The first lesson of treasury bond futures trading: remember the risk awareness! The single-day potential profit and loss of treasury bonds futures is relatively large, and the rise and fall of treasury bonds futures are limited to 4%, which means that investors will lose all trading margins in the event of extreme conditions of treasury bonds futures.

That is, 4%*25 times leverage = 100%. If Man Cang operates, in extreme cases, you may explode within 1 day.

Never speculate in stocks.

Once the treasury bond futures market moves in the direction of its own judgment,

The income is also considerable. The leverage ratio of treasury bond futures is about 25 times, and the daytime profit and loss are also considerable compared with the investment margin. If the futures price of treasury bonds fluctuates by 0.4%, it will bring the profit and loss equivalent to the investment margin 10%.

However, investors should never speculate on treasury bonds futures as stocks: in the stock market, investors generally don't have to stare at the disk all the time after buying stocks, and they can even hold them for a long time. However, investors need to have enough time to watch bond futures trading.

Investors should never think that treasury bonds futures can make a lot of money by operating in Man Cang, while ignoring the risks of operating in Man Cang.

Know where you are.

Before investors enter the treasury bond futures market, they must first understand the structure of the treasury bond futures market and the positioning of their participation in treasury bond futures trading.

There are many potential participants in treasury bond futures, but the risk preferences of different groups are completely different. On this basis, the trading model is established. Let's first look at the risk preferences of different participants.

Institutions represented by commercial banks and insurance companies are the most urgent demanders of treasury bonds futures and investors with the lowest risk preference. The core function of treasury bond futures is to manage interest rate risk to cover the interest rate risk exposure of its positions. Theoretically, the risk preference of bank wealth management products and brokers is also low, but slightly higher than that of banks and insurance companies.

Such groups, such as securities companies' collective asset management accounts and private equity funds, have high risk appetite and are also important active participants in the early stage of the market.

It is undoubtedly a high-risk preference for individual investors to participate in treasury bond futures, because in terms of operational motivation, individual investors basically do not manage interest rate risks and hedge transactions, but mainly engage in speculative transactions. Xie Chong, researcher of Expo Securities.