Stock index futures trading is a high-risk and high-return investment method, which is more complicated than the stock market. Among them, the counterparty refers to the trading instructions of the counterparty trader in the stock index futures market. Traders use these orders to make trading decisions, and in order to get more profits, they need to know the situation of their opponents.

Traders can obtain counterparty information by looking at the instruction book, which can include the counterparty's trading direction, trading quantity and price. When a trader buys a futures contract, his order becomes a buying order (called "long position"), and the counterparty's order is a selling order (called "long position"). By observing the selling orders of counterparties, traders can predict the market trend and make corresponding investments.

Skilled traders can make more effective strategies by analyzing their opponents' hands. Especially in the case of large market fluctuations, the importance of opponents is more prominent. Traders can consider increasing or decreasing orders in order to better adapt to market changes. In a word, it is one of the keys to the success of traders to understand the operation law of their opponents.