Futures Tutorials

TWAP可以把大订单拆成按时间执行的小订单，但交易者仍需要限价、取消规则和快速行情预案。

TWAP can split a larger order into timed slices, but traders still need limits, cancellation rules and a plan for fast markets.

Kraken的临近强平框架给出四个选择：追加保证金、减仓、在强平价前设置止损，或主动平仓接受可控亏损。

Kraken’s near-liquidation framework points to four choices: add margin, reduce size, use a stop, or close the position deliberately.

CME的小型加密期货合约，可以帮助交易者把方向观点和仓位规模风险分开处理。

CME’s smaller crypto futures contracts can help traders separate directional views from position-size risk.

油价走强、美元偏强和黄金震荡同时出现时，宏观期货交易者更应先控制仓位，而不是只看单一新闻方向。

Oil strength, a firm dollar and choppy gold action make position sizing more important than headline direction for macro futures traders.

永续合约没有到期日，因此资金费率就是让合约价格贴近现货的周期性成本。隔夜或长时间持仓前，交易者应先计算这笔费用。

Perpetual contracts do not expire, so the funding rate is the recurring cost that keeps them near spot. Traders should calculate it before deciding to hold leveraged positions overnight.