Trading strategy: a complete trading strategy generally includes the selection of trading targets, the timing of entry and exit, the management of positions and funds. According to the participation of people's subjective decision-making and computer algorithm execution in all aspects of strategic decision-making, trading strategies can be divided into subjective strategies and quantitative strategies.

Subjective strategy: Subjective strategy mainly depends on investors' subjective judgment. Investors in the futures market make their own judgments by investigating upstream and downstream, supply and demand, macroeconomic expectations, etc. Subjective investors, similar to the stock market, investigate listed companies in the industry through in-depth research on all aspects of the industry and form trading decisions.

Matters needing attention in quantitative trading

In quantitative trading, trading rules, parameters and backtesting all depend on historical data. We can't judge whether these laws drawn from historical data can be sustained and effective in the future market, and we can't judge whether the constructed trading model can be applied.

Simple quantitative factors and strategies are easier for people to understand and accept, but the simpler the strategy, the easier it is for people to know, and the lower the excess returns obtained by quantitative trading.