How to do derivative trading?

Could you please explain in detail what derivative trading is and how it works? I'm particularly interested in understanding the types of derivatives that are commonly traded, as well as the strategies that traders employ to maximize their profits. Additionally, could you also discuss the risks involved in derivative trading and how to manage them effectively? I'm keen on learning about the necessary steps to get started in derivative trading, including the platforms or exchanges that offer such services. Furthermore, I'm curious about the regulations and compliance requirements that traders need to adhere to when engaging in derivative trading. Thank you for your assistance in clarifying these aspects.