You can also make money when the market falls.

There is basically no essential difference between several futures and ordinary commodity futures except for due delivery. Take a stock market as an example. Suppose it is 1 000 points at present, that is to say, the current "price" of this market index is 1 000 points, and there is now a "futures contract of this market index that expires at the end of February". If most investors in the market are bullish, the price of this index futures may have reached 65438+ at present. If you think the price of this index will exceed 1 100 at the end of 65438+February, maybe you will buy this stock index futures, that is, you promise to buy this market index at the price of 1 100 at the end of 65438+February. The index futures continued to rise to 1 150. At this time, you have two choices, either continue to hold your futures contract or sell the futures at the current new "price", namely 1 150. By this time, you have closed your position and gained 50 points. Of course, before the expiration of this index futures, its "price" may also fall, and you can continue to hold or close your position and cut your meat. However, when the index futures expire, no one can continue to hold them, because the futures at this time have become "spot" and you must buy or sell the index at the promised "price". According to the difference between the "price" of your futures contract and the current actual "price", refund more and make up less. For example, if the market index is actually 1 130 points when it expires at the end of February, you can get the price difference compensation of 30 points, which means you earn 30 points. On the contrary, if the index is 1050 points, you must take out 50 points to subsidize it, which means you lose 50 points. Of course, the so-called "points" of earning or losing are meaningless, and these points must be converted into meaningful monetary units. The specific conversion amount must be agreed in the index futures contract in advance, which is called the contract scale. If the scale of market index futures is 100 yuan, taking 1000 points as an example, the value of a contract is 100000 yuan. The difference between stock index futures trading and stock trading

1. Stock index futures can be sold short. A prerequisite for short selling is that you must borrow a certain number of shares from others first. Foreign countries have strict conditions for stock short selling, but not for index futures trading. In fact, more than half of index futures trading includes short selling positions. For investors, the most attractive part of the short-selling mechanism is that when the overall trend of the stock market is expected to decline in the future, investors can take the initiative instead of passively waiting for the stock market to bottom out, so that investors can also make a difference in the falling market. 2. The transaction cost is low. Compared with spot trading, the transaction cost of stock index futures is quite low, which is only about one tenth of that of foreign stocks. The cost of index futures trading includes: trading commission, bid-ask spread, opportunity cost of paying margin (also called margin) and possible taxes. A futures transaction in the United States (including the complete transaction of opening and closing positions) only charges about $30. 3. The leverage ratio is higher. The higher the leverage ratio, the lower the profit margin. In Britain, a futures trading account with an initial margin of only 2,500 pounds, the trading volume of FTSE- 100 index futures can reach 70,000 pounds, and the leverage ratio is 28: 1. This market is highly liquid. Research shows that the liquidity of stock index futures market is obviously higher than that of stock spot market. For example, 199 1, the trading volume of FTSE-100 index futures has reached 85 billion pounds. 5. Stock index futures shall be delivered in cash. Although the futures market is a derivative market based on the stock market, it is delivered in cash, that is, only the profit and loss are calculated at the time of delivery, and the physical object is not transferred. During the delivery of futures contracts, investors do not have to buy or sell the corresponding stocks to fulfill their contractual obligations, thus avoiding the phenomenon of "crowding" in the stock market during the delivery period. Generally speaking, the stock index futures market focuses on buying and selling according to macroeconomic data, while the spot market focuses on buying and selling according to the situation of individual companies.