The setting of futures opening amount is regarded as a single admission opportunity, and it is assumed that there is a certain amount of sufficient funds to allocate positions.

There are many different ways to set the opening amount:

1, subjective setting;

2. Determine the intervention amount according to the set amount of single transaction funds;

3. Determine the number of interventions according to the risk tolerance (stop loss amount).

Here, I agree with the third way, that is, according to the risk tolerance and the size of the stop loss space, the number of open positions is determined.

In trading, it is difficult to predict and control the profit. The only thing that can be controlled is the amount of each loss, which is the only way to protect the capital. Based on the clarity and controllability of capital control, the third way can be the first to know the cost you will bear in the worst case when making any list. The opening setting of the third method is the divisor of the stop loss amount and the stop loss space, that is, the opening amount = stop loss amount/stop loss amount.

The amount of stop loss needs to be set according to the total amount of funds and the degree of risk preference. I think the appropriate risk tolerance is to take 2%-3% of the total amount of funds as the stop loss amount for a single transaction. In other words, if you want to lose about 20% of the funds, you need to make consecutive mistakes 10 -7 times. Generally speaking, the probability of such continuous mistakes is not high, so 2%-3% risk tolerance is more appropriate. If the risk tolerance is too small, the stop loss will be too frequent, and if it is too large, the cost of misjudgment will be too high. It should be clear that risks and benefits are absolutely corresponding. Under the condition of constant stop loss space, the larger the stop loss amount, the greater the profit space, but the greater the loss space. The stop loss amount is set by the operation strategy, which can be objectively followed in the operation process and needs strict discipline.

Stop loss space is another factor related to the open position, which is judged by subjective experience and skills, so it is subjective. In the implementation process, it is necessary to objectively judge the stop loss space as much as possible, and strictly follow it after calculating the opening amount to prevent subjective tendencies and impulses.

Although from an objective point of view, the amount of stop loss needs to be set according to the certainty of market judgment. However, due to the cultivation of discipline and the prevention of subjective and arbitrary play, I don't think we can give too many opportunities to adjust the stop loss amount. At present, the stop loss amount is mainly divided into two options: one is to choose a stop loss amount of 4% based on the structural entry opportunity of the trend; Second, there are K-line combination patterns and local structural admission opportunities to choose a stop loss of 2%.

Controlling risk by opening positions In futures and stock trading, it is normal to stop and lighten positions because of the wrong direction, but many people are often forced to lighten their positions because they have too many positions and the funds can't afford repeated prices, which is really unfair. In order to avoid this situation, it is necessary to limit the opening amount within a reasonable range according to the requirements of risk control from the beginning of opening positions, which is the first step of systematic trading risk control. However, how to get to this step? On the premise of systematic trading, the opening amount is proportional to the risk (and of course to the income). Under the premise of setting a stop loss, the main way of risk control is to control the opening amount, and controlling the opening amount also controls the risk. Taking futures trading as an example, the following data are needed to calculate the reasonable opening amount: total investment, opening price, stop loss price and risk control rate.

In the above data, the meanings of the previous indicators, such as total investment, do not need to be explained in detail, mainly analyzing the risk control rate.

Risk control rate = allowable loss ÷ total investment × 100%

As far as venture trading investment is concerned, the scientific investment psychology should be that every transaction should be prepared for losses, and the amount of prepared losses is a stable relative index relative to investment capital, which should be expressed by the above formula. So, how big is the risk control rate? It can't be 100%. If it is 100%, the investment will be lost and it is impossible to turn it over. So, is 50% ok? If there is no possibility of continuous errors in your trading system or trading system, you should also ensure that the frequency range of losses is not too close. Moreover, in case of loss, even if 50% of the remaining capital is used, the principal can be earned back quickly, instead of suffering losses again. Otherwise, it would be too big to set the wind control rate at 50%. From the above analysis, the setting of risk control rate has a scientific calculation method, which should be determined according to your own trading level. From another perspective, the risk control rate is still a subjective indicator. On the premise of scientific determination, investors' own human characteristics are also the conditions for choice. For example, radical investors are obviously more inclined to have a higher risk control rate than conservative investors. Through years of practical experience, the author now introduces the calculation method of reasonable opening amount as follows:

(Risk control) Opening amount = amount of investment funds that allow losses ÷ expected loss amount of each opening position.

Where: Allowable loss of investment funds = total investment funds × risk control rate.

Expected loss amount of each lot opening = (opening price-stop price) × standard contract capacity of each lot.

For example, at 9: 28 am on June 28th, 2002, the Dapeng trading system sent a signal at 12 seconds, and the trend of soybeans turned up in September. The opening price of the system signal is 2086 yuan/ton, the stop price is 2062 yuan/ton, the standard contract capacity of soybean futures is 10 ton/lot, the existing total capital is 500,000 yuan, and the risk control rate is 5.

Allowable loss of investment funds

= total investment funds × risk control rate

= 500,000 yuan ×5%

= 25,000 yuan

Expected loss amount for each open position.

= (opening price-stop price) × standard capacity of each contract.

=(2086-2062)× 10

=240 yuan/hand

(Risk control) Open position

= Allowable loss of investment funds ÷ Expected loss of each open position.

= 25,000 yuan/hand /240 yuan.

Material 104 hands

Because 104 lot ×2086 yuan (guaranteed amount per lot) is less than 500,000 yuan.

Therefore, the decision instruction should be: according to the calculation, 2086 yuan will buy 104 soybean futures in September.

The open position calculated according to the above method, if there is a floating loss in the future, is not only greater than the predetermined control level of 5%, but also within the predetermined control level even if there is an actual loss in the future.