At present, A shares are subject to the trading rules of T+ 1, and the shares bought on the same day cannot be sold on the same day. However, it is allowed to sell on the same day and can be repurchased on the same day. Hong Kong stocks and US stocks can be traded at T+0. At present, there is a voice of T+0 in China. Whether the policy will be liberalized is unknown. It is possible, but the regulators are worried that it will intensify vicious speculation in the stock market.

Stocks bought on the same day cannot be sold on the same day. The Shanghai and Shenzhen stock markets implement the T+ 1 system, which means that the stocks bought on the same day must be sold the next day at the earliest. But after you sell the stock that day, you can use the returned funds to buy the stock that day.

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When T+ 1 was first implemented, investors in the market were indeed protected to a certain extent, but with the changes in the game of bookmakers and the full spread of stock index futures. This T+ 1 model has become a model that restricts retail investors and allows retail investors to easily buy at a high level, but cannot sell stop loss in time.

So why does this trading model make retail investors suffer?

First, we often see that the trend of A shares is that the main force stretches the stock price to a high level in early trading through capital advantages. Because the operating mechanism of retail investors is not as fast as the main funds, it is often learned later, so the stock price of retail investors has reached a high level when they buy. However, when retail investors buy stocks at a high level, the stock price falls. For the rest of the day, they can only watch the stock price fall.

Second, the stock index futures have been greatly liberalized, because stock index futures are T+0 trading mode and have about ten times leverage. This leads to the A-share market T+ 1 for retail transactions, while the futures market T+0 for institutional transactions. There is nothing wrong with doing more stock index futures, but when short positions are broken quickly, it is obviously a short-selling mechanism without holding shares compared with the A-share market. However, most retail investors are in the A-share market. When stock index futures plummet, retail investors will sell because of panic, so institutional investors arbitrage in stock index futures.

So based on these two reasons, how can we guarantee the investment rights and interests of retail investors?

First, investors can try to buy stocks before the afternoon closing. Try not to buy stocks in early trading hours, especially when the market is not good. Buying at the end of the day can guarantee holding shares the next day, and you can choose to sell. Short retention time and high safety. This method is especially suitable for hunters.

Secondly, restricting stock index trading can appropriately increase short-selling stock index, transaction cost and margin. This method first controls short positions and then controls short position profits. It can effectively reduce the plunge risk of stock index futures and achieve the purpose of stabilizing the trend of A shares.

To sum up, the implementation of T+ 1 mechanism in A shares is really rare in the world at present. The vast majority of markets are t+0 mode, so with the liberalization of the market and the continuous expansion of investors' knowledge, I believe that A shares will return to T+0 trading mode in the future. But before that, investors should appropriately change the time of buying stocks according to their own trading methods, and try to postpone it until the close of the day to reduce the time when they can't sell.