Physical 

Physical trading refers to the buying and selling of tangible goods and commodities. This form of trading has been around for thousands of years and is a crucial part of the global economy. Physical traders buy goods and commodities in one market and sell them in another, taking advantage of price differences to make a profit. Physical trading can involve a wide range of goods, from agricultural products and raw materials to finished products such as electronics and clothing.

Pros of Physical Trading:

1. Tangible Assets: Physical goods have a tangible value that is independent of market conditions. This provides a level of stability and security that is not found in other forms of trading.

2. Direct Access to Markets: Physical traders have direct access to markets, which allows them to gather information about demand, supply, and price trends. This information can be used to make informed trading decisions.

3. Ability to Store Value: Physical goods can be stored and held as an investment, providing a means of storing value for the long-term.

4. High Liquidity: Physical goods are highly liquid, meaning they can be easily bought and sold in large quantities. This makes it easier to get in and out of trades, reducing the risk of losses.

Cons of Physical Trading:

1. Transportation Costs: Physical goods need to be transported from one market to another, which can be expensive and time-consuming.

2. Market Risk: The price of physical goods can be influenced by a wide range of factors, including changes in supply and demand, natural disasters, and geopolitical events. These risks can lead to significant losses for physical traders.

3. Physical Costs: Physical goods often require storage and maintenance, which can be costly.

4. Lack of Flexibility: Physical goods can be difficult to sell quickly, especially in a down market. This lack of flexibility can limit traders' ability to take advantage of short-term price movements.

In conclusion, physical trading offers the stability and security of tangible assets, as well as the ability to store value for the long-term. However, it also involves significant costs and risks, including transportation costs, market risk, and physical costs. As with any form of trading, it's important to educate yourself on the market and to have a well-defined trading strategy to help mitigate potential losses. Additionally, it's important to never invest more than you can afford to lose.