In futures trading, "closing today" means closing today's warehouse receipt, and closing is closing historical warehouse receipt. Only Shanghai Futures Exchange in China strictly distinguishes between "liquidation" and "liquidation". The warehouse receipt generated on the same day can only be leveled with the "Ping Jin" instruction. Zhengzhou and Dalian don't distinguish this.

Closing a position refers to the behavior of futures traders to buy or sell futures contracts with the same variety, quantity and delivery month but in the opposite direction, and close futures trading. The whole process of futures trading can be summarized as opening positions, holding positions, closing positions or physical delivery. An open contract after opening a position is called an open contract or an open contract, also known as a position. After opening the position, traders can choose two ways to close the futures contract: either choose the timing of closing the position or reserve it for physical delivery on the last trading day.

Futures positions have historical positions and new positions (that is, opening positions on the same day), so there are options for closing positions and closing positions when closing positions. The liquidation is decided by the system. Closing a position refers to closing a position opened today.

If the system decides, it is usually the transaction with the biggest loss (or the smallest profit).