Abstract: With the massive access of distributed energy and the gradual transformation of power system operation mode, users have changed from traditional consumers to prosumers with power production/consumption behavior in community microgrid system (CMS). Through introducing a peer-to-peer (P2P) energy trading mechanism, prosumers independent energy management and independent pricing strategy was achieved. Considering the differentiation characteristics of prosumers, four typical prosumers formed autonomously by CMS internal resources were modeled. Then, based on the continuous bilateral auction mechanism, the P2P energy trading framework of the day-ahead stage prosumer was built. Each prosumer considered the historical trading decision information to maximize their individual interests. Through the exchange of limited information, the prosumers initiate transaction requested with each other to realize the P2P energy transaction among prosumers in CMS. In order to protect the privacy of the prosumers in the transaction process, a P2P bidding strategy based on multi-stage bidding mechanism was proposed. It could not only reduce the information exposure risk of the prosumers, but also reduce the risk degree of single bidding decision, and ensure the stability of the income of prosumers. Finally, an example was given to verify that the designed P2P trading mechanism can effectively protect the transaction privacy of prosumers and improve its economic benefits.