To do futures, the first thing is to look at the fluctuation trend of the big cycle, that is, the direction of making orders. Seeing a small cycle is the time to enter the market to make a single order. For example, 1 hour is long, so only multiple orders can be entered in this hour. The timing of entry is based on 15 minutes, and then multiple orders are entered.

The members or customers of the futures exchange take advantage of the capital, deliberately raise or lower the futures market price by controlling the head zd of futures trading or monopolizing the spot commodities available for delivery, excessively hold positions and deliver, force the other party to breach the contract or close positions at unfavorable prices, and reap huge profits. According to the different operation methods, it can be divided into two ways: "more empty" and "more empty". Intertemporal arbitrage refers to buying and selling futures contracts of the same commodity in different delivery months in the same market (that is, the same exchange) at the same time, so as to hedge and close these futures contracts at the same time at favorable opportunities.

②: According to the delivery month and the direction of buying and selling, intertemporal arbitrage can be divided into bull spread, bear market arbitrage and butterfly arbitrage.

(1) When the market supply is insufficient and the demand is strong, the price of the contract in recent months will increase more than that of the forward, or the price of the contract in recent months will decrease less than that of the forward, whether in the forward market or in the domestic market. In this case, it is more likely to buy the contract in recent months and sell the forward contract for arbitrage, which is called "bull spread".

(2) When there is oversupply and insufficient demand in the market, whether in the forward market or the domestic market, the contract price in the recent delivery month often falls more than the long-term decline, or the contract price in the recent month rises less than the long-term increase. In this case, it is more likely to sell the recent contract and buy the long-term contract for arbitrage. We call this arbitrage "bear market arbitrage".

(3) Butterfly arbitrage: enjoy the intertemporal combination of a bull market spread and a bear market arbitrage in the intermediate delivery month. Because the branches of futures contracts in recent months and forward months have two wings on both sides of the middle month, they are called butterfly arbitrage.