The second is to control positions and stop losses. Daily settlement will bring short-term financial pressure. Investors should learn to abandon the operating habits of Man Cang trading in the stock market, control the margin ratio, and prevent the risk of being forced to close their positions due to insufficient margin. Don't be driven by luck or greed, and add positions against the trend of self-feeling. The third is to control the risk of contract expiration. Due to the existence of the expiration date of stock index futures, investors should grasp the characteristics of stock index futures contracts returning to spot prices on the one hand, and pay attention to the delivery problem when the contracts expire on the other hand. Fourth, adhere to discipline and don't turn hedging into speculative trading. Hedgers should make corresponding hedging plans according to their own financial situation or stock investment scale. Arbitrators are generally risk-averse, and what they pursue is the steady growth of funds. They should not change their investment strategy on impulse and make one-way speculation, leading to blind orders like betting. The risk and return of stock index futures trading are in direct proportion, and the risk of futures cannot be underestimated. Stock index futures a futures contract with the stock index as the subject matter, which does not involve the delivery of the stock itself. Its price is calculated according to the stock index, and the contract is a margin transaction, which is delivered in the form of cash settlement. It is characterized by high returns and high risks. It can get rich overnight, or it can return to zero overnight. If you don't understand this, you will really die an ugly death. Some retail investors think it is a new thing and take it for granted that it will explode as soon as it is new; Some retail investors think that stock index futures are the same as stocks. If they are locked up, they will "not sell after death" and there will always be a chance to "untie". These ideas are all misunderstandings. Retail investors must have a comprehensive understanding of this new business before participating in stock index futures.