专访全球赛重量组第七名薛常浩 薛常浩坚信"风险不是用来规避的，而是用来管理的"，2018年后，他的"风控即盈利"理念愈发坚定。此 前其程序化策略未适配夜盘交易，也缺乏非连续交易时段风险应对机制，账户亏损较严重。这让他明 白，稳健就是把每一个风险漏洞都堵上。 薛常浩从三大维度重构策略：一是补齐夜盘功能短板，实时同步外盘数据，一旦市场波动超过预设阈 值，就自动调仓，还增加了"夜盘波动预警"。二是完善非连续交易时段风控，新增"自动清空持 仓"和"购买保护期权"模式，加入手续费预警机制。三是强化止损与风险监测能力。升级后的程序结合 持仓风险度、标的波动率等动态调整止损参数，新增持仓风险度实时监测，风险超标强制减仓。 经过这次升级，薛常浩的程序化策略不仅具有"双卖策略"的风险对冲优势，还通过精细化风控设计补上 了漏洞。在2024年全球宏观环境多变及2025年的"黑天鹅"事件中，其账户收益曲线均稳健上升。 投资只是兴趣 "交易对我而言只是兴趣，不仅能带来被动收入，还能带来攻克难题的成就感。"薛常浩至今仍坚守本职 工作，交易只是其生活的一部分。 薛常浩非常热衷分享他的交易经验。在交流群里，他不仅定期分享实战技巧，还组织线上 ...

Core Viewpoint - The article discusses the current investment strategies and market conditions, emphasizing the need for adaptive strategies in different market environments, particularly highlighting the role of leverage and the shift in investor behavior. Group 1: Investment Strategies - Different market conditions require different investment strategies, with a multi-strategy approach yielding positive results, including a growth stock strategy with over 250% returns and a "shearing sheep" strategy (new shares + government bonds) with over 30% returns [2] - The use of options with a small amount of capital can achieve results comparable to larger investments in ETFs, suggesting a tactical approach to maintaining offensive positions [3][4] Group 2: Market Dynamics - The current market is characterized as a "water buffalo" driven by leveraged funds, with significant increases in margin financing since October 2022, indicating a reliance on speculative trading in small-cap stocks due to a lack of economic improvement [2] - The influx of retail investors has not kept pace with the rising stock indices, reflecting a shift in market dynamics where traditional methods of profit-taking are becoming more challenging [5] Group 3: Sector Performance - The article highlights the declining performance of certain sectors, such as the white liquor industry, which saw a production decrease of 9% year-on-year from January to August 2025, with an 18.2% drop in August alone [10] - The real estate sector is also discussed, indicating a shift in investor sentiment and expectations, leading to a decline in defensive positions for certain stocks [12] Group 4: Long-term Investment Perspective - The importance of long-term investment is emphasized, with a caution against becoming overly attached to specific stocks, as market conditions can change rapidly [8] - The article suggests that passive index investing may be a more reliable strategy for ordinary investors, given the volatility and unpredictability of individual stocks [8]

Core Viewpoint - Chen Chang International (00693) announced the sale of subscription options and shares of Subaru through its wholly-owned subsidiary Redcliffe Investments, indicating strategic financial maneuvers to optimize its investment portfolio [1] Group 1: Financial Transactions - Redcliffe Investments sold subscription options to Nomura Singapore for a total premium of 57.8 million Japanese Yen, equivalent to approximately 3 million Hong Kong Dollars [1] - Nomura Singapore has the discretion to exercise the subscription options on the respective expiration date to purchase Subaru shares held by Redcliffe Investments [1] - Additionally, Redcliffe Investments executed a series of transactions in the open market, selling a total of 708,100 Subaru shares for a total consideration of 2.196 billion Japanese Yen, approximately 116 million Hong Kong Dollars, excluding brokerage fees [1]

上午，一则消息直接引爆市场。国泰君安国际获得了虚拟资产交易的牌照，首家获批的中资券商。以前虚拟货币属于法外之地，现在招安，代价是实名交 易。算是给近期爆炒稳定币概念一个点燃情绪的作用，但实际上仔细想想这属于纯炒作，虚拟货币真正的作用其实是转账和支付，至于你说炒币，那不大 可能。只能算是给券商一个额外的收入。 924行情，你错过了 难道624你也要错过吗？ 一阳改不了三观，三阳总可以吧。今天开始不少不活跃的朋友开始问笔者，是不是可以做多了。 尤其是今天之后蠢蠢欲动的朋友，今天的内容一定要看完，你再思考一下究竟要不要做多。 毫无疑问，今天最强的仔是创业板，3个点的涨幅冠绝全场，上午收盘，一度要冲高回落之际，还是创业板高举高打。 为什么是创业板？因为交易软件。 昨晚，鲍威尔在国会作报告，在面对议员提问"为什么在拜登时期，通胀比现在高，可以降息50基点，现在通胀降低为什么不降息？"。鲍威尔的回答 是"如果通胀压力确实得到控制，那么我们将尽快降息"。 传到我们这里就是，美联储即将降息，如果两个字直接被忽略。 至于后续能走多远，还是昨天文章提到的三点。 券商上一次连续上涨发生在3月14和5月14日，但是每一天跳完，大盘就 ...