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B e w a r e : R i s k s o f O n l i n e C u r r e n c y T r a d i n g
from:R i s k i s t h e p o s s i b i l i t y o f d a n g e r , i n j u r y o r l o s s . I n o n e s l i f e , t h e r e c o m e s a t i m e t h a t a n i n d i v i d u a l p l a y a g a i n s t d i f f e r e n t k i n d s o f r i s k s . P e o p l e w h o f a c e r i s k s v e n t u r e i n t o h a v i n g i t a l l o r e n d i n g u p w i t h n o t h i n g .
I t i s l i k e i n c u r r e n c y t r a d i n g , m o s t t r a d e r s r i s k a g o o d s u m o f m o n e y w h e n e v e r t h e y a r e f a c e d i n a n u n e v e n t f u l c i r c u m s t a n c e . Y e t , a p p a l l i n g s i t u a t i o n s c a n b e a v o i d e d i f y o u a r e k n o w l e d g e a b l e o f t h e p o s s i b l e d a n g e r s w h i c h c u r r e n c y t r a d i n g m a y b r i n g u p o n .
M o n e t a r y R i s k
T r a d i n g i s a b u s i n e s s . I t e n t a i l s c a p i t a l ; h e n c e y o u n e e d t o d o l e o u t a c e r t a i n a m o u n t o f m o n e y t o d o b u s i n e s s . O f t e n t i m e s a h u g e a m o u n t o f m o n e y i s b e i n g c a p i t a l i z e d i n c u r r e n c y t r a d i n g .
I f y o u a r e s e r i o u s w i t h o n l i n e c u r r e n c y t r a d i n g , i t i s b e s t t o s t a r t w i t h a f i n a n c i a l p l a n s o y o u w i l l n o t g e t c a u g h t u p w i t h l o s i n g t h e m o n e y y o u h a v e w o r k e d h a r d . Y o u r f i n a n c i a l p l a n s h o u l d d e t a i l t h e a m o u n t o f c a p i t a l y o u a r e w i l l i n g t o g i v e a w a y . I t s h o u l d a l s o c o n s i s t o f t h e p o s s i b l e a m o u n t o f m o n e y y o u c a n a f f o r d t o l o s e . A d d i t i o n a l l y , y o u r f i n a n c i a l p l a n s h o u l d a l s o i n v o l v e s t r a t e g i e s t o o v e r c o m e l o s s e s .
Y o u m a y a l s o w a n t t o h i r e a b r o k e r o r a m o n e y m a n a g e r s o t h a t y o u r f i n a n c e s w i l l b e p r o p e r l y m a n a g e d .
S e c u r i t y R i s k
I t i s o n l i n e . Y o u a r e i n a n o n l i n e c u r r e n c y t r a d i n g m a r k e t . D e p e n d i n g o n t h e t y p e o f s o f t w a r e y o u a r e u s i n g , t h e r e i s a h i g h c h a n c e t h a t y o u r t r a d i n g i n f o r m a t i o n c a n b e h a c k e d o n l i n e .
O n c e y o u r t r a d i n g i n f o r m a t i o n h a s b e e n s t o l e n , y o u a r e m o s t l i k e l y t o s u f f e r s i n c e t h e d o w n f a l l o r s u c c e s s o f y o u r t r a d i n g c a r e e r d e p e n d s o n t h e s t r a t e g i e s a n d p l a n s y o u d e v i s e d p l u s t h e r e s e a r c h e s y o u h a v e m a d e . Y o u a r e i n g r e a t d a n g e r i f p e r t i n e n t i n f o r m a t i o n i s s t o r e d i n y o u r s y s t e m a n d i t h a s b e e n h a c k e d . A p a r t f r o m i n f o r m a t i o n b e i n g u n s e c u r e d , y o u r p r o f i l e w i l l a l s o b e p u t i n j e o p a r d y .
T o s e c u r e y o u r c u r r e n c y t r a d i n g a s w e l l a s y o u r p r o f i l e , i t i s a d v i s e d t h a t y o u u t i l i z e s o f t w a r e t h a t c a n g i v e y o u a p t s a f e t y m e a s u r e s .
P s y c h o l o g i c a l R i s k
W i t h o n l i n e c u r r e n c y t r a d i n g , y o u a r e m o s t l i k e l y t o m e e t d i f f e r e n t k i n d s o f p e o p l e . T h e r e w i l l b e i n d i v i d u a l s w h o m a y b e f r i e n d y o u y e t t h e y h a v e t h e s e h i d d e n a n d h a r m f u l i n t e n t i o n s .
O n c e y o u f e l l i n t o b e f r i e n d i n g i n d i v i d u a l s t r a p a n d g o t i n t o a d r e a r y s i t u a t i o n s u c h a s l o s i n g y o u r m o n e y , i t i s m o s t l i k e l y t h a t y o u w i l l c a s t b l a m e t o o t h e r s f o r t h e c a t a s t r o p h e y o u h a v e e n c o u n t e r e d . E v e r y t h i n g b o i l s d o w n t o y o u y o u a r e a c c o u n t a b l e f o r e v e r y a c t i o n y o u m a k e .
S i n c e t r a d i n g i s a n u n c e r t a i n i n d u s t r y , i t i s b e s t t o b e m e n t a l l y a n d e m o t i o n a l l y p r e p a r e d . A v o i d g e t t i n g i n t o s i t u a t i o n s w h e r e i n y o u w i l l b e i n d e c i s i v e a n d e n d u p t r a d i n g f o r n o t h i n g .
M o s t i m p o r t a n t l y t o s t a y a w a y f r o m p s y c h o l o g i c a l r i s k s , i t i s r e c o m m e n d e d t h a t y o u k n o w h o w t o p r o p e r l y m a n a g e s t r e s s . I t i s b e l i e v e d t h a t t r a d i n g i s o n e o f t h e m o s t s t r e s s f u l a c t i v i t i e s o n e c a n b e i n .
O n l i n e c u r r e n c y t r a d i n g i t m a y b e a p r o f i t a b l e i n d u s t r y f o r s o m e . T o o t h e r s i t m a y b e f u n a n d d i v e r t s t h e i r a t t e n t i o n t o s o m e t h i n g e l s e a p a r t f r o m e a r n i n g . W h a t e v e r a c c o m p l i s h m e n t i t c a n d o t o a t r a d e r , w h a t y o u n e e d t o r e c o g n i z e i s t h e p o t e n t i a l r i s k i t m a y b r i n g t o y o u .
N o t h i n g b e a t s a w a r e n e s s a n d p r e p a r e d n e s s t o s o m e t h i n g y o u a r e r e a d y t o t a k e p a r t i n t o . W i t h f u l l g r a s p o n r i s k s p o s e d b y o n l i n e c u r r e n c y t r a d i n g , y o u a r e m o s t l i k e l y t o d o s o m e t h i n g a b o u t i t a n d t u r n i t i n t o s o m e t h i n g c o n s t r u c t i v e .
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David Moon: Keep JP Morgan trading loss in perspective Knoxville News Sentinel By David Moon It's hard to believe, but JP Morgan's $2 billion loss on a trading hedge isn't a massive amount of money — at least to JP Morgan. In absolute terms the number has shock value, but in perspective, the relative size of the loss is less ... |
Lessons From Trades Big and Bad - New York Times
 Telegraph.co.uk | Lessons From Trades Big and Bad New York Times What happened then was that so many people put on the trade that even the large and liquid market in Treasury securities was strained. The divergence grew larger. If you could be sure the yields would eventually converge, the obvious course was to ... The Hubris of Jamie Dimon Dimon Shows No Retreat: Bloomberg Businessweek Opening Remarks JPMorgan trading loss could hit $5-billion, report warns |
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The Traders Course with Greg Michalowski at 4 PM ET today. Topic: Trading the ... ForexLive (blog) By Greg Michalowski || May 15, 2012 at 19:27 GMT 4 Responses to “The Traders Course with Greg Michalowski at 4 PM ET today. Topic: Trading the Trend.” The sellers are in control still. A move above the 1.2775 (broken trendline on the daily chart today) ... |
Wonkbook: Of course Boehner wants another debt-ceiling showdown - Washington Post (blog)
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