1, there are few varieties of spot transactions and relatively few fundamental data, which can be consulted in the public media; There are a large number of stocks in the stock market, and the information of each stock needs to be studied, and it is also necessary to cooperate with the comprehensive index, which often leads to the situation of "making an index and losing money".
2. From the overall price fluctuation range, potatoes fluctuate from 10 to 30 points a day, and the spot price is closely related to the season; However, due to the different textures of individual stocks and investors' preferences, the stock prices in mature markets are only 0.0 1 yuan, ranging from several hundred yuan to even higher. Moreover, it is difficult to have a unified benchmark for measuring prices.
3. The transaction cost in the spot market is low, the cost of a transaction is about 1% of the transaction amount, and the spot profit is not subject to income tax for the time being; The transaction cost of the stock market is high, and the cost of a transaction is about 1% of the transaction amount.
4. the operation of the spot market can be traded in and out on the same day, that is, T+0 trading. If you find an operational error, you can immediately close your position and leave; The operation of the stock market is to buy on the same day and sell the next day, that is, T+ 1 transaction. Even if an operation error is found in the session, you can only watch the closing eagerly, but there is nothing you can do.
5. The transaction result in the spot market is a "zero-sum game" (except transaction costs). Judging from the loss of participants, regardless of the handling fee, half of the people in the spot market always make money and half lose money; The trading result of the stock market is "win-win and compensation", and the systemic risk of the stock market cannot be avoided at present.
6. Look at the fluctuation range of single-day price; The maximum spot is 5%; At present, the stock 10%, with the maturity of the market, the price limit of the stock will be lifted.
7. From the perspective of risk monitoring, the varieties traded in the spot market are mostly bulk agricultural products or industrial raw materials, which are related to the national economy and people's livelihood, and price fluctuations are monitored by the exchange, the China Securities Regulatory Commission and even the relevant ministries and commissions in the State Council; However, there are more than 2,000 listed companies, and the formation of stock prices is dominated by many factors. It is difficult to identify the reasonable fluctuation range of prices and implement effective supervision. The phenomenon of price manipulation in the market has been repeatedly banned.
8. From the perspective of pricing basis and price order, the commodity prices in the spot market are based on value and fluctuate with the relationship between supply and demand, with spot as a reference. Relatively speaking, the resources that both sides can control are infinite, and both sides are equal. Without the spot price, neither party dares to act recklessly, and the market operation is open and transparent. The daily transactions and positions are announced to the public, and there are few insider trading, which is difficult for large households to manipulate; ; However, the detailed information of the stock market operation is difficult to obtain, and there are many insider trading. Because the number of shares in circulation is relatively limited, the "banker" of the stock can secretly intervene in advance through his own information and financial advantages, collect most of the chips, and can relatively grasp the "pricing power" of the stock price. The status of the owner and the follower is seriously unequal, the price and value are often seriously out of touch, and the followers and latecomers are generally difficult to shake.
9. The spot market is an open market with many influencing factors and a wide demand for knowledge, while the stock market is relatively closed, so it is necessary to know more microeconomic entities in time.
10, the margin trading system in the spot market enables investors to "be small and broad", and as long as they operate properly, they can get high returns; However, if the operation is wrong, the loss will be greater, and additional margin will be needed when the funds are insufficient, so the spot market emphasizes fund management more; The stock market is a full margin transaction, and there is no danger of additional margin.
1 1. The operation of the spot market is a "two-way street", which can be bought first and then sold, or sold first and then bought; The operation of the stock market is a one-way street, and it can only be "buy first and then sell".
12, the operation of the spot market needs to pay attention to the time factor. The "life" of the existing spot contract is less than half a year, and it must be closed or delivered in kind at the expiration; If the stock market is not operated in time, it can be held for a long time unless the listed company goes bankrupt and liquidates.
13, the total position in the spot market is changing, capital inflows, and the total position is increasing; Capital outflow, the total number of positions decreased; The circulation share of a single stock in the stock market is fixed, but the total share will not change.
14. There are many trading methods in the spot market, such as simple trading, period arbitrage, cross-market arbitrage and cross-variety arbitrage. ; The stock market trading mode is single.
15, the research focus of spot market lies in the relationship between supply and demand of spot varieties, economic fluctuation cycle, government policies, seasonal factors and so on. The research focus of the stock market is the macroeconomic environment and the production and operation of individual stock enterprises.