سلب مسئولیت: CFD ها ابزارهای پیچیده ای هستند و با ریسک بالایی در از دست دادن سریع پول به دلیل اهرم همراه هستند.
باید در نظر بگیرید که آیا می دانید CFD ها چگونه کار می کنند و آیا می توانید ریسک بالای از دست دادن پول خود را بپذیرید یا خیر.
وب معامله گر MT5
C
Capitulation
When investors who have been holding through a gut-wrenching decline finally relent and sell. That’s the crash. The weary, disheartened wave which usually comes at the end, when hope has been put to the test many times over. It is identifiable by a spike in market volume, extreme sentiment readings, and a bleakness in market commentary.
Capitulation is important because it tends to identify, or at least estimate, the low. The rationale: after all, the weakest hands are flushed out, leaving fewer sellers. Supply dries up. Having less overhead pressure, even a modest new purchase, can turn the price. Markets descend to the point where everyone who wanted to sell has sold.
The issue with capitalization is that it is only discernible with certainty in retrospect. At the moment, the last wave of selling appears to be the same as any other bad day. A good number of traders try to buy the capitulation a week beforehand, only to get overrun by the real one.
Example: A classic capitulation happened in November 2022 following the downfall of FTX in the crypto markets. Bitcoin was trading below $16,000, with volumes many times those seen in previous sell-offs. Crypto-based funds were undergoing liquidation. Retail investors flooded the forums with the claim that they were done. The price began a multi-month decline at that time and recovered in early 2023. The day which was the ugliest was near the bottom.
Carbon Credits
Tradeable certificates that give the owner the right to emit one metric tonne of carbon dioxide or its equivalent in other greenhouse gases. They are the currency of emissions trading systems (ETS), which set caps on emissions from covered sectors and allow companies to trade allowances within those caps. Companies which emit less than their allowance can sell their excess credits. If it goes over its allowance, it has to buy credits or pay penalties.
The EU Emissions Trading System (EU ETS) is the world’s biggest carbon market. EU carbon credit prices have climbed over the years on the back of tighter supply caps, increased policy commitments and energy-sector demand. At those prices, carbon is a material cost for heavy industry, such as steel, cement, aviation, power generation and a meaningful driver of investment decisions.
Voluntary carbon markets are independent from compliance regimes and allow companies to offset emissions. There are enormous differences in quality and reliability.
Example: A German cement maker facing a €50m carbon bill can curb its emissions by investing in cleaner kilns, buying EU allowances on the open market, or a mix of the two. The economics of capital investment are attractive at € 80/tonne. The carbon price is doing its job, making pollution sufficiently costly to change behavior.
Cardano (ADA)
A proof-of-stake blockchain platform and its native cryptocurrency, ADA. Cardano was co-founded by Charles Hoskinson, one of the original co-founders of Ethereum, and is developed by the research-driven organisation IOHK. What makes Cardano unique is that it employs an academic methodology; protocol changes are subject to peer-reviewed research before being put into place, which is an unusually rigorous standard for the cryptocurrency industry.
Cardano employs a proof-of-stake consensus protocol known as Ouroboros, which is far more energy-efficient than Bitcoin’s proof-of-work. ADA is a yield-bearing asset in its own ecosystem, as ADA holders can delegate their coins to stake pools and earn rewards. The platform supports smart contracts, decentralized applications and native token issuance, making it a direct competitor to Ethereum and Solana for developer attention.
ADA has consistently ranked within the top ten cryptocurrencies by market capitalisation, but has faced criticism for slow ecosystem development relative to the ambition of its technical roadmap.
Example: ADA reached an all-time high of around $3.10 in September 2021 during the broader crypto bull market, then crashed more than 90% to below $0.25 in the 2022 bear market. Like most altcoins, it had extreme beta to Bitcoin’s price and its own project-specific narrative risk. Those investors who divorced the technology thesis from the price action did better analytically, if not always financially.
Carry Trade
A carry trade is a strategy where an investor borrows a lower-yielding currency to buy a higher-yielding one, profiting from the interest rate gap.
Cash market
The market upon which financial instruments or commodities are bought and sold so that the exchange occurs immediately, as opposed to the futures or options markets, where the exchange occurs at a later date. It is also known as the spot market. When you purchase 100 shares of a company with your brokerage today, you are actually trading in the cash market. The settlement is usually in two business days (or T + 2 in most markets).
The difference between cash and derivatives markets is important to pricing. The cash price plus the cost of carry (financing, storage, dividends, convenience yield, depending on the asset) is typical of futures prices. In a futures market where futures trade at a discount to cash, the market is in backwardation. When they are selling at a premium, it is contango. The anchor is the cash price; the futures price is the cash price with some adjustments.
In the case of physical commodities, the cash market is one where actual grain, oil, or metal is exchanged. The derivatives market is largely financial; hedgers and speculators put money into the market without necessarily having a tanker of crude in their driveway.
Example: A jeweler in Mumbai who requires gold today buys it in the spot market on the Multi-Commodity Exchange and takes delivery to use immediately. When a speculator believes that gold will increase in three months, he purchases a futures contract on the same exchange, with no plan to ever receive physical delivery. Same underlying and same exchange; very different markets and motives.
Catalyst
A news item or event that causes a large movement in the price. The catalyst is the spark. The fuel is the positioning and sentiment that were already in place before it arrived. You can take away the positioning, and the same catalyst is barely registering.
Markets spend most of their time grinding slowly. Catalysts are the moments that break the equilibrium, such as earnings reports, central bank decisions, geopolitical shocks, regulatory changes, and product launches. A catalyst is differentiated from noise by the extent to which it alters the market’s expected value of the asset.
Professional traders pay as much attention to the setup around a catalyst as they do to the catalyst itself. A heavily shorted stock that reports strong earnings can trigger a violent short-covering rally. Earnings on a stock priced for perfection can also cause a “sell the news” drop. Same catalyst. Opposite outcome. “The positioning was different.
Often moves are made on anticipated catalysts before the event, the buy the rumor, sell the news pattern. Unforeseen catalysts leave voids with no time to react.
Example: A pharmaceutical company announced today that a drug treating a condition for which there is no existing treatment has shown positive late-stage trial results. The stock has been in a trading range for months due to uncertainty. The data is the catalyst for the re-rating. Institutional buyers have been on the sidelines and then come in at once, and the share price shoots up dramatically in one session.
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