[{"data":1,"prerenderedAt":218},["ShallowReactive",2],{"faq":3},{"id":4,"title":5,"body":6,"description":12,"extension":17,"items":18,"meta":212,"navigation":213,"path":214,"seo":215,"stem":216,"__hash__":217},"faq\u002Ffaq\u002Findex.md","常見問題",{"type":7,"value":8,"toc":13},"minimark",[9],[10,11,12],"p",{},"以下是新手從單純買入資產、轉向槓桿交易時最常提出的問題：該承擔多少風險、把止損設在哪裡、波動率與期望值如何形塑一套策略，以及槓桿、強制平倉、資金費率與合約規格實際上如何運作。每個答案都先給出直接的回應，再補上簡短的說明，並指向能深入了解的課程單元與詞彙表詞條。",{"title":14,"searchDepth":15,"depth":15,"links":16},"",2,[],"md",[19,26,30,34,40,47,51,57,63,67,74,78,84,90,97,101,105,111,117,124,130,134,138,145,149,153,157,164,170,176,182,187,191,195,202,208],{"question":20,"answer":21,"theme":22,"readNext":23,"sourceName":24,"sourceUrl":25},"單筆交易應該承擔多少風險？","每一筆交易大約只承擔帳戶的 1%，且不超過 2%。\n\n這裡的風險指的是止損被觸及時的虧損，而非倉位的全部價值。以 1% 計算，即使連續虧損十次，也只會損失帳戶約 10%，仍可回復。\n","風險與倉位規模","延伸閱讀：課程 1 單元 2（倉位規模）；詞彙表：1% 法則","Corporate Finance Institute: Money Management","https:\u002F\u002Fcorporatefinanceinstitute.com\u002Fresources\u002Fcapital-markets\u002Fmoney-management\u002F",{"question":27,"answer":28,"theme":22,"readNext":29,"sourceName":24,"sourceUrl":25},"如何計算倉位規模？","將你願意承擔的風險金額，除以進場價到止損價之間每單位的距離。\n\n這樣一來，無論交易哪一種商品，該筆交易的虧損金額都會固定。在相同的風險金額下，止損越寬，倉位越小；止損越緊，倉位越大。\n","延伸閱讀：課程 1 單元 2；詞彙表：倉位規模公式",{"question":31,"answer":32,"theme":22,"readNext":33,"sourceName":24,"sourceUrl":25},"為何要依風險計算倉位，而非依想買多少來決定？","因為真正威脅帳戶的，是你可能虧損的金額，而非倉位的面值。\n\n一個 $10,000 的倉位，若止損設在 5% 之外，實際只承擔 $500 的風險。依風險計算倉位，能避免槓桿誤導你承受過大的虧損。\n","延伸閱讀：課程 1 單元 2；詞彙表：名義價值與風險",{"question":35,"answer":36,"theme":22,"readNext":37,"sourceName":38,"sourceUrl":39},"一個真正有獲利能力的策略，仍可能拖垮我的帳戶嗎？","會，如果你每筆交易承擔的風險過大。因為即使擁有良好的優勢，也會遇到正常的連續虧損。\n\n這稱為破產風險：一連串虧損可能在優勢發揮作用之前就耗盡帳戶。每筆交易維持小而穩定的風險，才能讓有獲利能力的策略存活下來。\n","延伸閱讀：課程 1 單元 1（風險管理為先）；詞彙表：破產風險","Grinstead and Snell, Introduction to Probability (Gambler's Ruin)","https:\u002F\u002Fstats.libretexts.org\u002FBookshelves\u002FProbability_Theory\u002FIntroductory_Probability_(Grinstead_and_Snell)\u002F12:_Random_Walks\u002F12.02:_Gambler's_Ruin",{"question":41,"answer":42,"theme":43,"readNext":44,"sourceName":45,"sourceUrl":46},"應該把止損設在哪裡？","把止損設在能證明你的交易想法錯誤的位置，再依這段距離決定倉位規模。\n\n止損應設在支撐或阻力位之外，或波動區間之外，而不是隨意設定一個金額。如果合理的止損距離超出你的風險預算，應該縮小交易規模，而非改用更緊、不合邏輯的止損。\n","止損與回撤","延伸閱讀：課程 1 單元 3（止損與回撤）；詞彙表：止損","U.S. SEC (Investor.gov): Investor Bulletin, Stop, Stop-Limit, and Trailing Stop Orders","https:\u002F\u002Fwww.investor.gov\u002Fintroduction-investing\u002Fgeneral-resources\u002Fnews-alerts\u002Falerts-bulletins\u002Finvestor-bulletins-15",{"question":48,"answer":49,"theme":43,"readNext":50,"sourceName":45,"sourceUrl":46},"如果交易走勢對我不利，應該把止損移得更遠嗎？","不應該。放寬已掛出的止損，會把原本計劃好的小額虧損變成無上限的虧損。\n\n止損只應朝對你有利的方向移動，也就是作為追蹤止損。把它往外移，正是 1% 的風險在不知不覺間變成 10% 虧損的原因。\n","延伸閱讀：課程 1 單元 3；詞彙表：追蹤止損",{"question":52,"answer":53,"theme":43,"readNext":54,"sourceName":55,"sourceUrl":56},"如果帳戶虧損了 50%，需要賺回多少才能回本？","你需要 100% 的獲利，而不是 50%，因為現在是從更小的本金基礎開始增長。\n\n回本是不對稱的：10% 的虧損需要約 11.1% 才能回本，25% 的虧損需要 33.3%，而 75% 的虧損則需要 300%。這正是為何把虧損控制在小範圍如此重要。\n","延伸閱讀：課程 1 單元 1 與 3；詞彙表：回撤回復","Journal of Risk and Financial Management: Maximum Drawdown, Recovery, and Momentum","https:\u002F\u002Fwww.mdpi.com\u002F1911-8074\u002F14\u002F11\u002F542",{"question":58,"answer":59,"theme":43,"readNext":60,"sourceName":61,"sourceUrl":62},"什麼是回撤？為何需要追蹤它？","回撤是帳戶從高峰跌到之後低點的跌幅，用來衡量一個策略有多痛苦、以及能否撐得過去。\n\n最大回撤是某段期間內最嚴重的一次跌幅。由於深度回撤需要不成比例的巨大獲利才能回復，控制回撤是維持資金不枯竭的關鍵。\n","延伸閱讀：課程 1 單元 3；詞彙表：回撤、最大回撤","Goldberg and Mahmoud (Mathematics and Financial Economics): Drawdown, From Practice to Theory and Back Again","https:\u002F\u002Farxiv.org\u002Fabs\u002F1404.7493",{"question":64,"answer":65,"theme":43,"readNext":66,"sourceName":45,"sourceUrl":46},"止損能保證我剛好在該價格出場嗎？","不能。止損保證的是出場，而非成交價；在快速變動或跳空的市場中，你的成交價可能更差。\n\n預期價格與實際成交價之間的差距就是滑價。計算倉位時預留一點空間，才不會讓計劃中的虧損在不知不覺間擴大。\n","延伸閱讀：課程 1 單元 3；詞彙表：滑價",{"question":68,"answer":69,"theme":70,"readNext":71,"sourceName":72,"sourceUrl":73},"什麼是波動率？為何它對風險很重要？","波動率是價格隨時間波動的幅度，它決定了在你的判斷還未被證明錯誤之前，交易可能對你不利到什麼程度。\n\n它完全不代表方向，只代表波動的幅度。波動越大，止損就應該越寬，因此在相同的風險金額下，倉位也應越小。\n","波動率","延伸閱讀：課程 1 單元 4（波動率）；詞彙表：波動率","Corporate Finance Institute: Volatility","https:\u002F\u002Fcorporatefinanceinstitute.com\u002Fresources\u002Fcapital-markets\u002Fvolatility-vol\u002F",{"question":75,"answer":76,"theme":70,"readNext":77,"sourceName":72,"sourceUrl":73},"高波動率是否代表價格即將上漲或下跌？","不是。波動率衡量的是價格變動的幅度，而非方向。\n\n高波動的商品可能朝任一方向劇烈變動。像標準差與 ATR 這類指標，本質上就不帶方向性。\n","延伸閱讀：課程 1 單元 4；詞彙表：平均真實區間 (ATR)",{"question":79,"answer":80,"theme":70,"readNext":81,"sourceName":82,"sourceUrl":83},"如何根據商品的波動程度來設定止損？","把止損設在平均真實區間的某個倍數之外，例如 1.5 或 2 倍 ATR，再依此決定倉位規模。\n\nATR 以商品的價格單位計價，因此能直接代入倉位規模公式。當波動率上升，止損會變寬，倉位也會自動縮小。\n","延伸閱讀：課程 1 單元 4；詞彙表：平均真實區間 (ATR)、真實區間","Corporate Finance Institute: Average True Range (ATR)","https:\u002F\u002Fcorporatefinanceinstitute.com\u002Fresources\u002Fequities\u002Faverage-true-range\u002F",{"question":85,"answer":86,"theme":70,"readNext":87,"sourceName":88,"sourceUrl":89},"交易者為何要把波動率乘以時間的平方根？","因為波動率是隨時間的平方根、而非時間本身而變化，這是由於變異數會在各個獨立期間之間相加。\n\n要把每日標準差年化，需乘以 252 個交易日的平方根。這條法則假設報酬彼此獨立，因此在危機期間、當價格變動聚集出現時，可能會低估風險。\n","延伸閱讀：課程 1 單元 4；詞彙表：年化波動率、變異數","CFA Institute: What's Wrong with Multiplying by the Square Root of Twelve","https:\u002F\u002Frpc.cfainstitute.org\u002Fresearch\u002Fcfa-digest\u002F2013\u002F11\u002Fwhats-wrong-with-multiplying-by-the-square-root-of-twelve-digest-summary",{"question":91,"answer":92,"theme":93,"readNext":94,"sourceName":95,"sourceUrl":96},"高勝率是否代表一套系統能獲利？","不一定。如果虧損相對於獲利過大，即使系統在多數交易中獲勝，仍可能是虧錢的。\n\n舉例來說，勝率 70%、但以承擔 3 換取賺 1 的系統，其期望值為 (0.7 × 1) − (0.3 × 3)，即每筆交易 -0.2R，屬於虧損系統。勝率唯有與獲利相對於虧損的大小一併考量，才有意義。\n","期望值與勝率","延伸閱讀：課程 1 單元 5（風險報酬與期望值）；詞彙表：勝率、期望值","Grinstead and Snell, Introduction to Probability (Expected Value)","https:\u002F\u002Fstats.libretexts.org\u002FBookshelves\u002FProbability_Theory\u002FIntroductory_Probability_(Grinstead_and_Snell)\u002F06:_Expected_Value_and_Variance\u002F6.01:_Expected_Value_of_Discrete_Random_Variables",{"question":98,"answer":99,"theme":93,"readNext":100,"sourceName":95,"sourceUrl":96},"究竟是什麼讓一套交易系統能獲利？","正期望值，意思是當你依獲利與虧損各自發生的頻率加權後，每筆交易的平均結果為盈利。\n\n期望值把勝率與報酬風險比結合成單一數字。勝率 40%、報酬風險比 3:1 的系統，其結果為 (0.4 × 3) − (0.6 × 1)，即每筆交易 +0.6R，儘管多數交易虧損，仍是一套能獲利的系統。\n","延伸閱讀：課程 1 單元 5；詞彙表：期望值（Expectancy）、期望值（Expected value）",{"question":102,"answer":103,"theme":93,"readNext":104,"sourceName":95,"sourceUrl":96},"怎樣才算好的風險報酬比？","沒有單一的好數字；合適的比率取決於你的勝率，而只有期望值能告訴你這個組合是否能獲利。\n\n把目標價拉遠會提高報酬風險比，卻會降低勝率；把它拉近則相反。應以正期望值為目標，而非追求某個特定比率。\n","延伸閱讀：課程 1 單元 5；詞彙表：風險報酬比、R 倍數",{"question":106,"answer":107,"theme":93,"readNext":108,"sourceName":109,"sourceUrl":110},"如果我有優勢，應該押上帳戶的多少比例？","遠低於完整凱利公式算出的金額；多數交易者只用其中一小部分，這正是 1% 法則常見的原因。\n\n凱利公式給出的是使增長最佳化的下注比例，但完整凱利非常激進，而優勢的估計又存在誤差，因此實務上會採用二分之一或四分之一凱利。1% 法則刻意設在遠低於完整凱利的水準。\n","延伸閱讀：課程 1 單元 5；詞彙表：凱利公式、分數凱利","Edward O. Thorp: The Kelly Criterion in Blackjack, Sports Betting, and the Stock Market","https:\u002F\u002Fsites.oxy.edu\u002Flengyel\u002FM330\u002Fthorp\u002Fpaper.htm",{"question":112,"answer":113,"theme":93,"readNext":114,"sourceName":115,"sourceUrl":116},"為何不在虧損後直接把倉位加倍，把錢賺回來？","因為那是馬丁格爾策略，它會在你最錯的時候把風險敞口推到最大，可能造成無法挽回的虧損。\n\n一段較長的連續虧損就會讓帳戶破產。向下攤平、對虧損倉位加碼，只是同一個錯誤的另一種形式。\n","延伸閱讀：課程 1 單元 7（帳戶如何爆倉）；詞彙表：馬丁格爾策略、向下攤平","UNLV Center for Gaming Research: A Statistical Analysis of the Roulette Martingale System","https:\u002F\u002Foasis.library.unlv.edu\u002Fcgi\u002Fviewcontent.cgi?article=1630&context=gaming_institute",{"question":118,"answer":119,"theme":120,"readNext":121,"sourceName":122,"sourceUrl":123},"什麼是槓桿？它危險嗎？","槓桿讓你能控制比自身現金更大的倉位，並會相對於你的資本放大獲利與虧損。\n\n它不會改變資產本身的漲跌，只會改變其相對於你資金的規模：在 10x 槓桿下，5% 的變動會變成你權益的 50%。它是風險放大器，而非一種策略。\n","槓桿與保證金","延伸閱讀：課程 1 單元 6 與課程 2 單元 4；詞彙表：槓桿","U.S. CFTC: Customer Advisory, Understand the Risks of Virtual Currency Trading","https:\u002F\u002Fwww.cftc.gov\u002FLearnAndProtect\u002FAdvisoriesAndArticles\u002Funderstand_risks_of_virtual_currency.html",{"question":125,"answer":126,"theme":120,"readNext":127,"sourceName":128,"sourceUrl":129},"什麼是保證金？初始保證金與維持保證金有何差別？","保證金是你為開立槓桿倉位而存入的資金；初始保證金用於開倉，維持保證金則是持有該倉位所必須維持的最低金額。\n\n一旦低於維持保證金水準，你就會面臨追繳保證金或強制平倉。兩者之間的差額是一層緩衝，讓價格在交易平台採取行動前有變動空間。\n","延伸閱讀：課程 2 單元 4（槓桿與保證金）；詞彙表：保證金、初始保證金、維持保證金","U.S. SEC (Investor.gov): Investor Bulletin, Understanding Margin Accounts","https:\u002F\u002Fwww.investor.gov\u002Fintroduction-investing\u002Fgeneral-resources\u002Fnews-alerts\u002Falerts-bulletins\u002Finvestor-bulletins-29",{"question":131,"answer":132,"theme":120,"readNext":133,"sourceName":122,"sourceUrl":123},"使用更高的槓桿會讓我的交易更容易成功嗎？","不會。更高的槓桿不會提高你的勝算，只會縮減交易在被強制平倉前的可承受空間。\n\n無論槓桿高低，資產變動的百分比都相同。槓桿越高，只是意味著更小的不利變動就能抹去你的保證金。\n","延伸閱讀：課程 1 單元 6；詞彙表：槓桿、強制平倉價",{"question":135,"answer":136,"theme":120,"readNext":137,"sourceName":122,"sourceUrl":123},"新手應該使用多少槓桿？","越低越好，只用所需的程度，並依你的單筆風險預算來決定，而非依交易平台提供的上限。\n\n低槓桿能讓強制平倉價遠離進場價，並讓結束交易的是你的止損，而非交易所。多數爆倉的帳戶並非看錯方向，而是被一次正常的價格變動強制平倉。\n","延伸閱讀：課程 1 單元 6 與 7；詞彙表：槓桿、強制平倉",{"question":139,"answer":140,"theme":141,"readNext":142,"sourceName":143,"sourceUrl":144},"為何在價格還沒歸零前，我的倉位就會被強制平倉？","因為當虧損把你的保證金削減到維持保證金水準時，就會發生強制平倉，而這個水準遠在價格歸零之前就會被觸及。\n\n在 10x 槓桿下，只要約 10% 的不利變動，你的全部保證金就幾乎耗盡，而由於維持保證金緩衝，強制平倉會在那之前稍早觸發。槓桿越高，所需的變動幅度就越小。\n","強制平倉","延伸閱讀：課程 2 單元 6（強制平倉機制）；詞彙表：強制平倉、維持保證金","CME Group: Margin, Know What's Needed","https:\u002F\u002Fwww.cmegroup.com\u002Feducation\u002Fcourses\u002Fintroduction-to-futures\u002Fmargin-know-what-is-needed",{"question":146,"answer":147,"theme":141,"readNext":148,"sourceName":143,"sourceUrl":144},"如何計算我的強制平倉價？","以逐倉多倉而言，一個被廣泛使用的估算方式是：進場價 ×（1 − 1\u002FL + 維持保證金率）；賣空時符號相反。\n\n舉例來說，一個在 $60,000 進場、使用 10x 槓桿、維持保證金率為 0.5% 的多倉，其強制平倉價約在 $54,300，距離進場價約 9.5%。確切數字會因交易平台、以及逐倉或全倉而有所不同。\n","延伸閱讀：課程 2 單元 6；詞彙表：強制平倉價、維持保證金率 (MMR)",{"question":150,"answer":151,"theme":141,"readNext":152,"sourceName":122,"sourceUrl":123},"如何避免被強制平倉？","使用低槓桿，並把止損設在遠比強制平倉價更靠內的位置，讓你先行出場。\n\n同時保留多餘的保證金，而不是只存入最低限度，並記住資金費率與手續費同樣會侵蝕保證金。強制平倉是槓桿造成的問題，而降低槓桿正是解方。\n","延伸閱讀：課程 2 單元 6；詞彙表：強制平倉、止損",{"question":154,"answer":155,"theme":141,"readNext":156,"sourceName":128,"sourceUrl":129},"追繳保證金與強制平倉有何差別？","追繳保證金是在權益跌破維持保證金時要求你補入資金；若未能滿足，強制平倉就是被迫關閉該倉位。\n\n在許多加密貨幣交易平台上，根本沒有時間回應追繳，倉位會直接被強制平倉。兩者都是在權益觸及維持保證金水準時被觸發。\n","延伸閱讀：課程 2 單元 4 與 6；詞彙表：追繳保證金、強制平倉",{"question":158,"answer":159,"theme":160,"readNext":161,"sourceName":162,"sourceUrl":163},"現貨與衍生工具有何差別？","在現貨市場，你當下買入並實際擁有該資產；衍生工具則是一份價值衍生自該資產的合約，你持有的是這份合約，而非資產本身。\n\n現貨是直接持有，虧損以你所付出的金額為上限。衍生工具讓你能使用槓桿、對沖或做空，但也帶來額外風險，例如強制平倉，以及永續合約的資金費率。\n","期貨與永續合約","延伸閱讀：課程 2 單元 1（現貨與衍生工具）；詞彙表：現貨市場、衍生工具","U.S. CFTC: Glossary (Derivative)","https:\u002F\u002Fwww.cftc.gov\u002FLearnAndProtect\u002FEducationCenter\u002FCFTCGlossary\u002Fglossary_d.html",{"question":165,"answer":166,"theme":160,"readNext":167,"sourceName":168,"sourceUrl":169},"有到期日的期貨與永續合約有何差別？","有到期日的期貨設有到期日，並於到期時結算；永續合約則沒有到期日，可以無限期持有。\n\n由於沒有到期日把價格拉向現貨，永續合約以資金費率與標記價格來維持錨定。永續合約是加密貨幣市場中最主流的衍生工具。\n","延伸閱讀：課程 2 單元 2 與 3；詞彙表：期貨合約、永續合約","He, Manela, Ross, and von Wachter: Fundamentals of Perpetual Futures","https:\u002F\u002Farxiv.org\u002Fabs\u002F2212.06888",{"question":171,"answer":172,"theme":160,"readNext":173,"sourceName":174,"sourceUrl":175},"做空是什麼意思？","做空是指建立一個在價格下跌時獲利的倉位，做法是先賣出開倉，之後再買回。\n\n在衍生工具中，你可以在未持有資產的情況下賣空。這種對稱性，也就是做空與做多同樣容易，是期貨與永續合約的主要吸引力之一。\n","延伸閱讀：課程 2 單元 2；詞彙表：賣空、多倉","U.S. SEC (Investor.gov): Investor Bulletin, An Introduction to Short Sales","https:\u002F\u002Fwww.investor.gov\u002Fintroduction-investing\u002Fgeneral-resources\u002Fnews-alerts\u002Falerts-bulletins\u002Finvestor-bulletins-51",{"question":177,"answer":178,"theme":160,"readNext":179,"sourceName":180,"sourceUrl":181},"我必須把期貨合約持有到到期為止嗎？","不必。多數投機者會在到期前平倉或轉倉，而不是等待結算。\n\n平倉是以現金結算的方式沖銷合約的盈虧；轉倉則是把風險敞口移到到期日較晚的合約。若把實物交割的合約持有至到期，則有義務交割實際資產。\n","延伸閱讀：課程 2 單元 2 與 7；詞彙表：轉倉、到期","CME Group: Understanding Futures Expiration and Contract Roll","https:\u002F\u002Fwww.cmegroup.com\u002Feducation\u002Fcourses\u002Fintroduction-to-futures\u002Funderstanding-futures-expiration-contract-roll",{"question":183,"answer":184,"theme":185,"readNext":186,"sourceName":168,"sourceUrl":169},"什麼是資金費率？由誰付給誰？","資金費率是永續合約的多方與空方持有者之間定期直接交換的款項，用來讓合約價格貼近指數；當永續合約的價格高於指數時，多方付給空方；低於指數時，則由空方付給多方。\n\n它取代了為有到期日的期貨提供錨定作用的到期機制。人數較多的一方會持續付款給另一方，藉此把價格推回貼近標的。\n","資金費率","延伸閱讀：課程 2 單元 5（資金費率）；詞彙表：資金費率",{"question":188,"answer":189,"theme":185,"readNext":190,"sourceName":168,"sourceUrl":169},"資金費率是我付給交易所的費用嗎？","不是。資金費率在交易者之間流動，由市場的一方付給另一方，而非付給交易平台。\n\n它不是佣金，也不是買賣價差。它存在的唯一目的，是讓永續合約價格錨定於標的指數。\n","延伸閱讀：課程 2 單元 5；詞彙表：資金費率、指數價格",{"question":192,"answer":193,"theme":185,"readNext":194,"sourceName":168,"sourceUrl":169},"資金費率實際上會讓我付出多少成本？","資金費率是按倉位的名義價值收取，因此相對於你的保證金，槓桿會將它放大。\n\n對 $50,000 的名義價值，每 8 小時收取 0.01% 的費率，即每次結算 $5，一天約 $15，一個月大約 $450。若保證金餘額不多，這可能會超過小幅的價格獲利。\n","延伸閱讀：課程 2 單元 5；詞彙表：資金費率、名義價值",{"question":196,"answer":197,"theme":198,"readNext":199,"sourceName":200,"sourceUrl":201},"為何一張合約不等於一單位的資產？","因為合約規格設定了規模或乘數，所以一張合約通常代表許多單位。\n\n一張標準黃金期貨合約為 100 金衡盎司，一張標準比特幣期貨合約為 5 枚比特幣，而一張標準股票指數期貨則為每一指數點 50 美元。交易前務必詳閱合約規格。\n","合約基礎","延伸閱讀：課程 2 單元 7（解讀合約規格）；詞彙表：合約規模、乘數","CME Group: Bitcoin Futures Contract Specifications","https:\u002F\u002Fwww.cmegroup.com\u002Ftrading\u002Fbitcoin-futures.html",{"question":203,"answer":204,"theme":198,"readNext":205,"sourceName":206,"sourceUrl":207},"現金結算與實物交割有何差別？","現金結算以現金支付淨價差；實物交割則交付實際的標的資產。\n\n股票指數期貨採現金結算，因為指數無法交割；而黃金期貨則可以交割金屬。持有實物交割合約的投機者，必須在交割前平倉或轉倉。\n","延伸閱讀：課程 2 單元 2 與 7；詞彙表：現金結算、實物交割","CME Group: Get to Know Futures Expiration and Settlement","https:\u002F\u002Fwww.cmegroup.com\u002Feducation\u002Fcourses\u002Fintroduction-to-futures\u002Fget-to-know-futures-expiration-and-settlement",{"question":209,"answer":210,"theme":198,"readNext":211,"sourceName":168,"sourceUrl":169},"什麼是標記價格？為何它很重要？","標記價格是合約的公允價值價格，由指數價格計算而來，用於計算你的未實現盈虧、資金費率與強制平倉。\n\n由於強制平倉是依標記價格觸發，而非最後成交價，因此某個交易平台上短暫的價格急升，並不會錯誤地把你強制平倉。務必清楚你的交易平台以哪個價格作為強制平倉依據。\n","延伸閱讀：課程 2 單元 3（永續合約）；詞彙表：標記價格、指數價格",{},true,"\u002Ffaq",{"title":5,"description":12},"faq\u002Findex","3xlNdIHGO8vhUXbdkVauAa4h1rgPPlByeBzhvXSNWWo",1786955979310]