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Four times a year, the U.S. stock market becomes unusually volatile, a phenomenon traders call "Quadruple Witching Day." What exactly happens on these four days that suddenly turns a normally stable market into a turbulent one?
What is Quadruple Witching Day all about?
Simply put, Quadruple Witching Day is the expiration date for certain U.S. derivative financial products. Stock index futures, stock index options, single-stock futures, and single-stock options all expire and settle on the same day each quarter.
It sounds like just an administrative date, but in reality, it triggers a "butterfly effect" in the market. Futures and options are contracts for "future prices," and at settlement, futures prices must converge with spot prices. This process is influenced by invisible forces, which is why it's called "Witching."
There are four Quadruple Witching Days each year, falling on the third Friday of March, June, September, and December.
2024 Quadruple Witching Schedule
Want to avoid these "storm days"? First, mark the dates down:

Understanding volume is the key to finding the true trading opportunities. Many traders tend to overlook a crucial signal when analyzing market trends—the relationship between price and volume. Prices fluctuate, and so does volume; there is a deep logic behind their interaction. Today, we will break down the 5 most common volume-price patterns in the stock (and crypto asset) markets to help you accurately assess future market movements.
Core logic of the volume-price relationship: Price and volume interaction reveals market sentiment
The essence of the volume-price relationship is a direct reflection of market participant behavior. When prices rise or fall, the size of the trading volume indicates how many investors are willing to enter or exit at that price level. If the price rises but volume does not support it, it indicates a lack of buying interest; the opposite is also true.
In simple terms:
- Sufficient volume → Market momentum, strong trend reliability
- Insufficient volume → Weak upward movement, possibly a rebound rather than a reversal
- Abnormal volume → Extreme market sentiment, risks or opportunities are imminent

The Ponzi scheme is notorious because it lulls investors into a false sense of security with seemingly reasonable investment reasons. These scams use the funds from new entrants to pay returns to early participants, creating the illusion that the "project is operating well," until new funds dry up and the entire plan collapses. Only then do participants realize they have lost everything.
The Origin and Operating Logic of Ponzi Schemes
The term "Ponzi scheme" comes from Italian immigrant Charles Ponzi. In 1903, after sneaking into the United States, Ponzi worked various low-level jobs and was imprisoned in Canada and Atlanta for forgery and human trafficking. After experiencing life's ups and downs, Ponzi discovered that the fastest way to make money was not through manual labor but through finance.
After World War I ended in 1919, the global economic order was in chaos, and Ponzi saw an opportunity. He began selling an investment plan—claiming to buy European postal notes and resell them.

The Gold Mining Industry Is Now in the Spotlight
Since the beginning of 2025, the global gold market has written a miraculous chapter. In just three months, international gold prices have hit a new high 20 times, with spot gold (XAU/USD) performing particularly strongly, driving a wave of investment enthusiasm across the entire precious metals industry chain.
The logic behind this upward trend is quite clear: escalating geopolitical risks (ongoing Russia-Ukraine conflict, tense Middle East situation), and U.S. policy uncertainties fueling safe-haven demand; at the same time, expectations of Federal Reserve rate cuts are gradually fermenting, reducing the attractiveness of the dollar, and elevating gold’s strategic position as an alternative reserve asset; most importantly, global central banks are ramping up gold purchases, with official gold buying surpassing 1,000 tons for the third consecutive year in 2024, while mineral supply is constrained and recycling volumes decline, widening the supply-demand gap.
In the short term, the market has experienced intense volatility: in the first eight trading days before April 22, COMEX gold futures surged by 43

Non-farm employment data is an important indicator of the U.S. economy, divided into large non-farm and small non-farm. The former is released by the Bureau of Labor Statistics, while the latter comes from private organizations. This data influences the stock market, foreign exchange, and crypto markets, directly reflecting economic health. Investors should pay attention to the unemployment rate and trend analysis, avoiding decision-making driven by a single data point.

Is it cost-effective to exchange for Japanese Yen now? The answer is: it depends on how you exchange.
The TWD to JPY exchange rate has reached 4.85 (as of December 10, 2025), with an 8.7% appreciation over the past year, rising from 4.46 at the beginning of the year. In comparison, the HKD to TWD exchange rate has remained relatively stable, with a clear difference in appreciation levels between the two. If you exchange 50,000 TWD at a bank counter, you might spend an extra 2,000 TWD compared to online currency exchange; but with the right method, the same 50,000 TWD can save you between 300 and 1,500 TWD. The maximum difference is enough to buy 20 cups of bubble tea, and this article aims to help you save that money.
Why is it worth exchanging for Yen now?
Travel demand is rebounding
In Tokyo, Osaka, and Hokkaido, cash remains the primary payment method (credit card penetration is only 60%). Japanese drugstores and anime merchandise purchases also almost always require direct Yen payment.
Hedging function upgrade
The Japanese Yen is one of the world's three major safe-haven currencies (along with the US dollar and Swiss franc), maintaining a low long-term value

The Fibonacci indicator uses ratios such as 1.618, 0.618, and 0.382 from the sequence to help traders predict support and resistance levels of asset prices. Through retracement and extension tools, traders can identify the best entry and exit points, thereby increasing trading success rates. This method combines ancient mathematical principles and remains effective in modern markets.

Looking at friends around you sharing investment insights and profit screenshots, do you also want to showcase your skills? Don't worry, this latest 2025 stock investment guide will take you from zero to hero, guiding you step by step into the world of investing!
Step 1: Choose the right broker and open an account
How do you want to buy stocks? First, pick the right "teammate"—that is, choose a broker!
When selecting a securities firm, make sure to consider these factors:
1️⃣ Transaction fees should be carefully calculated
- Taiwan stock trading fees are generally 0.1425%, and many brokers offer discounts for electronic orders
- For US stock trading, pay special attention to minimum fees (some platforms charge a fixed fee per transaction)
- In the long run, differences in transaction fees can accumulate into significant cost disparities
2️⃣ Is the trading interface user-friendly?
- Beginners are recommended to choose platforms with intuitive interfaces and simple operations
- Frequent short-term traders should select brokers with fast market data and stable systems
3

The world of investment is full of temptations, but also hidden dangers. Whenever the market is in recession or the economy is in chaos, all kinds of unscrupulous people take advantage of the situation to weave dreams of "easy profits." Among them, the most notorious is the Ponzi scheme—a classic scam that uses new investors' funds to pay returns promised to earlier investors. Why do these scams keep happening despite repeated bans? Why are people continually deceived? Today, we will delve into the essence, evolution, and ways to break the Ponzi scheme.
A Brief History of Ponzi Schemes: From Personal Fraud to Financial Black Market
The term "Ponzi scheme" is not without basis. It originates from the true story of an Italian-American con artist, Charles Ponzi, and his scam has evolved into a synonym for modern financial fraud.
In 1903, the young Italian immigrant Ponzi sneaked into the United States and worked as a painter, laborer, and other manual jobs in Boston. During this period, he was imprisoned in Canada for forging documents, and later, he was involved in...

Why has the Japanese Yen been continuously falling? This question has been troubling many people who want to invest in the yen. From a high of 157 at the beginning of the year, it has been declining to over 140, then rebounded to around 156 now. The fluctuations of the yen are a bit perplexing. But if you look closely at the data and the actions of the central bank, the logic becomes quite clear.
**Why the Yen Has Been Depreciating Continuously: A Historical Perspective**
To understand the present, we need to look back. The history of the yen's depreciation is actually a history of the evolution of central bank policies.
The 2011 Great Japan Earthquake was a turning point. The nuclear disaster triggered an energy crisis. Japan began大量 buying US dollars to purchase oil, while tourism and agricultural exports were affected, leading to a significant decline in foreign exchange income. This natural disaster directly impacted the yen.
2013 marked a true watershed. The new central bank governor, Haruhiko Kuroda, launched unprecedented large-scale QE (quantitative easing), promising to inject liquidity equivalent to 1.4 trillion USD into the market within two years. What was the result? The stock market...

What is the Taiwan Index Futures (TAIEX Futures)? Why do investors favor it?
Taiwan Index Futures (abbreviated as TAIEX Futures) is a futures product that tracks the movement of the Taiwan Weighted Stock Index, providing investors with a flexible and cost-effective trading tool. Whether the market rises or falls, TAIEX Futures can create profit opportunities.
The main reasons why TAIEX Futures are popular include:
- Dual-direction trading mechanism: not limited by market direction, profit potential in both rising and falling markets
- High leverage effect: only a margin deposit (a small portion of the underlying investment) is needed to control several times the nominal value
- Risk diversification: the index represents the overall market, avoiding single-company or specific industry risks
- Extended trading hours: trading lasts up to 19 hours daily, far longer than the Taiwan stock spot market
- Low costs: compared to stock investments, futures commissions are as low as 0.01% of the underlying investment amount
When you buy TAIEX Futures, it indicates a bullish outlook on the index

The Origin of the Fibonacci Coefficient: From Natural Laws to Financial Markets
The Fibonacci Sequence is not a product of modern finance but originates from mathematical patterns in nature. In the 13th century, Italian mathematician Leonardo Pisano, known as Fibonacci, introduced this fascinating series to the Western world. Its core characteristic is that each number is the sum of the two preceding ones:
0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, 6765…
Observing this sequence reveals an astonishing phenomenon: the ratio of any number to its previous number approaches 1.618, which is the legendary Golden Ratio. For example, 1597 ÷

This article delves into the principles and applications of the RSI (Relative Strength Index) indicator, analyzing its drawbacks such as the dulling phenomenon and divergence lag. It emphasizes combining trend analysis with multiple indicators for joint judgment to improve trading accuracy, and recommends dynamically adjusting RSI parameters to enhance the flexibility of investment strategies.

Yen: Why Is It Worth Paying Attention To? From Travel to Asset Allocation
The NT$ to JPY exchange rate reached 4.85 in 2025, which not only reflects changes in travel costs in Japan but also marks a turning point where the yen shifts from "travel pocket money" to a "hedging asset." Compared to the exchange rate of 4.46 at the beginning of the year, the yen has appreciated by 8.7%, resulting in significant exchange gains.
There are three main reasons why investors should pay attention to the yen. First, it is one of the world's three major safe-haven currencies (the other two are the US dollar and Swiss franc). During market turbulence, funds tend to flow into the yen. For example, during the Russia-Ukraine conflict in 2022, the yen appreciated by 8% in one week, effectively buffering a 10% decline in the stock market. For Taiwanese investors, exchanging for yen is not just for travel but also a way to hedge against fluctuations in the Taiwan stock market.
Second, Japan's ultra-low interest rate policy (only 0.5%) makes the yen a "funding currency." Many institutional investors borrow low-interest yen to exchange for higher-yield assets.

The Preludeto the Currency Reversal Is Playing Out
In recent weeks, the decline of the Japanese yen against the US dollar has paused. In late November, senior Japanese government officials sent a strong signal — Prime Minister Fumio Kishida publicly stated that they would closely monitor exchange rate movements and be prepared to intervene in the foreign exchange market if necessary. This statement immediately reversed market sentiment, with USD/JPY gradually adjusting from a high of 156, and a cautious market atmosphere prevailing.
Meanwhile, reports indicate that the Bank of Japan is preparing for a possible interest rate hike in December. If this expectation is confirmed, it will further drive a bearish trend in USD/JPY.
What is the key variable for the December decision?
The market's focus is on the Bank of Japan's interest rate decision on December 19. Analysts generally believe that the central bank's choice will largely depend on the Federal Reserve's stance.
If the Federal Reserve decides to hold steady and maintain current interest rates, it will significantly increase the likelihood of the Bank of Japan raising rates.

The US dollar declined due to the Federal Reserve's dovish stance and expectations of rate cuts, leading to a shift in market asset revaluation from defensive to offensive. Technology stocks and gold benefited from the weak dollar, and emerging markets also saw significant gains. However, future economic data will influence the dollar's performance, and investors should carefully consider asset allocation to navigate potential volatility.

By December 2025, the NT dollar to Japanese Yen exchange rate has reached 4.85, which presents an opportunity for many. Whether you are planning to travel to Japan next year or are looking to test the waters with investment due to the Yen's hedging characteristics, the timing is indeed right. But the key question is: what is the most cost-effective way to exchange for Yen? This article analyzes the four most common currency exchange channels in Taiwan to help you make the smartest choice before traveling abroad or investing.
Why is the Yen worth paying attention to?
The用途 of the Yen is much broader than you might imagine. Traveling in Japan, shopping for Japanese products online, or even studying abroad long-term all require Yen. But from a deeper financial perspective, the Yen is one of the world's three major safe-haven currencies (the other two are the US dollar and Swiss franc), which is the real reason why even investors are positioning themselves in Yen.
Japan's economic fundamentals are stable, and its government debt structure is relatively healthy. Whenever global stock markets fluctuate or geopolitical risks increase, capital flows into the Yen.

Ask yourself first: Do you really understand contracts for difference (CFD)?
Many people are attracted by the high leverage and T+0 trading style of CFDs but lack a proper understanding of their essence. A CFD is fundamentally an agreement signed by both the buyer and the seller, where investors do not need to hold the actual asset. Instead, they settle in cash and profit from price fluctuations of the underlying asset. Simply put, your profit is the difference between the opening price and the closing price.
This trading method may seem simple, but the risks involved should not be underestimated. According to industry data, up to 70% of retail investors ultimately lose money. Why is that? Let’s take a closer look.
Hidden dangers of CFD trading: leverage is a double-edged sword
Leverage is the most attractive feature of CFDs, but also the most dangerous. Using a small amount of margin to control a larger market exposure can indeed amplify gains, but it also proportionally amplifies losses.
For example, suppose you are bullish on a certain stock,