After determining the trading variety in futures trading, many terms are involved, such as which contract month to choose for trading, the proportion of initial investment, and the rough determination of daily settlement profits and losses, etc. For securities investors, these professional terms have rarely been encountered in the past, so it is necessary to understand and master these basic knowledge before participating in stock index futures trading. It is necessary to distinguish between opening and closing positions. In futures trading, position volume is a very important trading parameter, but there is no such parameter in securities trading. In stock index futures trading, both buying and selling are called opening positions. In layman's terms, it means turning money into futures contracts. After the futures contract is traded, investors hold a position in the futures contract, which is called a position. After opening a buying position, they hold a long order, and after opening a selling position, they hold a short order. After the price fluctuation of the futures contract reaches your profit target price or stop loss price, you want to cash in your contract position into funds. At this time, you need to close the contract, which is the transaction behavior of closing the position. The method of closing is: Reverse the direction of the position. When you hold a long order to open a buy position, your closing operation is to close the position by selling, and when you hold a short order to open a selling position, your closing operation is to close the position by buying. . Since opening and closing a position have different meanings, traders must indicate whether to open or close a position when buying or selling stock index futures contracts. Securities investors often do not pay attention to this point and easily turn closing positions into opening positions. In this way, not only are the positions not cashed into funds, but new reverse positions are added, increasing the occupation of margin.