According to the different analysis angles of futures trading, as well as the different trading skills and futures knowledge of users, in the stock market, relevant market news is still something that investors need to know clearly in time. So today, Bian Xiao is here to sort out some contents related to stock investment. Let's have a look!
Stock futures investment strategy
Not afraid of mistakes and delays: "Not afraid of mistakes and delays" is the most important principle of futures investment. Since everyone has the opportunity to make mistakes in market analysis, the difference between smart and stupid lies in that smart people are good at breaking the arms of strong men, and if they make mistakes, they will be dragged to death. Traders must have the concept of stop-loss without hesitation and without mercy, fight if they win, and leave if they don't win. You can seek high profits without taking high risks.
Stop loss order for the first time: Although the truth of "not afraid of mistakes, but most afraid of delay" is recognized by many traders, many people will inevitably make delays in the process of buying and selling. Looking through the records of ten loss-making accounts casually, almost none of them failed because of ten small losses, and most of them suffered heavy losses because of one big loss.
Dare not lose money or make money: In futures trading, some traders often make the mistake that they should calm down and wait if they are caught. When you lose sesame seeds, you lose watermelon, but when there is a floating profit, you rush to escape. They can kill a tiger, but only a fly. This is called "having the courage to lose, but not having the courage to earn". Buying and selling futures with this mentality will fail in nine cases out of ten.
It's true in your pocket: in futures trading, you are trapped as soon as you enter the market, and then you admit that you are out, so you have nothing to say because you were wrong from the beginning. The most exasperating thing is that they followed the right market as soon as they entered the market, and there was a considerable floating profit at one time. Later, the market reversed and the cooked duck flew away. It is the biggest psychological blow to traders to make money but turn into a loss.
Investment strategy of fund in futures
First, the alpha strategy. Alpha strategy refers to holding a bullish stock portfolio and shorting stock index futures to completely hedge the beta risk of the stock portfolio. What is beta risk? It is the fluctuation of individual stocks caused by changes in the overall market. If the overall market is not good and the index falls, then the stock portfolio held will lose money as a whole. If you short stock index futures at the same time, this income can make up for the loss of stock portfolio to some extent.
Second, hedging strategy. This operation method is similar to alpha strategy, but different from alpha strategy, which starts from the dimension of eliminating beta risk, fund managers arbitrage by shorting stock index futures when the market falls sharply to reduce the return of fund net value. If the short position is large, most of the long-term stock funds in the market will lose money, but the net value of this fund can rise against the market.
Third, the trend strategy. Trend strategy is relatively more complicated. Although in many cases he mainly holds stocks, he may also make profits by shorting some stocks while watching more stocks. At the same time, he will also conduct two-way operation of stock index futures, judge that the stock index is going to fall, and he will short the stock index futures, and vice versa. However, due to the lack of securities lending resources and high cost in China, there are few funds that hedge or profit by shorting individual stocks.
Three quantitative investment strategies
1, quantitative stock selection. Quantitative stock selection is an act of judging whether a company is worth buying by quantitative methods. According to a certain method, if the company meets the conditions of this method, it will be put into the stock pool, and if it does not, it will be removed from the stock pool. There are many ways to quantify stock selection. Generally speaking, it can be divided into three categories: company valuation method, trend method and capital method.
2. Quantify the timing. The predictability of the stock market is closely related to the efficient market hypothesis. If the efficient market theory or efficient market hypothesis is established, the stock price fully reflects all relevant information, and the price changes follow a random walk, so it is meaningless to predict the stock price. Many studies have found that there is a nonlinear correlation in the index return of China stock market besides the classical linear correlation, thus denying the hypothesis of random walk, and pointing out that the fluctuation of stock price is not completely random, which seems to be random and chaotic, but behind its complex surface, there is a deterministic mechanism, so there is a predictable component.
3. Stock index futures arbitrage. Arbitrage of stock index futures refers to the behavior of taking advantage of the unreasonable price of stock index futures market, participating in the trading of stock index futures and stock spot market at the same time, or trading different (but similar) types of stock index contracts at the same time to earn the difference. The arbitrage of stock index futures is mainly divided into two types: spot arbitrage and intertemporal arbitrage. The research of stock index futures arbitrage mainly includes spot construction, arbitrage pricing, margin management, impact cost, component stock adjustment and so on.