The fund must first prepare the money for fixed investment, and the money that is not used for three or five years can be used for fixed investment; Secondly, choose a fixed investment fund. Novices generally recommend choosing broad-based index funds, such as CSI 300 and CSI 500. If you have the ability, you can choose some industry index funds, and there are often several funds tracking the same index. After comparing the management fees of each fund, choose the one with the lowest management fee for fixed investment; Third, we must determine the fixed investment time. Generally, the fixed investment of funds is calculated in years. Although the fixed investment of the fund can be started at any time, if it enters the market at the high point of the bull market, the income will generally be several years, and the holding experience is not good. Therefore, the recent fixed investment time should be when the stock market is in a downward trend. We should use the smile curve to set the fixed investment time, which is about one or two years. As the stock market falls, our investment will be more and more, and the cost will be lower and lower. Finally, the stock market will rise.