Research On Commodity Futures Trading System In China

As the rapid development of China's commodity future market,new commodity futures are beginning to come into the market.The biggest problem is that it is difficult for speculators to make profits,though it seems to gain big success in such a huge market.This essay provides a solution to solve this kind of problem.The first chapter of this essay starts from background research and motivation analysis,and then we put forward an argument and show the structure of the thesis.The second chapter introduces research about technical analysis,trading psychology and trading system establishment.Basis on this,we introduce economic and finance foundations related to the argument.According to literature review,we discuss two main factors which can make sustained profit in futures trading-building trading system and following the system efficiently.The third chapter begins to elaborate how to build the trading system and specifically discuss two main factors that can make sustained profit.The futures trading system establishment contains mainly about capital management,risk control and analysis techniques.The analysis techniques also contains mainly about analysis about fundamentals,techniques,macro-economics,policies.The trading system discusses breakthrough trading and back trading which is affiliate with project management.After building trading system,this chapter begins to discuss the second factor to make a sustained profit-executing trading system efficiently.Then we elaborate trading behavior model,psychology and philosophy.The fourth and fifth chapter tests the trading system from two aspects:same product and different periods or same period and different products,the results can verify feasibility and profit stability of the trading system.In consideration of different trading habits and styles from traders,we elaborate how to select product and period in the process of testing trading system according to the data and trader's situation.The last chapter summarizes the views and feasibility of the essay,and then elaborates the solved problem,the unsolved problems of futures trading and our research directions in the future.