knowledge about risks and their types.

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Quote from: Cryptoprincess101 on May 29, 2024, 01:00:22 PM

Quote from: Rruchi man on May 22, 2024, 05:36:05 PM

The fact that strategy and analysis are not done by one person does not mean that the chances of success are always higher. In fact, because they are done by many people, strategy formulation and analysis can even be more difficult and confusing, and simple decisions may take time to be debated and argued over by all the people involved in the decision-making process, so the process may not be as smooth and yield the expected result as when just one person is involved.

You are right because there are times when each one of them will prefer their own opinion to the other person's opinion and before you know it a lot of confusion arises and just like you said, something that would have been settled earlier will now take a lot of time to debate and deliberate which is better and it doesn't even mean that the one they presented as the best strategy will make them become more successful so sometimes it is better to make personal decisions knowing fully well that if anything happens you will bear the risk alone it will even make you to be more concerned about how your can present a good analysis so that you don't end up making the wrong decision.

I think it depends on the debate before we say that it is better. Before we present a strategy and say it is that it is the best, we need to try it on our own first, so that we will have a proof but if it's about trading, gambling, and others... the results might change for the other user. It is still our choice if we use someone else strategy or not, so we must only blame our selves if in case our decision is wrong.

Concern is always there no matter if you rely on your self or to others and no matter which side we choose, wrong decisions are still there as well that can occur sometimes or even most of the times, especially if we are hard to learn from our mistakes.

leonair

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Quote from: Gaza13 on May 29, 2024, 12:24:44 PM

Quote from: kotajikikox on May 22, 2024, 04:43:56 PM

If you are taking risks without knowing about it nor having learned it then you are definitely gambling. Gambling is just taking chances based on luck and nothing else. No logic whatsoever.

There’s no computations either so everything really is pure luck but once you start studying about risks and winning for it then that is when you can say that that is no longer taking it by chance and you have yourself to congratulate.

I think everyone who takes any risks must be aware of what they are deciding and know the impact in the future. I don't think it's advisable to take risks in gambling Many bad impacts have occurred in our environment. I think taking a risk has a much better or beneficial impact on us than gambling, for example taking a risk to invest. If you don't understand investment, we should learn about it first before jumping into it. If we understand the risks, then we can start deciding what assets we want to buy.

Gambling is a danger zone where once one is addicted he loses everything in his life. taking a risk doesn't mean you have to leave it to luck like gambling. Risk taking should be where you can lose but use your wits to make huge profits. Investing money somewhere is definitely risky but using your personal strategy to bring the desired profit from there is the real success. So you have to take risks to be successful. But not gambling

Dailyscript

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Quote from: eightdots on May 29, 2024, 12:49:42 PM

Quote from: Gaza13 on May 29, 2024, 12:24:44 PM

Quote from: kotajikikox on May 22, 2024, 04:43:56 PM

If you are taking risks without knowing about it nor having learned it then you are definitely gambling. Gambling is just taking chances based on luck and nothing else. No logic whatsoever.

There’s no computations either so everything really is pure luck but once you start studying about risks and winning for it then that is when you can say that that is no longer taking it by chance and you have yourself to congratulate.

I think everyone who takes any risks must be aware of what they are deciding and know the impact in the future. I don't think it's advisable to take risks in gambling Many bad impacts have occurred in our environment. I think taking a risk has a much better or beneficial impact on us than gambling, for example taking a risk to invest. If you don't understand investment, we should learn about it first before jumping into it. If we understand the risks, then we can start deciding what assets we want to buy.

Taking risks brings some consequences. Before taking risks, it is necessary to analyze the consequences that may arise and act according to this analysis. As you say, taking risks without knowledge is like gambling. Acting without knowing leads to moving forward without knowing where to go.

Before investing, we must learn the market and investment. We must think about all risks and plan ahead. Acting without planning can cause mistakes, especially when investing.

If we know what the risk is, it becomes easier for us to invest and we can more easily determine our move in the face of any situation.

Every risk has a consequence and if we are not aware about it then the pains that would come after taking such risk if we are not lucky is going to be unbearable. I have witness where an investor fell to zero, like he had no single money in his life and couldn't know where to start again. He became poor after tasting wealth.

The most important thing about knowing the risk involved is because we can look for a way to bypass everything. We will make sure we find a way to harness the situation by avoiding what will cause those risk.

Cryptoprincess101

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Quote from: Rruchi man on May 22, 2024, 05:36:05 PM

Quote from: Egii Nna on May 19, 2024, 10:53:35 AM

4 Compliance risk: There is a proverb that says a single tree cannot make a forest. This is what they really mean, which is that two or more people bring their ideas together in order to invest. That means all the strategy and analysis will not be done by a single person but by many people, which shows that it will be simpler and have a higher expectation of being successful.

The fact that strategy and analysis are not done by one person does not mean that the chances of success are always higher. In fact, because they are done by many people, strategy formulation and analysis can even be more difficult and confusing, and simple decisions may take time to be debated and argued over by all the people involved in the decision-making process, so the process may not be as smooth and yield the expected result as when just one person is involved.

You are right because there are times when each one of them will prefer their own opinion to the other person's opinion and before you know it a lot of confusion arises and just like you said, something that would have been settled earlier will now take a lot of time to debate and deliberate which is better and it doesn't even mean that the one they presented as the best strategy will make them become more successful so sometimes it is better to make personal decisions knowing fully well that if anything happens you will bear the risk alone it will even make you to be more concerned about how your can present a good analysis so that you don't end up making the wrong decision.

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Quote from: eightdots on May 29, 2024, 12:49:42 PM

Quote from: Gaza13 on May 29, 2024, 12:24:44 PM

Quote from: kotajikikox on May 22, 2024, 04:43:56 PM

If you are taking risks without knowing about it nor having learned it then you are definitely gambling. Gambling is just taking chances based on luck and nothing else. No logic whatsoever.

There’s no computations either so everything really is pure luck but once you start studying about risks and winning for it then that is when you can say that that is no longer taking it by chance and you have yourself to congratulate.

I think everyone who takes any risks must be aware of what they are deciding and know the impact in the future. I don't think it's advisable to take risks in gambling Many bad impacts have occurred in our environment. I think taking a risk has a much better or beneficial impact on us than gambling, for example taking a risk to invest. If you don't understand investment, we should learn about it first before jumping into it. If we understand the risks, then we can start deciding what assets we want to buy.

Taking risks brings some consequences. Before taking risks, it is necessary to analyze the consequences that may arise and act according to this analysis. As you say, taking risks without knowledge is like gambling. Acting without knowing leads to moving forward without knowing where to go.

Before investing, we must learn the market and investment. We must think about all risks and plan ahead. Acting without planning can cause mistakes, especially when investing.

If we know what the risk is, it becomes easier for us to invest and we can more easily determine our move in the face of any situation.

Its not really that something could be considered to be a consequences but rather it would really be that something a chance or probability that you would really be able to experience loses on which this is really that typical when you do hover yourself on investing which its part of the risks. This is why if you cant really be able to bare up with the risks then you could opt out anytime.
Doesnt matter on which type it would be on which it would really be that still on the same thing on when it comes to risks involved. It is really just that depending on how someone
will really be able to handle it out because if you dont like on losing money then dont risks.

Even just simply living your life and with the decisions accompanied with it will really be having that risks. So there's always a risks and making up some good decisions
will really be something that you would really be needing.

eightdots

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Quote from: Gaza13 on May 29, 2024, 12:24:44 PM

Quote from: kotajikikox on May 22, 2024, 04:43:56 PM

If you are taking risks without knowing about it nor having learned it then you are definitely gambling. Gambling is just taking chances based on luck and nothing else. No logic whatsoever.

There’s no computations either so everything really is pure luck but once you start studying about risks and winning for it then that is when you can say that that is no longer taking it by chance and you have yourself to congratulate.

I think everyone who takes any risks must be aware of what they are deciding and know the impact in the future. I don't think it's advisable to take risks in gambling Many bad impacts have occurred in our environment. I think taking a risk has a much better or beneficial impact on us than gambling, for example taking a risk to invest. If you don't understand investment, we should learn about it first before jumping into it. If we understand the risks, then we can start deciding what assets we want to buy.

Taking risks brings some consequences. Before taking risks, it is necessary to analyze the consequences that may arise and act according to this analysis. As you say, taking risks without knowledge is like gambling. Acting without knowing leads to moving forward without knowing where to go.

Before investing, we must learn the market and investment. We must think about all risks and plan ahead. Acting without planning can cause mistakes, especially when investing.

If we know what the risk is, it becomes easier for us to invest and we can more easily determine our move in the face of any situation.

slapper

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Strategic risk, for example. The hidden prejudices that cloud our minds matter more than the facts. Everyone has confirmation bias, where they only pay attention to information that supports their ideas. Imagine getting a half-baked hypothesis about Bitcoin travelling to the moon and seeing every spike as a sign from the universe. You're neglecting the market's three-legged stability

It's not simply money. Risky reputation? Some existential nonsense there. Everyone fears failure, especially when starting a new business or project. It's about losing face and self-worth, not simply money. Interestingly, the solution isn't to play it safe. Quite the contrary. Man, accept failure. I've failed at many things. All of them taught me something and helped me grow. This mindset adjustment is needed. Failing is a stage, not the end. You'll be miles ahead of the competition in today's cutthroat world if you can grasp that

CODE200

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Quote from: kentrolla on May 25, 2024, 01:02:48 PM

Useful piece of article as it clearly describes about types of risk in brief and there are people who consider these risk to an extend and some exaggerate these risk and end up being idle without taking any steps be it business or job hence apart from the definition we need to learn how to apply these risk in a calculated way in our daily life. People who don't buy even during the dip are real example of the statement which I am trying to convey.

Never thought of risk that way, I feel like if I've known about this a long time ago, I'd be in a better position in life right now but I can't complain, I'm doing fine anyway. I specifically like the part where you said that if we don't take steps about the risks or not taking them, it resonates heavily to me because I get it, if we just stand there paralyzed about what to do next, we're never going to see any changes to our lives or even improvements which should be the thing that everyone aim for in life.

Gaza13

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Quote from: kotajikikox on May 22, 2024, 04:43:56 PM

If you are taking risks without knowing about it nor having learned it then you are definitely gambling. Gambling is just taking chances based on luck and nothing else. No logic whatsoever.

There’s no computations either so everything really is pure luck but once you start studying about risks and winning for it then that is when you can say that that is no longer taking it by chance and you have yourself to congratulate.

I think everyone who takes any risks must be aware of what they are deciding and know the impact in the future. I don't think it's advisable to take risks in gambling Many bad impacts have occurred in our environment. I think taking a risk has a much better or beneficial impact on us than gambling, for example taking a risk to invest. If you don't understand investment, we should learn about it first before jumping into it. If we understand the risks, then we can start deciding what assets we want to buy.

JMBitcointernational

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Quote from: TEBTC on May 22, 2024, 04:39:20 AM

Knowledge about risk is very necessary as it put you on the advantage on the advent of emergency, risk is something we need not to play with because risk management is key both at home, in your office and in the industry

That is very true my dear mate, but the fact is that different people have different understanding of risk depending on the situation that they find themselves, that is to say that risk means different things to different individuals, some people will say that risk is a chance of loss, some will also say that risk is a combination of hazard, some others will also say that risk is the possibility of an unfavorable event occurring, and some people will also go further to say that risk occur when the future is occur and that everyone is a risk manager not by chance but by share necessity and so many other understanding of risk that people might apply.

In every of these definitions, there is one major thing that they are trying to portray which is loss and that we face risk every single day of our lives and that it is very pertinent that we understand the concept and have a proper knowledge about risk and know how to handle the circumstances when the time comes. just like the op have listed different types of risk, all these types of risk affect every sphere of our endeavor, however, it is of utmost importance to have a prior understanding and knowledge about risk before its occurrence because it is part of daily lives.

siniminomorocomunisakito

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Quote from: Egii Nna on May 19, 2024, 10:53:35 AM

3. Strategic risk: this is a type of risk that depends on your decision-making. Why I said so is that this is the level of risk that determines whether you will succeed or not because strategic risk depends on the strategy that you as an investor will use in order to gain or lose, which is sometimes related to financial risk because it also focuses on assessment, analysis, and the most important aspect, which is decision-making. So this type of risk deals with a lot of concentration; if not, you will always end up regretting it. Crypto trading is a type of risk that deals with higher concentrations, which is why it is classified as an example of strategic risk.

I like this point. This point reminds me of my trading journey which always ends less pleasantly. But, even so, this is also a lesson for me how valuable money is, especially if it is obtained with the results of hard and hard work.

We are well aware and must be more careful in trading activities because we come here not to burn our money in the blink of an eye.

iv4n

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Quote from: batang_bitcoin on May 22, 2024, 03:28:49 PM

I didn't know that there are classifications of it and described as how OP did it. To be honest, I don't think people that are taking risk didn't know that they are taking risks. They know for a fact that they do it and they don't mind taking it. In layman's term, it's a gamble of whatever you're taking. Whatever classification you have mentioned and if someone is taking a risk on it, the easiest logic to understand it without being confused is you are taking a gamble.

Well, I wasn't aware of this risk classification either, and I partly agree with this explanation. I think that risk is a risk. Financial, strategic, operational... one problem always leads to the other, so for me, it's all the same. One risky move (you can take a risk type from OP) can
be beneficial or can lead to losing a lot, it's like that whenever we decide to take some risk.

Instead of classifying risk, I would also focus on assessing the risk itself and what that risk can bring or take away. We can give any kind of
name to a risk we take, but it's still just a risk that has chances to give us what we want or take us down, so why to complicate it?

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Quote from: TheUltraElite on May 28, 2024, 09:46:05 AM

Life is full of different types of risk, but we are taking them and living our lives healthy and happily. This proves one thing, that the human willpower to take the risk and to follow it through has not bounds and hence we must be careful about weighing out the risks we are taken and attempt to minimize those that are not necessary.

We cant eliminate all of them but we have this risk/benefit ratio thing that can help us judge what would be a more beneficial risk as compared to less beneficial risk.

It is a theoretical concept but we apply this everyday without knowing.

Everything we do in terms of work definitely has its own risks, but if some of the risks we face don't give us any benefits and are more dangerous for us then there's no harm in avoiding them, so there are things we need to consider in determining targets according to our goals. we want to do and we don't have to fulfill everything if it is more dangerous for us, so we still have to consider every risk even if there are things that are tempting.

TheUltraElite

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So anyway, I applied as a merit source :)

Life is full of different types of risk, but we are taking them and living our lives healthy and happily. This proves one thing, that the human willpower to take the risk and to follow it through has not bounds and hence we must be careful about weighing out the risks we are taken and attempt to minimize those that are not necessary.

We cant eliminate all of them but we have this risk/benefit ratio thing that can help us judge what would be a more beneficial risk as compared to less beneficial risk.

It is a theoretical concept but we apply this everyday without knowing.

mindrust

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Life is all about risk management. Every decision you make has risks. It might sound funny but when you leave your home and go to a grocery store, you are taking many risks. If you take the car, you can have a car accident. If you walk, a car may run you over. You might get poisoned from something you ate at a restaurant. You may get robbed. Lots of crazy shit happen to people every day and you don't see or hear most of them. At this very moment thousands of people are getting fucked in ways you can't even imagine.

So, when it comes to making investments, you have to think over all of those potential risks. Obviously you can't calculate everything and there will always be a disaster at the next corner waiting to happen which you didn't think it could happen. A successful business person usually thinks more and takes more precautions than an average Joe. That's what makes him a successful person because he has those abilities which the majority of people lack.

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Quote from: kentrolla on May 25, 2024, 01:02:48 PM

Useful piece of article as it clearly describes about types of risk in brief and there are people who consider these risk to an extend and some exaggerate these risk and end up being idle without taking any steps be it business or job hence apart from the definition we need to learn how to apply these risk in a calculated way in our daily life. People who don't buy even during the dip are real example of the statement which I am trying to convey.

Having an understanding of risk is of course very important and for those who are lazy in facing risks due to a lack of knowledge about risk management, of course they will not be able to develop better than they are now, so it is important for us to be able to have a good understanding of risk management in order to be able to manage risks. that they will face either in their business or work.

topbitcoin

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Quote from: Cryptomultiplier on May 24, 2024, 02:12:02 AM

Quote from: iBaba on May 23, 2024, 04:49:51 PM

Quote from: peter0425 on May 22, 2024, 05:28:16 AM

Thanks for this very informative post!

I agree that many people do not actually know what entails a risk. This results to them encountering huge losses than they would have if they had just learned about risks. In every investment, there’s always a risk associated and to say that all investments would guarantee you a 100% return is crazy. Yes it might be possible but only if you properly manage the risks that will come your way.

I have come to the realization for a long time about the importance of studying risks in any business so as to prevent loses from the business. No matter how much you claim to understand the intricacies of business, if you don't focus on learning the associated risks and skills towards curtailing such risks, you will have difficult time trying to achieve a successful business career.

Most people are always interested in the results without dedicating enough time to the process. Rather they are more interested in the ambitious business targets they house in their brains.

Not only in business is the knowledge of risk helpful, but it is also helpful in making life decisions and an investor who has understood the risk of the venture they intend to undertake, has already become 70% sure to get success.
Risk management courses and seminars also is a good idea for those who don't understand or need better insight in their field. It's just like having to attend and gain certification in HSE safety courses for those who work in the oil and gas or in sectors where the hazard and risk level is high.

Knowing the risk level involved is one step to achieving success.

I concur completely. The awareness of risk holds a profound significance, not just within the realms of business but also in our day-to-day choices. Delving into the essence of risk equips us with the capability to tread wisely and on an informed basis; it, in turn, heightens our probability for success. Moreover, an investor who acquaints themselves with the study and comprehension of risks relating to their considered venture gains an enormous edge.

To take courses in risk management is very useful, particularly for those individuals who have recently started their careers or are interested in broadening their knowledge. The course provides not only a picture of what the risk entails but also an overview of how to evaluate and then mitigate it: understanding and controlling the risk is a milestone on the way to success; it's not just about preventing failure, but also about maximizing possibilities for further successful activity. With this information in mind, a person can make better decisions, not only be ready to face challenges but also be proactive.

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Quote from: batang_bitcoin on May 22, 2024, 03:28:49 PM

I didn't know that there are classifications of it and described as how OP did it. To be honest, I don't think people that are taking risk didn't know that they are taking risks. They know for a fact that they do it and they don't mind taking it. In layman's term, it's a gamble of whatever you're taking. Whatever classification you have mentioned and if someone is taking a risk on it, the easiest logic to understand it without being confused is you are taking a gamble.

It is true that this is a very simple understanding and in this life there are many factors and risks in making a decision that cannot be separated from a reason and we have to choose, and for beginners the risk of gambling cannot be understood in greater detail and increases the risk of large losses because lack of insight and the strategy implemented is not good in terms of readiness, that is the main factor.

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Quote from: Egii Nna on May 19, 2024, 10:53:35 AM

TYPE OF RISK

1. Financial risks
2. Operational risk
3. Strategic risk
4. Compliance risk
5. Reputational risk

Life is a risk as many would say, getting to know the risk that is associated with what ever we are doing is very important. In my opinion, financial risk is a very important knowledge that everyone must have. We all need money to survive and money can be made through different means, if you are not knowledgeable about financial risk, you might end up to even lose some money. Take for example, those people that invest in things they don't have knowledge about, they can lose their money. If you invest in an asset because you saw someone investing there, that isn't being too smart, being smarter is when you know the risk of that investment before you invest.

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Quote from: TEBTC on May 22, 2024, 04:39:20 AM

Knowledge about risk is very necessary as it put you on the advantage on the advent of emergency, risk is something we need not to play with because risk management is key both at home, in your office and in the industry

Yeah and without the proper knowledge to manage those risks will end our career so badly so it really is a mist to acquire enough knowledge before jumping into something that pose risks because if you are going into a war without a weapon and defenses then it's a suicide same as what OP is trying to tell us.

Topic: knowledge about risks and their types. (Read 429 times)