什么是预警平仓？

预警平仓是金融衍生品交易中的一个重要概念，它指的是当投资者的账户资金不足以支持其持仓合约的保证金要求时，交易平台会发出预警，并在一定条件下自动或手动平掉部分或全部仓位，以避免投资者因资金不足而面临强制平仓的风险。

预警平仓机制的存在，是为了保护投资者利益和市场的稳定。当市场行情发生剧烈波动，或者投资者持仓方向与市场走势相反时，账户资金可能会迅速减少，一旦低于交易平台设定的保证金要求，就会触发预警平仓机制。通过及时平仓，可以减少投资者的损失，并防止市场出现过度波动。

预警平仓机制通常包括预警线和平仓线两个阈值。当账户资金低于预警线时，交易平台会发出预警通知，提醒投资者及时补充资金或调整持仓。如果投资者未能及时采取措施，当账户资金进一步减少至平仓线以下时，交易平台将自动或手动平掉部分或全部仓位，以保证投资者的资金安全。

需要注意的是，预警平仓并不是交易平台对投资者的强制干预，而是基于市场规则和合约约定的一种风险控制手段。投资者在参与金融衍生品交易时，应当充分了解并遵守相关规则和约定，合理安排资金和风险控制策略。

What is Margin Call and Liquidation?

Margin call and liquidation are crucial concepts in financial derivative trading. When an investor's account balance falls below the required margin level to support their open positions, the trading platform issues a margin call and, under certain conditions, automatically or manually closes out some or all of the positions to avoid the risk of forced liquidation due to insufficient funds.

The mechanism of margin call and liquidation exists to protect the interests of investors and market stability. In situations of severe market volatility or when an investor's positions move against the market trend, the account balance can rapidly decline. Once it dips below the margin requirement set by the trading platform, the margin call and liquidation mechanism is triggered. Prompt liquidation can mitigate investors' losses and prevent excessive market fluctuations.

The margin call and liquidation mechanism typically involves two thresholds: the margin call level and the liquidation level. When the account balance dips below the margin call level, the trading platform issues a notification, urging investors to replenish funds or adjust their positions. If investors fail to take prompt action, and the account balance further declines below the liquidation level, the trading platform automatically or manually closes out some or all of the positions to safeguard investors' capital.

It's worth noting that margin call and liquidation are not强制 interventions by the trading platform but rather risk control measures based on market rules and contract agreements. Investors participating in financial derivative trading should fully understand and comply with the relevant rules and agreements,合理安排 capital and risk control strategies.