I have made up the sentences below.
(1) I want to exchange my colorful postage stamp with you for your diamond-shaped one.
(2) I want to trade my colorful postage stamp with you for your diamond-shaped one.
Most of my non-native English speaking friends think I'm using the two verbs correctly. However, a few of my other friends think disagree with them.
What is your opinion? Thank you very much.
They both sound OK to me.
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You could also say
eg I want to swap my colorful postage stamp for your diamond-shaped one.