Commodities, stocks, futures and spot gold have the following points:

First, the trading mechanisms are different. Commodities are T+0, trading is flexible and convenient, while stocks are T+ 1. The traditional trading mechanism is slow. Futures and spot gold are also T+0, making trading flexible and convenient;

Second, the profit model is different. Commodities are two-way transactions, going long when they rise and short when they fall. Stocks are one-way transactions, and profits can only be made when stocks rise. Futures and spot gold are also two-way transactions, going long when it goes up and short when it goes down;

Thirdly, the margins for transactions are different, and the margin for commodities is 20%. , the price fluctuation is rational, the risk is moderate, and the capital utilization rate is 5 times. The stock is 100%, the capital utilization rate is low, the risk is moderate. The trading margin of futures is 5-10%, the risk is high, and the capital utilization rate is 10 times. , the leverage ratio of spot gold is generally 1:600, and the investment risk is huge; traders do not need to pay the full payment equal to the contract amount, but only need to pay a performance deposit of 5% to 15%. Controlling the entire value of a futures contract with a small amount of capital is certainly exciting for traders. Leverage is one of the reasons why the futures market attracts speculators. The margin system not only magnifies the profit ratio, it also magnifies the risk.

Fourth, the security of funds is different. Commodities, stocks and futures are all handed over to banks for third-party supervision, and funds are safe and transparent. However, gold spot funds are remitted abroad, which has a low safety factor and no guarantee. ;

Fifth, it is suitable but different from customers. The threshold for commodities is low and suitable for mass customers to invest and participate. Although the threshold for stocks is low, returns are slow and the general trend is difficult to grasp. The threshold for futures is high and the room for price fluctuations is large. It is difficult for investors to grasp, and spot gold requires strong technical analysis capabilities and risk tolerance;

Sixth, the rate of return is different, commodity investment opportunities are large, limited funds can obtain greater returns, and stocks Investment opportunities are limited, and few people make profits in a bear market. Futures have high returns but also high risks. Gold spot has high returns but also high risks. However, futures and gold spot are not suitable for ordinary investors.

1. The difference between spot trading and securities trading:

1. The transfer of ownership is different: securities are delivered immediately and ownership is transferred; spot goods are transferred only after the delivery of goods is completed

2. Market information sources are not required: securities are secondary markets, and information sources are multifaceted and difficult to grasp; spot goods are In the primary market, the prices are open and the credibility is high

3. The trading systems are different: securities can be operated in one direction; spot can be operated in both directions

4. T+0 and T+ The difference between 1: securities is T+1; spot is T+0

5. The margin regulations are different: full funds must be paid for securities transactions, and only a certain proportion of margin (20%) must be paid for spot electronic transactions.

2. The difference between spot trading and futures trading:

1. The objects of the transaction are different: spot is a standardized commodity; futures is a standardized contract, not a real commodity

< p>2. The forms of settlement are different: online electronic trading of goods adopts the form of combining random delivery and instant delivery: futures implements a form of forced delivery that must be carried out according to the time specified in the contract.

3. The risk of futures trading is much greater than that of spot online electronic trading

In short, spot online electronic trading is a new investment hotspot. It can be said that spot online electronic trading is the successor to securities , another investment hotspot after stocks, making stocks, futures investments, and speculators who are good at this naturally become the most suitable investors!

T+0 trading mode, you can buy up and down, trade continuously from 8 am on Monday to 6 am on Saturday, the market is continuous, you can buy and sell at any time, the trading profits and losses are open and transparent, and the risks are controllable. T+0 transactions can be settled multiple times on the same day, and profits can be locked in.

1. You can buy up or down, two-way trading, earn the price difference, not affected by the market, you can make money if there are fluctuations.

2. You only need to pay about 8% for spot trading, because what you buy is not a physical thing, that is, you can buy 100 yuan of silver for 8 yuan, and an increase of one yuan from 100 yuan is 10%. Profitable, so the income is very high.

3. Trading hours are flexible, basically 24 hours a day. If you don’t have time to read the market during the day, you can do it at night after get off work. Based on the advantages of spot goods, there are many people doing it, and the electronics industry is also the future development trend. Isn’t everything done online now?

Hedging

The so-called hedging is to buy a foreign currency at the same time and go short. In addition, another currency must be sold, that is, short selling. Theoretically, short buying of a currency and short selling of a currency must have the same denomination to be considered a true hedging order. Otherwise, the hedging function cannot be achieved if the sizes of the two sides are different.

The reason for this is that the world foreign exchange market uses US dollars as the unit of calculation. The rise and fall of all foreign currencies are relative to the US dollar. When the U.S. dollar is strong, foreign currencies are weak; when foreign currencies are strong, the U.S. dollar is weak. The rise and fall of the U.S. dollar affects the rise and fall of all foreign currencies. Therefore, if you are optimistic about a currency, but want to reduce risks, you need to sell a bearish currency at the same time. Buy a strong currency and sell a weak currency. If the estimate is correct and the US dollar is weak, the strong currency you buy will rise; even if the estimate is wrong and the US dollar is strong, the currency you buy will not fall too much.

The weak currency that has been shorted has fallen heavily, resulting in a small loss and a large profit. Overall, it is still profitable.

Refers to futures hedging

Stock index futures hedging refers to taking advantage of the unreasonable prices existing in the stock index futures market to participate in stock index futures and stock spot market transactions at the same time, or to conduct different maturities and different ( But similar), the act of trading stock index contracts to earn the price difference. Stock index futures arbitrage is divided into spot hedging, intertemporal hedging, cross-market hedging and cross-variety hedging

Commodity futures hedging

Similar to stock index futures hedging, commodity futures also have hedging strategies. While buying or selling a certain futures contract, sell or buy another related contract at the same time, and close both contracts at a certain time. In terms of transaction form, it is somewhat similar to hedging, but hedging involves buying (or selling) physical goods in the spot market and selling (or buying) futures contracts in the futures market; while arbitrage only occurs in the futures market. Buying and selling contracts in the futures market does not involve spot trading. There are four main types of commodity futures arbitrage: spot hedging, intertemporal hedging, cross-market arbitrage and cross-species arbitrage

Statistical hedging

Different from risk-free hedging, statistical hedging uses securities Arbitraging the historical statistical laws of prices is a kind of risk arbitrage, and the risk lies in whether this historical statistical law will continue to exist in the future. The main idea of ??statistical hedging is to first find the pairs of investment products (stocks or futures, etc.) with the best correlation, and then find the long-term equilibrium relationship (cointegration relationship) of each pair of investment products. When the price difference of a certain pair of products When the (residuals of the cointegration equation) deviate to a certain extent, start building a position - buy relatively undervalued varieties, short sell relatively overvalued varieties, and wait until the price difference returns to equilibrium to take profits. The main contents of statistical hedging include stock pairing transactions, stock index hedging, securities lending hedging and foreign exchange hedging transactions.

Gold T+D

T means the first letter of Trade (transaction), and D is the first letter of Delay (delay).

1. The trading mode of Shanghai Gold is T+D, which requires trading within a specified time and date. In the case of violent fluctuations in the international market, there will be a gap at the opening: spot gold is T+ 0 trading mode, timely trading, without any restrictions.

2. The leverage ratio of Shanghai gold is 1:5; the leverage ratio of spot gold is 1:100.

3. The minimum margin ratio of Shanghai gold is 20%, and the handling fee is The price is around 14/10,000, with slight differences among several banks. The daily price limit is 7%, and stop-loss cannot be set to effectively control risks; the margin for spot gold only requires 1%

4. The starting point for gold trading in Shanghai is 1,000 grams. According to the current price of gold, it is 230 yuan per gram. Even so, the minimum capital threshold reaches 46,000; you can start with $1,000 in spot gold.

Stocks

1. Stocks are regional markets, while gold is an international market

2. The daily trading volume of the gold market is much larger than that of stocks (30,000 100 million U.S. dollars; 15 billion yuan)

3. Stocks are easily manipulated by bookmakers or groups

4. From the perspective of trading hours, stocks are traded within 4 hours, while gold is traded 24 hours< /p>

5. From the perspective of trading rules, stocks can only be bought up, but gold can be bought up or down

6. Stocks have price limits (10% for A and B shares), and gold No

7. There is no leverage in stocks. The leverage of gold is 1:100, which is huge profit

8. In terms of varieties, there are more than a thousand stocks, so stock selection is troublesome. Gold products are single and relatively easy to analyze

9. Listed companies may be liquidated and disappear due to poor management; gold will always exist and has always been an important part of the international monetary system

10. Stocks require 100% capital investment, and gold requires 10% margin investment

11. Stocks require T+1; gold require T+0