The essence of futures is to sign a forward contract for buying and selling commodities (or stock indexes, foreign exchange, interest rates) with others to achieve the purpose of preserving value or making money.

If you think the futures price will rise, go long (buy to open a position), close the position if it rises (sell), and make a profit: price difference = closing price - opening price.

If you think the futures price will fall, go short (sell to open a position), close the position if it falls (buy), and make a profit: price difference = opening price - closing price.

It is generally easy to understand long futures trading, but not so easy to understand short selling. Let's take short selling of wheat as an example (the seller does not necessarily have the goods when signing a selling contract) to explain the principle of short selling in futures:

When wheat is 2,000 yuan per ton, you estimate that the price of wheat will fall. You sign a (first-hand) contract with a buyer in the futures market, (for example) agreeing that you can sell him 10 tons of standard wheat at any time within half a year at a price of 2,000 yuan per ton. (Value 2,000 × 10 = 20,000 yuan , based on 10% margin, you should provide a performance deposit of 2,000 yuan. The performance deposit will change with the change of the contract value)

This is short selling (sell opening). In actual operation, you are. Sell ??a wheat futures contract to open a position.

Why should the buyer sign a contract with you? Because he is bullish.

When you sign a contract, you do not necessarily have wheat in your hands (generally, you do not really want to sell wheat). You are observing the market. If the market goes down as you wish and drops to 1,800 yuan per ton, you buy 10 tons of wheat at the market price of 1,800 yuan per ton and sell it to the buyer at the contract price of 2,000 yuan per ton. The contract is fulfilled (your performance deposit is returned to you). You earn:

(2000-1800)×10=2000 (yuan) (the handling fee is generally 10 yuan round trip, ignore)

This is profit closing. In actual operation, you are buying and closing one wheat futures contract.

The buyer (not specific) who signed the contract with you lost 2,000 yuan (the handling fee is ignored).

●In fact, for the entire operation, you only need to sell one lot of wheat at 2000 points and buy evenly at 1800 points (you do not actually buy or sell wheat, you just sell and open a position on the futures). It is very convenient to close a position with one purchase.●

After opening a futures position, you can close it at any time before the delivery period, and you can also buy and sell multiple times on the same day (generally, there is no handling fee for closing the position on the same day). During the period, wheat prices rise, and you have no chance to buy low-priced wheat to close your position. You will be forced to buy high-priced wheat to close your position (the contract must be closed when it expires). You will lose money, and the buyer who signed the contract with you will lose money. Make a profit.

If you close the position at 2200 points, you will lose:

(2200-2000)×10=2000 (yuan) + 10 yuan handling fee.

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The buyer (not specific) who signed the contract with you made a profit of 2,000 yuan (the handling fee is ignored)

The speculation method of futures is very similar to that of the stock market, but there are very obvious differences.

1. Bet small on big stocks are full-price transactions, that is, you can only buy as many stocks as you have, while futures are a margin system, that is, you only need to pay 5% to 10% of the transaction amount. To carry out 100% trading. For example, if an investor has 10,000 yuan, he can only buy 10,000 yuan of stocks, and if the investment futures is calculated as a margin of 10%, he can sign (buy and sell) a commodity futures contract of 100,000 yuan. This is based on Small bets are big, and money is saved.

Two-way trading. Stocks are one-way transactions. You can only buy stocks first and then sell them. Futures can be bought first or sold first. This is With two-way trading, you can also make money in a bear market.

3. Futures trading generally involves bulk commodities, and the fundamentals are relatively transparent. The number of contracts signed (sold and sold) is theoretically unlimited, and the trend is relatively stable and difficult to manipulate. The number of stocks is limited, the fundamentals are opaque, and they are easily manipulated by evil market makers.

Four. The rise and fall of futures is small, usually 3%-6%, when there are three consecutive suspensions in one direction. , the exchange can arrange for customers who want to stop losses to close their positions. The price limit of the stock is 10%, and there are times when the price limit cannot be exceeded for more than 10 consecutive times.

5. Due to the margin system, futures. The margin call system and the restriction of forced liquidation at expiration make it more high-yield and high-risk. If you operate with a full position, futures can make you rich overnight, or it may make you lose all your money in an instant. Therefore, the risk is very high, but it can be controlled (position size). Investors should invest carefully and remember not to lose everything in stocks.

6. Futures are T+0 transactions and can be done every day. After several rounds of transactions, the position can be closed immediately. The handling fee is lower than that of stocks (about one ten thousandth to five ten thousandths, and there is generally no handling fee for closing positions on the same day). Stocks are T+1 transactions, and you can buy them on the same day. It can only be sold on the second trading day, and the transaction fee is about 8/1000 of the transaction amount.

Futures can make money. But the money it makes is lost by others, and transaction costs have to be paid, so it is not easy to make money from futures (but it is easier than when the stock market falls in a bear market).

Futures are risky, so be cautious when entering the market!

Attached is the futures account opening:

First go to a futures brokerage company (search online, preferably a large-scale, reputable and ranked one) Whichever is first), or the local sales department to handle the account opening procedures.

A. To open an account, a natural person must present his or her ID card and submit a copy, and open an account at a bank designated by the futures brokerage company. In principle, a deposit of 50,000 yuan is required (some companies do not require it), and fill in the "Account Opening Information" Registration Form", leave the image data and scanned copy of ID card, sign the "Futures Brokerage Contract" and all attachments.

B. To open an account for a legal person, you must submit: ① A copy of the business license; ② A copy of the tax registration certificate; ③ The name and account number of the bank where the account is opened; ④ A copy of the legal representative’s ID card; ⑤ A copy of the authorized person’s ID card pieces. Fill out the "Legal Person Account Opening Information Registration Form", and have the legal representative personally sign or authorize the signing of the "Futures Brokerage Contract" and all attachments, and affix the official seal of the unit.

C. The account must designate 1 to 2 people as its fund allocator in the "Futures Brokerage Contract" document, and 1 to 2 people as the person who places the trading order (the person who places the order is deemed to sign the settlement order) people). The designated fund transferor and transaction order issuer must sign in person, provide their ID card and its copy, and reserve a signature.

Notes on account opening:

1. Please read the "Risk Statement", "Customer Instructions", "Contract Text" and other relevant texts carefully before entering the market.

2. The account opening materials provided (business license, ID card, etc.) must be within the validity period.

3. The signatures involved in the contract must be signed by the relevant personnel themselves and are not allowed to be signed on behalf of others.

4. Opening an account is free, and you can bargain with the sales department about the handling fee.

5. If it is an online transaction, download the online trading software of your futures brokerage company (with market quotes Analysis software) installed on your computer.

Enter the online trading system and you can trade futures online.