期貨真的是零和嗎？ - 期貨
By Madame
at 2010-10-29T15:20
at 2010-10-29T15:20
Table of Contents
扣掉手續費，
期指和選擇權真的是零和嗎？
當然是。
但是上次的資金規模實驗給了我一點啟發...
直接舉實例說，
假設有 A 和 B 兩人，每個人各投入500點(NT$10萬)玩台指期當沖
當沖一口需要160點，為了怕太早畢業，所以嚴格限制用200點做一口
兩人進出策略剛好相反，手續費和交易稅期貨商招待所以免費
Day 1. A每口賺了120點 B每口當然就賠120點
500 + 2x120 = 500 - 2x120 =
740 260
Day 2. A每口賠了120點 B每口賺了120點
740 - 3x120 = 260 + 1x120 =
380 380
表面上，這是個對兩人而言，不會賺錢也不會賠錢的策略
但才經過兩天...兩人合計240點的點數已經流落到不知道誰的口袋去了。 XD
...類似流程，以下略...過不久A、B都畢業了
...
心得：
對散戶而言... 零和？... T_T
就算是看法相反，也不見得就是沒輸沒贏虧手續費…
避免口數被洗小，應該是個關鍵吧。
其實這還有種深層意義...
i.e. 就算找到很會賠錢的策略然後對做，不代表你就能賺錢....
--
Money can't buy happiness but it can buy performance
--
期指和選擇權真的是零和嗎？
當然是。
但是上次的資金規模實驗給了我一點啟發...
直接舉實例說，
假設有 A 和 B 兩人，每個人各投入500點(NT$10萬)玩台指期當沖
當沖一口需要160點，為了怕太早畢業，所以嚴格限制用200點做一口
兩人進出策略剛好相反，手續費和交易稅期貨商招待所以免費
Day 1. A每口賺了120點 B每口當然就賠120點
500 + 2x120 = 500 - 2x120 =
740 260
Day 2. A每口賠了120點 B每口賺了120點
740 - 3x120 = 260 + 1x120 =
380 380
表面上，這是個對兩人而言，不會賺錢也不會賠錢的策略
但才經過兩天...兩人合計240點的點數已經流落到不知道誰的口袋去了。 XD
...類似流程，以下略...過不久A、B都畢業了
...
心得：
對散戶而言... 零和？... T_T
就算是看法相反，也不見得就是沒輸沒贏虧手續費…
避免口數被洗小，應該是個關鍵吧。
其實這還有種深層意義...
i.e. 就算找到很會賠錢的策略然後對做，不代表你就能賺錢....
--
Money can't buy happiness but it can buy performance
--
Tags:
期貨
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