Chapter 11

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Translated by Heavenly Cat

Read it only at Novelbyu.com & Utoon.net

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“Oh my. Jin-ho. You’re here? Isn’t it too early to come to work? You could come in a bit later. You’re not a junior anymore, you’re a senior, right?”

Deputy Yang Mi-ju.

Something’s burdensome.

A person who was snapping at me and Deputy Lee from morning is suddenly smiling brightly.

Well, did she hit a jackpot in stocks somewhere?

“I guess so. It’s become a habit for me.”

“Hoho. You’ve only been coming to work for how long and it’s already a habit? You’re such a diligent and good person. Right? Plus, I heard your return rate yesterday was the highest among all departments? Thanks to you, I feel very reassured.”

“..”

From those eyes to her actions, everything was so burdensome that I just briefly acknowledged the greeting and quickly escaped to my seat.

‘I can’t get used to this.’

Originally, my spot was a cramped desk with just one monitor.

But now, with 6 monitors alone plus a keyboard with various additional functions and other equipment, everything was stylishly set up.

Don’t they say everything new is good?

Indeed, my spot looked much cleaner and more modern than other traders’.

‘But there’s nothing to do until the market opens.’

Originally, I’d be running around diligently with Deputy Lee Hye-rin, printing materials to distribute and preparing for meetings, but that life ended yesterday.

Because the two juniors newly assigned to our team were doing that work instead.

“Um, Assistant Manager. Here are today’s materials from the research department.”

“Ah, yes. Thank you.”

I always used to distribute materials, but now I’ve become the one receiving materials from juniors.

Well, you can look up materials on the computer, but for meetings you need printouts like this, so on days with lots of materials, I’d be in front of the copier all day.

‘Those people probably have more seniority than me. I feel bad for no reason.’

But don’t financial companies evaluate performance before years of service?

Securities firms especially sign individual contracts, and if you don’t get a certain score in monthly evaluations, the contract is automatically terminated.

It was a scary place.

Someone you saw today could suddenly disappear the next day after evaluation.

“Jin-ho. As expected, you came early.”

“Ah, yes. Deputy. You’re here? But your complexion.”

“Ugh. Don’t even mention it. I was so worried yesterday I couldn’t sleep. I’m a senior now too. So performance evaluations count. I was so worried whether I’d get my contract terminated and kicked out if I keep showing only negatives like this.”

That’s why traders become so sensitive.

Deputy Lee Hye-rin also had dark circles hanging down her face.

“But it’s fortunate that Jin-ho made a lot of profit yesterday. I heard that individual performance matters, but if team performance is good, they give more points for that. Jin-ho, you’re totally my benefactor.”

“It’s only been one day so far.”

“Ah! But Jin-ho, how many trades do you usually make?”

The trades I made yesterday were exactly three.

Three because I bought three times.

Come to think of it, I didn’t sell.

I hope when I sell today, the price won’t drop.

“Yesterday I made 150 trades alone. My fingers hurt and my eyes, don’t even get me started on how much they hurt. I also lost money for nothing because I set things up wrong.”

“.150 times?”

“150 is below average. Prop traders usually make hundreds. That’s why everyone misses lunch and just madly spam clicks. They also set up programs according to strategies they planned before the market opens.”

I knew prop traders make a large volume of trades per day, but this was the first time I learned it reaches hundreds per person.

“So when buying and selling high-liquidity stocks, they also set up risk management separately in the program, so when they buy that stock, a certain percentage automatically goes short, or buys ETFs to make the system run for profit.”

So that’s why after meetings end, traders rush to their computers and frantically input various things.

The market hasn’t even opened yet, but they were moving so busily. It was all because of that reason.

According to today’s investment strategy, they set buy and sell ratios and automate it.

“Don’t tell me Jin-ho didn’t do that?”

“I just made exactly three trades yesterday.”

“What? Only three?! You didn’t do day trading? I kind of felt it since mock investment, but Jin-ho, your style is swing trading. You’re the one with a beast’s heart. How can you hold without selling? The graph doesn’t rise steadily, it fluctuates.”

Trader styles are broadly divided into 4 types.

High-frequency trading that makes thousands or tens of thousands of trades per day.

Since that’s almost 100% handled by programs, let’s exclude it.

Next is day trading that most people here do, and there’s position trading where you watch over months or even years.

Lastly, trading less than 10 times a day is swing trading.

‘I’m the one wondering what kind of beast’s heart everyone has to do day trading.’

Even though risk management is in place, if I keep repeating buying and selling, my eyes feel like they’ll explode.

Plus, I was doubtful whether my intuition would work for day trading too.

Buying immediately when the feeling comes is fine, but I’ve never had intuition sharply tell me when to sell.

‘Maybe it’s just because I haven’t tried day trading until now.’

Until now, I just pressed buy mindlessly when the feeling came and that was it.

Thinking about it, swing trading might be more stable for me than day trading.

“There’s no particular meeting today. Everyone look at research materials and make your own strategies.”

The team leader left only those words and went inside.

Oh no. No meeting.

What I need is data.

Rather than just looking at research materials alone, hearing the team members’ discussions is much more understandable and helpful.

Then isn’t there only one place I can ask for help?

“Um. Deputy?”

“Yes? What is it, Jin-ho?”

“There’s no meeting today.”

“Ah. When it looks like the overall market will be bearish today, he sometimes does that. He’s leaving the judgment to us whether to short for profit or just do nothing.”

So that was the reason.

“Then how about we look at the research materials and have our own meeting?”

“Ah. Don’t tell me Jin-ho.”

Deputy Lee Hye-rin said with a face full of emotion.

“Are you worried about me? That my return rate won’t come out properly? So you’re trying to help?”

“..”

Far from giving help, I was the one receiving it.

“Alright. Brainstorming together is more efficient too. Let’s see. Interest rates went up a bit this time, right? Banks benefit from that. Look here, it says NIM (net interest margin) will rise.”

When interest rates rise, it naturally benefits banks.

Especially the more household debt there is, the better for banks.

Because the loan interest they collect increases.

Plus, 80% of banks’ revenue comes from the interest margin.

When loan interest rates increase, banks’ profits naturally rise.

“Of course, there are risks due to bond valuation losses or loan default possibilities, but on average it’s profitable.”

“But here it says absolutely don’t hold bank stocks?”

“Bank stocks are almost fixed in price. Our country especially has many financial regulations, so it’s a bit difficult for bank stocks to rise. Dividends are also average.”

Just looking at Korean banks’ PBR shows a difference of as much as 5 times.

In other words, current stock prices are valued 5 times lower.

Yet still, stock prices don’t rise.

The factor was the rise suppression due to Korean financial regulations.

It’s also big that there’s no innovation within that.

Dividends are also once a year, so there’s no great appeal.

So that’s why they say don’t hold bank stocks.

“There’s exactly one thing to pay attention to. KK Bank. I’m also debating whether to enter this or not. This is the start of the full version of fintech, right?”

Fintech.

Simply put, it’s financial services done on smartphones.

Now we’ve reached an era where we transfer accounts via apps, but you still need to visit banks to do proper business.

But the newly emerging KK Bank has no branches.

It’s 100% an internet bank.

Even the banking sector was a place stagnant to the core.

Banks established in the 1800s represent our country after changing names multiple times.

In other words, with no real innovation and no competition, bank stocks overall are stuck.

A new company appears in such a place trying to flip the board.

Whether this will work or get crushed by other banks remains hotly debated.

But for day traders like us, we don’t need the distant future.

Only how today’s stock price will be matters.

“So I’m also debating. Whether to enter this or not. Since it’s the first listing, investors will swarm in. But even if it shoots up once, the limit is 15%. It’ll probably just draw Giyoung graphs like crazy within that.”

There’s something called the Giyoung graph.

Named because the graph looks like Giyoung’s hair from Black Rubber Shoes, newly listed stocks have investors swarming in, repeatedly going up and down, drawing that hair shape.

“Jin-ho. Don’t tell me you’re going to try entering KK Bank?”

“Ah. I’m.”

Since the research materials also say to avoid bank stocks if possible, I was going to follow that advice.

But the moment I tried to turn to the next page of materials.

An intense feeling flowed from my fingertips throughout my body.

“Jin-ho?”

“.I’m going to try entering.”

“Wow. As expected, strong-hearted. For listing stocks like this, you really need to be good at hitting and running. Buy at the low point and sell at the high point. You have to keep repeating that. Will you be okay?”

“If I really think it’s not working, I’ll have to cut and get out.”

But right now my intuition is telling me.

That I should enter this.

“Hmm. Should I try entering too? Ah. The market will open soon. Hurry and go prepare, Jin-ho.”

“Ah, yes. Fighting today too.”

“Fighting!”

I returned to my seat and waited for the market to open while checking my capital first.

If I subtract all my stocks that will sell as soon as the market opens, it comes out to a bit over 1.1 billion. Huh?

‘What’s this? An error?’

But my capital had 4 billion added to that.

I immediately went to the team leader.

Because I didn’t want problems from mishandling this money.

“Um, Team Leader. I think my program has an error. Right now the deposit coming into me is 4.”

“If you’re talking about capital, that amount is correct.”

“What?”

“Starting today, Assistant Manager Jeong will be investing with total capital of 5 billion. So know that and hurry back to focus. The market will open soon.”

What? From 1 billion to suddenly 5 billion?

Even though yesterday’s profit was good, is it okay to pump it up like this?

‘Wait. It really will open soon.’

But there was no time to be flustered.

Because as the team leader said, the market will open soon.

I hurriedly sat down and checked KK Bank first as soon as the market opened.

‘Right. Deputy Lee Hye-rin said diversification is essential for risk management.’

I don’t know.

If I was going to do that, I should’ve made plans before the market opened.

The moment I entered KK Bank, isn’t my body trembling crazily from intuition?

Click. Click.

I kept pressing the buy button.

I couldn’t endure without pressing it.

I even put in all the investment money from yesterday that sold as soon as the market opened at the price I set in advance.

After dumping it all like that, I felt relieved.

‘So is my work done for today?’

Well. Like yesterday, buy it all and sell tomorrow. Done.

It’s sweeter than I thought.

But such thoughts were brief.

“.Hm?”

The feeling that was calm after hitting full buy suddenly started fluctuating again.

Is this telling me to buy more?

‘I already used all my bullets.’

But it wasn’t a buy feeling.

It was calm when I brought the mouse to the buy side, but when I turned to the sell side, current flowed up sharply through my fingertips.

‘It’s telling me to sell!’

The deputy said so too.

That in and out is important here.

Eat at the low point and exit at the high point.

That’s what listing stocks are.

I hurriedly spam-clicked the mouse and hit full sell again.

“Phew. If I was a bit later, big trouble would’ve happened.”

As soon as I sold, the graph that was climbing to break the peak started to madly hit bottom again.

Fortunately, I took profit.

“If it goes like this, now other stocks.”

I tried to close the KK Bank window and look at other stocks.

But before I could even close the window, an intense intuition again issued an emergency alert in my head.

‘Wh-what? Now it’s telling me to buy again?’

If just now was the sell button, this time when I brought the mouse to the buy button side, signals came crazily.

I reflexively rapid-fired the buy button.

Tap-tap-tap-tap!

Now it’s really over, right? Huh?

No. Not even close.

“Again?!”

This time in just a few seconds, the signal shifted to the sell button side.

In just a few minutes, the intense feeling struck and passed me several times, making my temples tighten as if the engine was overheating and burning up.

Tap-tap-tap-tap-tap!

Yet I couldn’t stop my fingers at that stimulating signal.

‘S-save me.’