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Minimizing trading risk through proactive threat and error management
Fri, Apr 17 2009, 14:30 GMT
by The Trader's Journal Collaborators
This article is taken from the Trader's Journal magazine (February 2009 issue)
The author, Lance Beggs, is a full time day-trader with a current preference for Forex and equity indices. His style of trading is discretionary, operating in the direction of short-term sentiment within a framework of support and resistance.
- As an ex-military helicopter pilot, I was taught to operate effectively within an environment of risk. Failure to appreciate risk within the aviation environment, whether civil or military, can potentially lead to dire consequences – injury or loss of life, damage to or loss of aircraft or other equipment, mission failure and almost irreparable damage to public image or unit morale.
The risk in trading is different, but the consequences of trading failure are no less severe. Not only are you are placing your money on the line, you are doing so in an even more difficult environment, where uncertainty prevails and what worked yesterday may not work so well today.
_________
Other article in this issue:
Published on Fri, Apr 17 2009, 14:41 GMT
DPR International Pte Ltd
| One Raffles Place, OUB Centre #18-01, Singapore 048616
http://www.tradersjournal.com | editor@traders-journal.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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