It is appropriate to buy 1/3 of the position for the first time, leaving enough funds to cope with the later trend of the stock. That is, when the stock declines in the later period, investors can invest the remaining 2/3 of the position. , buy in batches to reduce the cost of holding positions and spread risks. At the same time, investors can also use funnel-shaped position management methods, rectangular position management methods, and pyramid-shaped position management methods to build positions.

The funnel-type position management method means that the initial amount of funds entering the market is relatively small and the position is relatively light. If the market moves in the opposite direction, the market outlook will gradually increase the position, thereby diluting the cost, and the proportion of the position will become larger and larger. ; The rectangular position management method refers to the initial amount of funds entering the market, accounting for a fixed proportion of the total funds. If the market develops in the opposite direction, positions will be gradually added in the future to reduce costs, and the additional positions will follow this fixed proportion; the pyramid position management method is It means that the initial amount of funds entering the market is relatively large. If the market moves in the opposite direction in the future market, no more positions will be added. If the direction is the same, positions will be gradually added, and the proportion of added positions will become smaller and smaller.

Building a position is also called opening a position, which means that a trader newly buys or sells a certain number of futures contracts.

The whole process of futures trading can be summarized as opening a position, holding a position, closing a position or physical delivery. Buying or selling a futures contract in the futures market is equivalent to signing a forward delivery contract. If a trader keeps this futures contract until the end of the last trading day, he must close the futures transaction through physical delivery or cash settlement. However, there are only a few who perform physical delivery. Most speculators and hedgers generally choose the opportunity to sell the purchased futures contract before the end of the last trading day, or to buy back the sold futures contract. That is, a futures transaction of equal quantity and opposite direction is used to offset the original futures contract, thereby closing the futures transaction and releasing the obligation for physical delivery upon expiration. This act of buying back a sold contract or selling a bought contract is called closing a position. A contract that has not yet been closed after a position is opened is called an open contract or open position, also called a position. After opening a position, traders can choose two ways to close the futures contract: either choose an opportunity to close the position, or keep it until the last trading day and perform physical delivery.