The common structural defects of hedging transactions include: too many products put into hedging plans, excessive use of embedded leveraged transactions, making products too complicated, insufficient research on how to implement hedging transactions when prices rise or fall, and speculation in the name of hedging transactions. How to avoid the trap in gold futures hedging?

1。 Don't make contracts with poor liquidity: If one or two arbitrage portfolios have poor liquidity, we should pay attention to whether the arbitrage portfolios can open and close positions smoothly at the same time. If not, you should consider giving up arbitrage opportunities. In addition, if the portfolio is large enough, both contracts of the portfolio have certain impact costs.

2。 Don't do positive arbitrage influenced by non-short-term factors: Because arbitrage opportunities are opportunities to find short-term price deviation based on the long-term price relationship, the factors that lead to arbitrage opportunities are generally short-term or unexpected price changes, so there is generally no need to intervene in positive arbitrage opportunities influenced by non-short-term factors.

3。 The risk of "forced liquidation" arbitrage: its risk is very important in intertemporal arbitrage. Generally speaking, intertemporal virtual arbitrage does not involve spot, but the risk of forced liquidation is that there is no spot position to maintain. When the market situation shows unilateral forced liquidation, the monthly contract with forced liquidation is stronger than other months, and the price difference does not return "rationally", resulting in a loss situation. For more relevant knowledge, you can pay attention to the live video of related topics of Hengying College.