In futures trading, the position held after buying a long (rising) futures contract is called long, referred to as long. Long position means that investors are optimistic about the trend of the market, so they buy first and then sell, in order to make a profit or make a difference; Short position means that investors or speculators regard the future trend as a decline, so they throw out their securities and wait for an opportunity to buy them. A position is a market agreement that promises to buy and sell the initial position of a foreign exchange contract. Judging from its English position, it means position. Buying foreign exchange contracts is long and in an expected position; Selling foreign exchange contracts is an empty position and is in the expected position. Short position: an investment position arising from selling short positions. Since this position has not been written off, a short position that can benefit from the decline in market price refers to a position that sells or sells more than it buys when the expected price falls. Short positions can be closed by purchasing the same amount of financial instruments. Buying because of short positions is called "short covering". Selling without establishing a long position is called "short selling" The whole process of futures trading can be summarized as opening positions, holding positions, closing positions or physical delivery. Opening a position, also known as opening a position, refers to the new purchase or sale of a certain number of futures contracts by traders. Buying and selling a futures contract in the futures market is equivalent to signing a forward delivery contract. If traders keep futures contracts until the end of the last trading day, they must settle futures transactions by physical delivery or cash settlement. However, only a few people make physical delivery, and most speculators and hedgers usually choose to sell their futures contracts or buy back their futures contracts before the end of the last trading day. That is to say, the original futures contract is written off by a futures transaction with the same amount and opposite direction, thus ending the futures transaction and relieving the obligation of physical delivery at maturity. This behavior of buying back a sold contract or selling a bought contract is called liquidation. 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.