I. Open an account

Read and understand the "Futures Trading Risk Statement" carefully, and be aware of the risks of futures trading. Sign the "Futures Brokerage Contract" and the "Futures Market Investor Account Opening Registration Form" to establish the brokerage relationship between the client and the futures brokerage firm. The futures brokerage company then applies to each futures exchange for the client's trading code (similar to the shareholder code in stock trading) and a unified allocation of client fund accounts.

The two most important points in the Futures Brokerage Contract are that it specifies the designated person for the transaction and agrees on the seal and method of withdrawal of funds. Remote customers, can be handled online.

II. Deposit and Withdrawal of Funds

Customers' funds can only be transferred between the customer's designated bank clearing account and his futures account;

Customers can self-service online through the bank transfer system.

III. Trading methods

Domestic futures trading entrustment methods are: written entrustment order, self-service terminal entrustment order, online self-service entrustment order, telephone entrustment order.

China's futures trading bidding method for the computerized summary transaction bidding method, which is consistent with the stock, and follow the price priority, time priority principle; in the case of up and down stops, then to follow the principle of the priority of the closed position.

IV. Settlement

After the end of each day's trading, the futures company carries out liability-free settlement of the customer's futures account, i.e., the calculation and allocation of the trading margin, profit and loss, handling fee, access to the funds, delivery of goods and other related payments based on the trading results of the day, and all the transactions and funds of the customer's account can be accessed through the computer self-service query.

Futures of the "forced closure" is based on the daily account situation, when the account of the customer's equity is less than the account of the position in the margin required (that is, when the account is negative), the futures company requires the customer to make up the difference within the specified time, otherwise, the futures company has the right to part or all of the closure of the bill of accounts in the position. position.

V. Billing Confirmation

Customers who have objections to the matters recorded in the trading account on that day (remote customers can check online) should submit written objections to the futures brokerage company before the market opens on the next trading day; customers who have no objections to the matters recorded in the trading account are regarded as automatic confirmations of the settlement of the transaction.

VI. Account Cancellation

When a client does not need to keep his/her funds account, he/she can cancel his/her account by filling out the "Account Cancellation Application Form" after confirming that all transactions and fund inflows and outflows of his/her funds account are correct, and that there are no funds and positions in his/her funds account. Remote customers can be processed off-site in an agreed manner.

Basic conditions for participation in futures trading

1. Any natural and legal persons permitted by national laws and regulations.

2. The ability and psychological readiness to bear risks.

The futures market is a high-risk, high-return market, in the expectation of getting a high return before, should consider clearly whether they have the ability to bear the risk of participating in futures should be their own "loss of money" money, avoid borrowing money to do futures.

3. Choose a legitimate, formal futures company. First of all, the legal futures company should be licensed by the State Administration for Industry and Commerce issued by the "business license" and the China Securities Regulatory Commission issued by the "futures brokerage license"; secondly, the company's standardized operation, good credit is also an important factor that should be considered.

4. Choose a good intermediary. This is for investors who do not want to trade on their own.

The so-called "intermediaries" are people who help investors collect relevant information and provide advice on buying and selling, and who are paid in the form of commissions.

The relationship between the investor and the intermediary is a private one, so the choice of an intermediary should take into account whether his or her ethics, professionalism and style of trading are suitable for you. In turn, the intermediary should be made aware of your risk appetite and tolerance so that the intermediary can work optimally.

In the futures market, a large portion of the turnover is done by intermediaries. From what we know of the actual situation, there are indeed some very good professional intermediaries, creating huge profits for investors.

Daily essentials for futures trading

I. Quotation system and trading software

At present, futures trading has been mostly done through the Internet. After completing the account opening process, the futures brokerage firm will inform the client of the download URL of the quotes system software and the trading system software, and provide the corresponding account number and the initial password for trading. After installing the downloaded software on their computers, customers can access the Internet to see the actual market and check their account transactions and funds.

Currently, the popular futures software are: Shihua Financial Software, Mandarin Financial Software, Fortune Software, Penpower Software and so on.

II. Daily collection of relevant information

Futures trading is based on spot trading. There is a very close connection between futures prices and spot prices.

In the real market, futures prices are not only affected by the supply and demand situation of commodities, but also by many other non-supply and demand factors. These non-supply and demand factors include: financial and monetary factors, political factors, policy factors, speculative factors, psychological expectations and so on. This information is available on the websites of major futures companies and on specialized futures websites for daily updates.

III. Foreign Futures Varieties Worth Watching

With the globalization of the world economy, the fluctuation of commodity prices around the world shows a close correlation.

As far as domestic commodity futures varieties are concerned, there are different degrees of linkage with the international market. Noteworthy foreign futures varieties are: Britain's London Metal Exchange (LME) of copper, aluminum; U.S. Commodity Exchange (COMEX) of copper; U.S. Chicago Board of Trade (CBOT) of soybeans, soybean meal, wheat, corn; Japan's Tokyo Commodity Exchange (TOCOM) of rubber; the U.S. New York Mercantile Exchange (NYMEX) of crude oil, fuel oil; the U.S. New York Cotton Exchange (NYCE) of cotton; Singapore International Finance Exchange (SIMEX) of fuel oil, etc..

In the company's market watch software, you can check these latest data every day.

Several special points of futures market indicators

The technical analysis of the futures market is examined in much the same way as stocks, but there are several special points that should be brought to the attention of securities investors. Here proposed, we should be based on the specific circumstances of the futures, appropriate amendments to the original views of these technical parameters.

I. Volume

The volume of futures is the total of the day's buy and sell volume, calculated in both directions. However, both buying and selling may have opened or closed positions, which is different from stocks. Therefore, the volume value of futures contains information about different combinations of buying, selling, opening and closing positions, which is more information than that reflected by the volume of stocks.

II. Positions

Positions in futures are the total of positions that have not yet been closed by both buyers and sellers, and are calculated in both directions. That is, half of the position data we see are buy positions and generally sell positions. This is also very different from stocks, and changes in positions are also indicators that have a large impact on the market.

Three K charts

Since the futures market price fluctuations are generally more frequent than stocks, it is recommended to refer to the time charts, such as 5-minute k charts, when studying the market, especially when doing T+0. Of course, this is also based on personal trading habits.