【正文】 ，型號(hào)，價(jià)值，質(zhì)量和數(shù)量的商品等問(wèn)題，以及合約期。期貨市場(chǎng)還有一個(gè)特點(diǎn)是作為高杠桿率；杠桿過(guò)程可以比作一把雙刃劍。 外匯可以修改，如果覺得這個(gè)價(jià)格有限制的必要。事實(shí)上，一年一小變， 5%的指數(shù)可能會(huì)造成如此大的損益對(duì)投資者 (有時(shí)甚至超過(guò)最初的投資額 )，是冒險(xiǎn)的算術(shù)的杠桿。 杠桿：雙刃劍 在期貨市場(chǎng)上，杠桿指用小額的資金控制大額的商品資本。 3 期貨的特點(diǎn) 在期貨市場(chǎng)上，保證金有不同的定義。 如果合同是在 500 元實(shí)現(xiàn)交割、農(nóng)民將失去五千元的期貨合約而面包制作者則贏得 5000 元的合同。不過(guò)，現(xiàn)在更重要的是知道每個(gè)合同中雙方的立場(chǎng)。 2 期貨是怎樣進(jìn)行 買方和賣方來(lái)自全世界，最后并簽訂期貨合約。s close and the results remain the upper and lower price boundary for the day. Say that the price change limit on silver per ounce is $. Yesterday, the price per ounce closed at $5. Today39。s how the futures market works. Except instead of a cable TV provider, a producer of wheat may be trying to secure a selling price for next season39。t realized until the investor decides to sell the stock or cover his or her short position. As the accounts of the parties in futures contracts are adjusted every day, most transactions in the futures market are settled in cash, and the actual physical modity is bought or sold in the cash market. Prices in the cash and futures market tend to move parallel to one another, and when a futures contract expires, the prices merge into one price. So on the date either party decides to close out their futures position, the contract will be settled. If the contract was settled at $5 per bushel, the farmer would lose $5,000 on the futures contract and the bread maker would have made $5,000 on the contract. But after the settlement of the futures contract, the bread maker still needs wheat to make bread, so he will in actuality buy his wheat in the cash market (or from a wheat pool) for $5 per bushel (a total of $25,000) because that39。 although leverage works as a doubleedged sword. It39。這樣可以保證在現(xiàn)在及未來(lái)一年，即使在價(jià)格上漲期間你也可以保證價(jià)格的不變。因?yàn)槭蹆r(jià)未來(lái)的售價(jià)只增加了 1 元，他有義務(wù)出售小麥。換句話說(shuō)，不需要去現(xiàn)貨市場(chǎng)購(gòu)買或出售商品就可以實(shí)現(xiàn)交易。期貨交易保證金，通常是 5%至 10%的期貨合約。 由于杠桿，如果期貨合約的價(jià)格連動(dòng)起來(lái)比較輕微利潤(rùn)將會(huì)得到比較大的初始保證金。合同的一天內(nèi)如果你承包了 3000 單位糧食，則可得或損失最低 美元 (美分 x 1000)。 如果你想知道更多，請(qǐng)向您的經(jīng)紀(jì)人咨詢。 你一旦作出決定要參與到期貨市場(chǎng)，參與的方式有好幾種，但它們都涉及到風(fēng)險(xiǎn)。這些被稱為持倉(cāng)限額并確保沒有任何一個(gè)人可以控制市場(chǎng)的價(jià)格購(gòu)買特定商品。他們將被引用為價(jià)格在現(xiàn)貨市場(chǎng)：幾元幾角或每單位 (盎司黃金，桶，指數(shù)點(diǎn)，百分比等 )。 期貨，杠桿比率很高 ，指存入較低的保證金就可以做大額度的期貨交易，這是部分原因，期貨市場(chǎng)是有用的而且也很危險(xiǎn)。 一旦在期貨市場(chǎng)開了帳戶，你必須注入最低的期貨合同交易資金以作為進(jìn)入你的帳戶存款。 農(nóng)夫之后又回補(bǔ)合同可以賣他的小麥現(xiàn)貨市場(chǎng)售價(jià) 5 元每單位，而是因?yàn)樗膿p失，由期貨合同面包的制造者，農(nóng)民實(shí)際上仍然只接收400 元每單位。 例如，在上述情況下，鎖定合同價(jià)在 5000 單位的糧食價(jià)格為 400 元每單位。 但并不擔(dān)心，因?yàn)槲覀儎偛盘岬降?，幾乎所有的期貨合約，最終并沒有實(shí)現(xiàn)最終的實(shí)物交割。s necessary. It39。s account is debited $5,000 ($1 per bushel X 5,000 bushels) and the bread maker39。s account is credited by $5,000 ($1 per bushel X 5,000 bushels). As the market moves every day, these kinds of adjustments are made accordingly. Unlike the stock market, futures positions are settled on a daily basis, which means that gains and losses from a day39。s not unmon for the exchange to abolish daily price limits in the month that the contract expires (delivery or “ spot” month). This is because trading is often volatile during this month, as sellers and buyers try to obtain the best price possible before the expiration of the contract. In order to avoid any unfair advantages, the CTFC and the futures exchanges impose limits on the total amount of contracts or units of a modity in which any single person can invest. These are known as position limits and they ensure that no one person can control the market price for a particular modity. 4 Conclusions Buying and selling in the futures market can seem risky and plicated. As we39。 什么是期 貨合約 正如我們所說(shuō)的，例如，你決定訂閱有線電視。 損益 現(xiàn)金結(jié)算 期貨合約中的公司利潤(rùn)和虧損的取決于每天市場(chǎng)的變動(dòng)，進(jìn)行合同計(jì)算的日常工作。 換句話說(shuō)，農(nóng)民的損失，在期貨合約是抵消了較高的銷售價(jià)格在現(xiàn)貨市場(chǎng) 這稱為對(duì)沖。這種原始的存款被稱為初始保證金。很小的現(xiàn)金保證金相比期貨合約的價(jià)值，可以看出它具有很高的杠桿作用。 不過(guò)，期貨合約的價(jià)格，他們有一個(gè)最低的數(shù)額。 4 結(jié)論 買和賣，期貨市場(chǎng)充滿高風(fēng)險(xiǎn)性和復(fù)雜性。你可以你自己的帳號(hào)進(jìn)行交易，或者登記一個(gè)管理帳戶，或參加商品集會(huì)。本教程介紹給你的是期貨的基礎(chǔ)知識(shí)。對(duì)于期貨投資者更重要的就是要了解每一件商品將影響合約的規(guī)模的最低價(jià)格波幅。你們已經(jīng)知道，期貨市高杠桿投資能產(chǎn)生兩種結(jié)果：偉大的利潤(rùn)或更大的損失。換句話說(shuō)，您保證金帳戶金額隨著市場(chǎng)變 化而每日波動(dòng)。在這種情況下，短期投機(jī)只會(huì)失去 5000 元而 投機(jī)者會(huì)得到長(zhǎng)期貸款。農(nóng)夫處于持有短期的立場(chǎng)， 每單位失去了一元。你與有線電視公司簽訂協(xié)議與期貨合約合同相類似，即在合同里面確定了你所接受商品的未來(lái)價(jià)格以及交割條件。s review the basics: ? The futures market is a global marketplace, initially created as a place for farmers and merchants to buy and sell modities for either spot or future delivery. This was done to lessen the risk of both waste and scarcity. ? Rather than trade in physical modities, futures markets buy and sell futures contracts, which state the price per unit, type, value, quality and quantity of the modity in question, as well as the month the contract expires. ? The players in the futures market are hedgers and speculators. A hedger tries to minimize risk by buying or selling now in an effort to avoid rising or declining prices. Conversely, the speculator will try to profit from the risks by buying or selling now in anticipation of rising or declining prices. ? The CFTC and the NFA are the regulatory bodies governing and monitoring futures markets in the . It is important to know your rights. ? Futures accounts are credited or debited daily depending on profits or losses