Convertible bonds are subject to T+0 trading system, that is, buy and sell, but the funds need T+ 1 to be withdrawn to the bank card. In fact, according to my personal understanding, convertible bonds are actually the same as national bonds and corporate bonds, because they also have fixed income and coupon rate. The biggest difference is that it can be converted into stocks. Therefore, convertible bonds have both the stable yield of bonds and the high volatility of stocks. Convertible bonds are more popular in bear markets. They can earn interest as bonds.

First, it is an opportunity for some people who have the ability, because when a bull market comes, it can be converted into stocks to eat profits. But for most A-share retail investors, stocks are eager for T+0 every day, convertible bonds can be held for several years, and T+0 can be used indefinitely. Strictly speaking, the above statement is not accurate. There is no limit on the price of convertible bonds in Shenzhen Stock Exchange and Shanghai Stock Exchange. When the price of convertible bonds exceeds 20%, it will be suspended for 30 minutes. If it exceeds 30%, the fuse mechanism will be triggered again, and it will be suspended until 14:57, which will directly enter the late call auction to generate the closing price.

Second, obviously, for the rise and fall of convertible bonds, you can follow the underlying stock. The underlying stock rose, the convertible bonds rose, the underlying stock fell, and the convertible bonds fell. If you are optimistic about the rise of a stock and are worried about the possible downside risk the next day, you can choose to buy convertible bonds at a low level, then sell them at a high level and do T+0 one day. Of course, if the market is in a good mood, the success rate of the operation will be higher, so you can make convertible bonds as many times as you want.

Third, understand his risks. Because when he was unlucky, he encountered stocks that fell unilaterally. Repeated T+0 may lead to account losses far greater than the actual decline of stocks. For some investors, this is the most difficult thing. The stock daily limit system limits the long-term kinetic energy of funds, while convertible bonds do not. ?