a certain extent, and they showed signs of manipulation again.
Lin Yun's previous investments of $300 million, combined with the subsequent $60 million, amounted to $430 million.
Out of that, $60 million were earnings from the first hour he started investing. In the past few days, the capital only increased by $10 million.
The market worked like that- you could earn a fortune quickly, or you could see your capital fluctuate, merely breaking even over several days.
Lin Yun already did well by reaching this level in these past few days.
However, Lin Yun felt a bit of regret.
Given the sharp fluctuations in gold futures prices these past few days, it would have been the perfect time to exploit the price difference.
Unfortunately, his skills were not enough to take advantage of this. Otherwise, he could have profited handsomely from these fluctuations.
Intermediate futures market knowledge was a bit lacking, Lin Yun sighed slightly.
He thought about advanced futures market knowledge.
If he had studied advanced futures market knowledge, could he have detected such changes?
However, learning that level of knowledge would cost ten thousand Spirit Crystals.
Lin Yun shook his head slightly.
It was too expensive- he'd have to revisit this idea later.
"Boom——"
While Lin Yun was looking at today's data, the price of gold futures finally took off. Large buy orders appeared one after another, pushing the price of gold futures up quickly. An hour later, the rise in the price of gold futures was capped at five percent.
"Sell!"
A slight smirk appeared at the corner of Lin Yun's mouth. His judgment was correct as expected; he immediately operated these accounts.
From start to finish, it only took one second.
At this moment, a large buy order appeared and immediately absorbed all of Lin Yun's orders.
A twenty-fold leverage with a five percent rise translated into a one hundred percent rise!
The capital doubled!
Lin Yun's $430 million immediately became $860 million!
"Wow——"
"The boss is amazing!"
In Shen City, inside the suite of Qingyun Hotel, the few traders who were monitoring these accounts saw this scene and cheered.
Honestly, in these past few days, the price of gold futures had hardly risen at all. At times, there were significant decreases, which made them worry.
They occasionally wondered whether Lin Yun had made a wrong move this time.
Several times, the price dropped significantly, yet Lin Yun didn't react much, which was unusual for him.
One of the traders even started withdrawing funds from his account out of worry.
Because Lin Yun had said before that if they won, he would share the profits, but if they lost, he wouldn't take responsibility.
He was worried about losing the money he had earned after so much difficulty.
Lately, the price of gold had been high. If it fell sharply, the loss would not be a small figure.
At this moment... After cheering, the trader suddenly looked disgruntled.
Because the accounts of his colleagues had almost doubled.
When Lin Yun sold those orders, he also sold their orders.
This was what Lin Yun had promised them earlier.
Because in this market, some opportunities vanish in a flash. A difference of a few seconds could create a stark contrast. Given the lag in Lin Yun's operation, they might not have time to react.
So, Lin Yun didn't share their money for nothing.
But now, the funds in their accounts had doubled. Even if Lin Yun took half, they still had remaining balance!
In just a few days, they had made a fifty percent profit- a formidable return for such a short period!
"So, the boss was waiting for this big opportunity the whole time..."
"Yes, I was scared to death several times when the price fell over these past few days!"
"We really hit the jackpot this time!"
"More than $400 million!" Experience exclusive tales on m v|l e'-NovelBin.net
Some traders said excitedly.
This was the most significant amount the boss had ever won and a new remarkable record.