贵金属投资技术分析英文版最新完整版本.pptVIP

ProspectiveInvestor@PakistanMercantileExchangeLimitedDecember2006

ContentsWelcomeRisksinTradingFuturesIntroductiontoFuturesPMEXHighlightsPMEXBusinessModelHowtoTradeatPMEXInvestorSafeguardsDemo

RisksinTradingFutures

ShouldYouTradeCommodityFutures?Tradingcommodityfuturesisnotforeveryone.Itcanbeavolatileandriskybusiness.Beforeyouinvestanymoneyinfuturescontracts,youshould:Consideryourfinancialexperience,goals,andfinancialresourcesUnderstandcommodityfuturescontractsandyourobligationsbeforeenteringthemarketBeawarethatyoucanlosemorethanyourinitialinvestmentOnlytakeriskfortheamountthatyoucanaffordtoloseUnderstandyourexposuretoriskandotheraspectsoftradingbythoroughlyreviewingtheriskdisclosuredocumentsyourbrokerisrequiredtoprovideyou

CanIloseMoneyTradingFutures?Yes,ifyouarerecklessLaxcontrols,poorcorporategovernance,overconfidence,hopingtorecoverthroughtakinganevenbiggerposition,etc.ButitisnotRocketScienceProperUnderstandingandRespectofRiskcanensurelossesarecontainedandgainsarepreserved

IntroductiontoDerivatives

WhoParticipatesinFuturesMarkets?Meetstheneedsofthreegroups:Thosewhowishtodiscoverinformationaboutfuturepricesofcommodities(supplierssuchasfarmers)-NaturalLongsUsersintermediaries–NaturalShortsThosewhowishtoinvest(investors)andhaveaview–extremelyimportantastheyprovideliquidityanddepthtothemarketInvestorsareessentialforthemarket

FuturesPerspectivesGains(Losses)forlongsareoffsetbyequallosses(gains)forshortsCounterpartiesinFuturesareinvolvedinazerosumgame-foreverywinnerthereisanoffsettingloserFuturesexchangescounterexcessivespeculationandconcentrationthroughpositionlimitsClearinghouserunsaperfectlymatchedbookanddoesnottakepositionsinthemarketAcommonfallacy-highmarginmitigatesrisk

WhatareDeriva