When you open a position, you should not only decide what kind of contract to buy and sell, when to buy and sell, but also decide the delivery month of the contract. According to the relationship between the forward contract price and the recent contract price, the futures market can also be divided into forward market and reverse market. In the forward market, generally speaking, for commodity futures, when the market price rises and the contract price in the forward month rises, the contract price in the recent month will also rise to maintain the normal position fee relationship with the forward month contract, and the contract price in the recent month may rise more; When the market falls, the forward month contract will not fall less than the recent month contract, because the premium of the forward month contract to the recent month contract is usually impossible to be greater than the position fee different from the recent month contract. So long speculators should buy contracts in recent months; Short speculators should sell long-term contracts. In the reverse market, generally speaking, for commodity futures, when the market price rises and the contract price in recent months rises, the contract price in forward months also rises, and the contract price in forward months may rise even more; If the market falls, the recent monthly contract will be greatly affected, and the decline is likely to be greater than the forward monthly contract. Therefore, long speculators should buy forward monthly contracts far away from the delivery month, and they can get more profits when the market is bullish; The short speculators should sell the contracts with the nearest delivery month, and get more profits when the market falls. In the forward market, when the market goes up, why does the price of recent contracts go up more? In the forward market, when the market goes down, why doesn't the decline of the forward month contract be less than that of the recent month contract? In the reverse market, when the market goes up, why do the prices of forward monthly contracts go up more? Reverse market, when the market went down, why was the monthly contract greatly affected?