Chapter 129: Tying Dragon Zhang Up and Taking Him Home, Cashing In on Foreign Exchange

Huitong, a foreign exchange platform.

Zhang Long had conducted a brief investigation and found its reputation and credibility to be quite decent. It had been operating for many years without any issues or sudden disappearances, so it likely wasn't a Ponzi scheme. Of course, in the domestic market, foreign exchange trading lacks absolute regulation and legality; there is only a relative sense of it.

However, as long as the platform is large enough and has sufficient depth, it likely wouldn't shut down and run away over a small amount of profit.

...

January 25th, Friday morning.

After managing his stock trades, Zhang Long arrived at a branch of the Huitong foreign exchange platform. As for his futures account, he left it untouched. He had tried to place two small trades on his own over the past two days and lost on both, so he decided to let it sit and wait until he could trigger his "foresight" ability before trading formally again.

The 500,000 in capital would just stay there; it was safe enough, and he wasn't unlucky enough for them to go out of business.

"Two losses in a row?"

At the Jun'an Futures trading department, Ni Meng nodded. "But the trades were small. She lost about 50,000 across the two transactions, and then didn't do anything yesterday."

"He just called and said he was busy with something outside, so it looks like he won't be trading today either."

"Understood. Continue tracking him."

After the department director understood the communication status between Ni Meng and Zhang Long, he didn't ask further. A loss of 50,000 out of 500,000 is not much, but it isn't little either, as it accounts for one-tenth of the principal. As long as the client is mollified, it's fine. At least from the current communication, the client has no intention of withdrawing funds.

As long as he doesn't withdraw the money, it's fine.

Meanwhile, Zhang Long was at the Huitong branch learning about foreign exchange trading. He hung up the phone and continued the conversation.

If spot trading is connected to international market trends, converting local currency into foreign currency for trading, the difference between the buy and sell price is essentially the currency exchange fee. Just like the spot trading interface at Huiyin Dingxin, a single "in and out" transaction costs 8 points in fees. That is how it works.

Foreign exchange requires converting local currency into US dollars to enter the market. Both deposits and withdrawals incur a currency exchange fee. Furthermore, there is a spread between the bid and ask prices in the market, though it seems cheap because the difference is relatively small.

In reality, it is quite expensive. If you entrust a trader to manage your account, they will churn your funds relentlessly. Traders mostly earn money from handling fees, commissions, and rebates; they rarely profit from actual gains because it is difficult to do so. Unless one has the ability and skill, like Zhang Long, whose agency trading for Hongze is equivalent to being a professional trader—earning from net profit rather than commissions.

...

"Pleasure doing business with you, Mr. Zhang."

After opening the account at Huitong, Zhang Long didn't linger and left immediately. The funds, like his futures account, would be kept at 500,000 for now to test if he could utilize his foresight.

However, the actual activation would have to wait until next Monday; the response he received was that currency exchange takes time.

Moreover, withdrawals from foreign exchange platforms are very slow. Spot trading is instantaneous, while foreign exchange takes about 1-3 days. Again, the excuse was that currency exchange takes time.

A single foreign exchange platform allows for five accounts, and funds can be transferred between them, which is convenient. Different sub-accounts can be used for trading different currencies, though generally, there’s no need to distinguish them.

British Pounds, US Dollars, Japanese Yen, Australian Dollars, Gold—these are all popular foreign exchange trading pairs. If there is a need to distinguish them, he would, otherwise, he wouldn't bother.

"Spot trading is still more convenient."

On his way home, Zhang Long sighed to himself.

Comparing the two, most spot trading platforms are domestic, so there is no need to worry about currency exchange issues for deposits and withdrawals. Plus, the fact that withdrawals are instantaneous is very satisfying, unlike the 1-3 day wait for foreign exchange.

Furthermore, there are many varieties in spot trading, but Zhang Long only traded silver. The volatility was impressive enough that he didn't need to look at other assets; one was enough.

Sometimes, trading too many varieties just makes one's head spin, as every asset has its own trend. One rises while another falls.

If you get them confused during analysis, it’s game over. Even with normal analysis, one might not make money anyway. Like spot trading, foreign exchange has no limit on gains or losses. If you hold onto a losing position, the pressure is intense—enough to make your blood boil and your eyes turn red, breathing as heavily as an ox.

Once you can no longer hold the position and are forced into liquidation, you are finished.

Therefore, after thoroughly understanding foreign exchange trading today, Zhang Long's interest plummeted.

It was mostly because of the hassle of converting currencies back and forth, and the 1-3 day wait for withdrawals. If the platform restricted withdrawals after he made a profit, or simply froze the account because they couldn't afford to pay, that would be even more infuriating—and that possibility wasn't non-existent.

Let's see. He would activate the foreign exchange account first. If he could use his foresight to trade, it would be a waste not to. He would just make sure not to accumulate too much profit before making a one-time withdrawal.

In short, take whatever he can get.

...

"Over 2 million, not bad."

On Friday afternoon, when the stock market closed, Qian Caiying murmured to herself, looking at the 2 million in profit the agency account had made that week. As expected, he could control the points.

One must know that at the beginning of this week, the agency account had 20 million in funds, a significant amount.

A profit of over 2 million is only a 10%+ return, which for Zhang Long, is not much at all.

There is another point: the agency account's 10 million principal doubled in a month and a half. In the current bear market, how many retail investors are actually making money? Very few.

If nothing goes wrong, the funds in this agency account should reach 25 million by the end of the month, with a net profit of 15 million.

Damn, the net profit of Hongze after working their fingers to the bone for two months hasn't even reached 5 million.

Comparing the two, it's quite heartbreaking.

"Damn, the world has changed."

At this moment, Qian Caiying felt a mix of frustration and self-deprecation. Fundamentally, the purpose of working is to make money and realize one's life value; those are the only two reasons.

But now, she works herself to the bone from morning till night, running a company and handling business, yet she doesn't earn as much as Zhang Long does by tapping his fingers at home. It’s embarrassing.

Comparisons are odious. She even had the fleeting thought of just kidnapping Zhang Long to be her son-in-law; it would be much less of a headache.

Need money? Just make a few moves in the stock market, and it's done.

"Hey, what's wrong with you?"

Ling Zhiqing arrived. It was Friday, and the company wasn't working overtime. Before leaving, she stopped by to see her best friend, finding her lazily reclining in her swivel chair, staring blankly at the ceiling in a melancholy mood.

"Nothing, just suddenly felt that life is meaningless. Working so hard feels pointless."

"Then go die."

Ling Zhiqing rolled her eyes and retorted sharply, "You are already living a more meaningful life than the vast majority of people. You have money, food, drink, and entertainment. If your employees knew you were in this state, would they feel balanced?"

"Never be discouraged."

"Okay, I get it."

Qian Caiying surrendered, perked up, and stood up. "Let's go, let's go to a bar and have a few drinks."

"Let's get drunk tonight."

...

"Phew, got the license."

The next morning, Zhang Long and Lin Yuan went to the driving school to pick up their licenses. From this moment on, they were officially licensed drivers who could hit the road. They were very happy.

Afterward, they went to the BMW 4S dealership to check on the progress of their car pickup. They could pick it up in two days.

A BMW 740. It was ready to be driven.

"By the way, Ah Long."

"What are you planning to do after the New Year?"

For lunch, Lin Yuan treated him to a Sichuan restaurant. Although Zhang Long could have paid, Lin Yuan shook his head; there was no need. He could afford to treat.

Just like when Lin Yuan and Du Hong's group hung out, they never spent money; whoever took the lead paid.

There was no way a "big brother" or "big sister" would let a younger brother pay. Lin Yuan considered himself the big brother.

Zhang Long didn't care; a free meal was a free meal.

"After the New Year? I don't know yet."

To be honest, Zhang Long had thought about it but hadn't made any concrete plans. After finishing his "wool-pulling" in spot trading, his assets had grown. After acquiring a luxury home and a luxury car, what else was there to pursue? Nights of debauchery and indulgence?

He compared his situation to Lin Yuan's and shook his head. A person must have a career.

He couldn't just be an unemployed loafer with no skills.

"Why don't you join Sister Hong's place?"

Lin Yuan said while eating, "Sister Hong actually thinks quite highly of you. At least you aren't a gold-digger or a sycophant. Now that you're driving a BMW 740, you should get out there and show it off."

"What's the point of having it if there's no audience?"

Zhang Long sweated. Was this guy's brain wired differently? He really didn't know how he had survived until now.

"You've already passed your CFA Level 1. Leading a trading team at Sister Hong's would be great."

"Making hundreds of thousands a month would be no problem."

As for Lin Yuan, although his income at Tenda Home Decoration wasn't huge, his expenses for food and drink were all reimbursed. His mother also gave him pocket money, so he wasn't short of cash. In the future, he would also be able to steer the helm at Tenda Home Decoration.

So he wasn't envious of Zhang Long or Du Hong; everyone had their own path and development, as long as it wasn't bad.

...

In the end, Zhang Long declined Lin Yuan's proposal. Whether it was Lin Yuan's or Du Hong's idea, he considered it his final refusal; there was no need to bring it up again.

It wasn't that he was being resistant or disrespectful, but everyone has their own pursuits and the right to choose.

Just like how Lin Yuan ultimately didn't join Du Hong's spot brokerage firm, but could still attend her parties as a friend.

"Is everything okay with your family?"

In the evening, Luo Man came to the Bund after work to meet Zhang Long for a date. They didn't stay at home but went to the mall instead.

They would have a nice dinner and then go home for some passion; he couldn't be bothered to tidy up at home.

"Yeah, everything is fine."

Ever since she opened up, Luo Man used Zhang Long's supplementary credit card for most of her expenses. At the very least, the pressure of life and her sister's medical bills was gone.

As for the heart transplant, Luo Xin had always refused to accept the heart of a stranger.

Of course, it was also out of pity for the surgery costs and the subsequent series of recuperation expenses; she didn't want to be a burden anymore.

But to Zhang Long, whether it was the heart transplant or the series of post-operative expenses, it wasn't much. One million? Two million? He could take it out whenever he wanted.

The cards he used for stock investments were not from the bank where Luo Man worked, so he hadn't revealed them yet.

At the very least, Luo Man didn't know Zhang Long's current net worth—not just a few million, but over a hundred million.

Otherwise, she would probably be stunned into silence.

"Phew, the New Year is almost here."

After dinner, they returned home, bathed together, and then tumbled into bed. Afterward, Luo Man leaned into Zhang Long's arms and sighed. In less than twenty days, it would be the New Year. She had a vague desire to invite Zhang Long to her home to meet her family.

"Yeah, the New Year is almost here."

It was a melancholy question. In this world, Zhang Long had no relatives. Even though Luo Man's warm body was in the same bed, he still had none.

In the end, Luo Man didn't voice the invitation for Zhang Long to spend the New Year at her home, and Zhang Long didn't bring it up either.

Just like that, Monday arrived in a flash.

No mention of stocks or futures for now.

"Hmm? Awesome!"

Zhang Long, in front of his computer, suddenly let out an exclamation. Huitong had sent him advisory information on three assets: Japanese Yen, British Pound, and Gold. The first two triggered no reaction.

But for Gold, his "foresight" had been triggered!