Trade prospects

The current purpose of the commodity exchange is to create China’s pricing power for international commodities. The prospects are good.

Speculative business

Futures: Leverage 1:10 (ps general situation)

Stocks: no leverage, can only be long, short selling requires 100,000 funds

Spot: Leverage 1:5, both long and short can be used, and funds can generally be operated with 1,000 yuan

Spot advantage

(1) The stock market will still be profitable after 20 years Immature, "financing" is one of its main purposes; the bear market is long and the bull market is short, the bull market has been 4-5 years, and the bear market has been in the past 15 years; the statements of listed companies may be falsified; information is asymmetric; and the risks are high. The spot information is open, fair, fair, and simple and clear. Its purpose is to form a "reasonable price for bulk commodities" through the market.

(2) The stock price is "fictitious". Theoretically speaking, it will take 100 years for a stock price with a price-to-earnings ratio of 100 to recover the investment, which is highly uncertain and risky. The spot price is based on the physical commodity, and the price is close to the actual commodity price.

(3) It will take 3-5 years for the stock market to get out of a high position. For example, if you buy "PetroChina Stock" for 48 yuan, you don't know when the position will be unwound. When buying "spot oil", the price is generally upward.

(4) Futures must be "forced to liquidate" regardless of profit or loss upon expiration. The risk is relatively high, and a leverage of 15 times or more is "easy to liquidate". The spot can be held for a long time, and traders can enjoy the benefits of the overall upward trend in commodity prices.

(5) A wider range of participants

Low market entry threshold and long trading time allow a wider range of participants. In addition to fixed stock and futures investors, it is also suitable for investment and financial management by white-collar workers, civil servants, teachers, individual business operators and managers. The higher investment amount in the futures market has certain limitations.

Reference: Introduction to spot trading

/forum.php?mod=viewthread&tid=197&fromuid=1

The key

If it is pure speculation , there is no difference in speculation. If it is trading, spot trading is the future trend.