Speculation: The term "speculation" used in futures and securities trading is not a derogatory term, but a neutral word, which refers to the trading behavior of grasping the opportunity according to the judgment of the market and making use of the price difference in the market to profit from it. Speculators can "short" or "short". The purpose of speculation is very direct-that is, to make profits from the price difference. But speculation is risky.

According to the length of holding futures contracts, speculation can be divided into three categories: the first category is long-term speculators, who usually hold futures contracts for days, weeks or even months after buying or selling them, and hedge when the price is favorable to them; The second type is short-term traders, who generally buy and sell futures contracts on the same day or a trading festival, and do not hold positions overnight; The third category is profit-seekers, also known as "hat snatchers". Their skill is to take advantage of small price changes to make small profits, and they can make multiple rounds of trading in one day.

Speculators are an important part of the futures market and an essential lubricant for the futures market. Speculation enhances the liquidity of the market and bears the risk of hedging transaction transfer, which is the guarantee for the normal operation of the futures market.