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Choose wisely Dr. Jones, choose wisely
Tue, Nov 11 2008, 15:56 GMT
by Forex Journal's Collaborators
This article is taken from the Forex Journal (July 2008 issue)
The author, Richard Morrish, is Head of M I G’s Research Department. He has been a trader for the last 23 years for international banks, hedge funds and himself. A regular contributor to CNBC for the last five years, Richard has also lectured on global macro hedge fund strategy and technical analysis. He has traded all asset classes from Forex to bonds to commodities. He is regarded as one of the leading technical trading proponents in the United Kingdom and one of the most accurate predictors of the markets.
- Richard Morrish discusses the benefits of ‘choosing wisely’ when using leverage as a trading tool. Leverage is a doubleedged sword that can create impressive gains very quickly or devastating losses in the same short time.
Walter Donovan: “We’re only one step away.” Indiana Jones: “That’s usually when the ground falls out from beneath your feet.”
Lines taken from “Indiana Jones and the Last Crusade” (1989)
I doubt that Indiana Jones had much time for trading the financial markets. Those of us that do trade are driven to do so by the hope of discovering potential treasure, lured by the lustre of some financial ‘Holy Grail.’ Although the risks that we face in trading may not be quite as apparent as a room full of poisonous snakes or the odd Angel of Death encountered by Dr. Jones and his friends, we must be aware of the choices we make and the risk that each choice entails. We must look to “Choose Wisely.”
_____________
Other article in this issue:
Important Things to know about your Currencies
Published on Tue, Nov 11 2008, 16:59 GMT
DPR International Pte Ltd
| One Raffles Place, OUB Centre #18-01, Singapore 048616
http://www.forexjournal.com/ | editor@forexjournal.com
Legal disclaimer and risk disclosure
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the authors and the publisher are not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. In commodity trading, as in stock, and mutual fund trading, there can be no assurance of profit. Losses can and do occur. As with any investment, you should carefully consider your suitability to trade and your ability to bear the financial risk of losing your entire investment. It should not be assured that the methods, techniques, or indicators presented in this magazine will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples in this magazine are for educational purposes only. This is not a solicitation for any order to buy and sell. The information contained herein has been obtained from sources believed to be reliable, but cannot be guaranteed as to accuracy of completeness, and is subject to change without notice. The risk of using any trading method rests with the user.Related reports
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