Chapter 41: Selecting Account Opening Platforms

Surprise, there’s a reaction.

Even though fate couldn’t possibly have brought him here just to be a diligent employee, when Zhang Long realized he could use his ability on himself, he was genuinely excited.

Limited usage due to low levels? No license as a financial analyst, so he couldn’t pick stocks freely? It didn’t matter. The results were promising—so he would press on.

...

“Oh?”

Suddenly, Zhang Long clicked his tongue in admiration.

Today’s stock recommendations from Shengxin were surprisingly accurate. Two new stocks and three old ones—at least for today and tomorrow, there wouldn’t be any major drops; they might even rise.

That made sense. The five recommended stocks were all at technical or price support levels, primed for a rebound.

As long as no major events triggered a plunge, or unless institutions dumped volumes, the worst-case scenario was a stagnant price. A rebound was normal—a matter of probability.

He couldn’t see exactly how these stocks would perform next week, but as the saying goes, “wading by the river, you’re bound to get your shoes wet.” Without Zhang Long’s foresight into recommended stocks’ subsequent movements, could the trading supervisors control risk in time?

Absolutely not.

With his golden finger, Zhang Long could arrange positions for each client according to their accounts and psychological tolerance. Let profits run, cut losses when needed.

For profitable trades, exiting promptly went without saying. For losses, he would stress the importance of accepting losses and not fighting the market, urging clients to cut their losses and move on, minimizing the damage.

Chang Songjiang, Jiang Hao, and the others couldn’t predict the risks of holding a losing stock. Human nature is fickle, inherently selfish.

In such cases: when clients refused to sell at a loss, hoping for a rebound, would the supervisors still have the confidence to insist on selling?

If they forced a sale and the stock dropped, clients would say little—perhaps just stop saying thank you.

But if it rose afterward, they’d be cursed to death.

If they didn’t sell and the stock kept falling, clients would still blame them for not emphasizing risk enough.

One or two times—no need to wait for a third—the supervisors would be finished, losing client trust and the will to maintain the relationship.

The outcome was inevitable, just a matter of time.

...

“HSBC, UBS…”

After lunch, Zhang Long browsed the websites of several financial firms in the city, checking their strength and reputation. Online account opening wasn’t supported yet; he’d have to visit in person.

Still, appointments could be made on their official websites.

Whether close by or not, he’d received sales calls from plenty of securities firms before.

No matter how bleak the bear market, as long as financial companies opened their doors, their sales teams had to grind out results, telling clients the bull market was just around the corner, urging them to open accounts and make money—those classic sales pitches.

Zhang Long already had a plan.

He certainly wasn’t going to open an account at just one platform. He’d open at least three, either rotating trades among them or dividing his funds.

Today had also proved he could predict the outcome of stocks recommended by these platforms. The more accounts he had, the more recommendations he’d have to choose from, which meant better chances of picking the right day-trading stocks. If he relied on just one and its recommendations tanked, how could he trade?

Based on all that, he needed to pick large platforms with strong analyst teams.

Small companies lacked strength, sometimes their analyst teams were just one or two people, and their picks were too unreliable.

“No, this one’s not good.”

“Hmm? This one’s no good either…”

So, when Zhang Long came across a firm called Hongze, he immediately scrolled past. The reviews suggested their performance had improved last month, but the company was far too small.

Though he could keep opening and closing accounts, it wasn’t worth the hassle—three platforms were enough.

His target was clear: big players only.

So the whole afternoon passed with Zhang Long searching and browsing firms. Most he dismissed after a glance or two; a few he noted down for later. Only a handful did he actually make appointments to open accounts.

Tomorrow was Friday—he could go and get it done.

...

“Whew, just as well.”

At Hongze Financial, Qian Caiying had no idea her firm was dismissed by Zhang Long without a second thought. If she’d known, she might have lost her appetite for three meals out of frustration.

Hongze had its own analyst team—just two people barely holding the fort.

As for their competence and skills—well.

In October, Qian Caiying hadn’t seen a single stock pick from their analysts turn a profit. Most stagnated, which was tolerable, but any drop triggered panic. Several recommended stocks had plummeted disastrously.

If it hadn’t been for Zhang Long’s short-term strategies, Hongze would have had no performance in October at all.

When Zhang Long quit yesterday, she admitted she felt uneasy, but today, after seeing the stock report Chang Song sent her, she relaxed a little—the five recommended stocks hadn’t dropped.

Two of them were even on the rise—not bad.

“Let’s observe for another day,” Qian Caiying thought, her eyes glinting.

Chang Song claimed the short-term strategies were based on Zhang Long’s summaries of Shengxin’s recommendations, so the recent improvement in trading was thanks to the company.

Tomorrow was Friday, when the market would be closed and volatility would usually be higher. If Shengxin’s recommendations continued to be accurate, that would prove Zhang Long’s ability was entirely dependent on the company platform; after all, it was generally forbidden to recommend stocks to clients privately.

The analyst team’s recommendations were supposed to be the main guide, with no room for personal improvisation.

If nothing happened, fine. If something did, it could be a big problem.

Thinking of this, Qian Caiying decided to consult her best friend about replacing the analyst team—maybe poaching one or two truly capable professionals. After all, relying on another firm’s recommendations was hardly sustainable.

Even though the recommendations were tweaked, it could still be considered infringement if anyone wanted to pursue it. Not a long-term solution.

Ugh, more expenses ahead.

...

“Mr. Zhang, please come in…”

The night passed uneventfully. It was Friday morning.

Zhang Long arrived at one of the securities firms where he’d made an appointment, not to open an account immediately, but first to inspect their scale and strength.

First, the location: if the offices were tucked away in a shabby building, that was a red flag—no real presence.

Take Shengxin, for example—its current scale wasn’t huge, but at least it operated in Lujiazui’s financial center, projecting a professional image.

Of course, every financial firm listed its address on its website, so Zhang Long had already checked before coming.

As long as the analyst team of the firm he visited today was strong enough, he’d proceed with opening an account.

“Hello, I’d like to…”

He was greeted by the receptionist, neatly dressed and presentable—at least suitable for the front desk.

Zhang Long didn’t waste words and went straight to his request: he wanted to see recent analyst recommendations.

He needed to judge whether the company could provide solid support and guidance. After all, if he was just going to trade on his own, there was no reason to pick a big platform—there had to be an advantage.

“Certainly, please wait a moment…”

The young woman smiled. She didn’t have the authority, but she could call someone who did.

It was normal for clients to ask to see recent analyst data—they wanted to assess accuracy and capability.

That was easy enough; they’d never show the bad parts to a client. The results would be edited, of course.

In other words, a montage.

They’d compile the dates when recommendations were accurate, inserting a few acceptable losing trades in between, making sure the wins outweighed the losses.

The data was all real, but selectively omitted many of the inaccurate recommendations.

Reasonable enough—there are always wins and losses.

“Mr. Zhang, hello…”

A moment later, the authorized staff member arrived and got straight to business.

Zhang Long focused his attention and began to review the material.