면책 고지: CFD는 복잡한 금융상품으로, 레버리지로 인해 빠르게 손실이 발생할 수 있는 높은 위험을 수반합니다.
CFD의 작동 방식을 이해하고 있는지, 그리고 자금 손실의 높은 위험을 감당할 수 있는지 신중히 고려하시기 바랍니다.
Web Trader MT5
전부
Hedge fund
An advanced, private investment fund managed by professionals for wealthy investors, aiming to profit in any market condition, typically with a minimum one-year holding period.
Hedge ratio
A hedge ratio measures risk exposure in a position, with 0% indicating an unhedged position and a ratio between 1-100% representing a hedged one, calculated as:
Hedge Ratio = Value of the Hedge Position / Value of the Total Exposure
Hedging
Taking a position in a financial instrument to offset the risk of an adverse price move in an existing exposure. A hedge will limit potential losses at the expense of limiting potential gains. It is not speculation, it is insurance. The aim is to bring the range of possible outcomes to a minimum, not to maximise profit.
Common instruments are options (whereby an agreement caps any losses and keeps any gains but incurs higher premiums), forwards and futures (whereby an agreement guarantees a price, without any optionality attached), swaps, and inverse ETFs. Theoretical hedges are perfect hedges: in practice, the difference between the hedge and the underlying is known as basis risk, and this risk will be reduced, but not completely eliminated, in most cases.
The art of the discipline is choosing the right hedge, the right size and the right correlation.
Example: An airline with high jet fuel expenses for the next year signs on to crude oil futures to guarantee the price of the crude oil. When oil prices surge, the increase in fuel prices is balanced by the futures price increase. If oil goes down, the airline pays more than the spot price would have, but the price was the cost of certainty for a business that cannot afford a 40% overnight fuel cost increase.
Heikin-Ashi
A charting method that alters the traditional candlestick calculations to produce a smoother and more visually readable price action by averaging data over sessions. Heikin Ashi candles differ from regular candlesticks in that the open, high, low and close for each Heikin Ashi candle are calculated from the data of both the current and previous sessions.
The result is a noise-filtered trend that visually makes it obvious when a trend is up (consecutive bullish candles with minimal lower wicks) or down (consecutive bearish candles with minimal upper wicks). It’s just as easy to identify consolidation periods, when colors change and bodies contract.
The trade-off: Heikin-Ashi prices are averages, not real market prices. Traders can’t use them for entry or stop placement actual price levels have to be cross-referenced against the raw candlestick chart.
Example: A trend following trader uses Heikin Ashi charts to identify which markets are in clean persistent trends and which are in choppy consolidation. A commodity displaying twelve consecutive bullish Heikin Ashi candles with no lower wicks is identified as a high-quality trend candidate. Heikin Ashi gives the trend diagnosis and the raw price data gives the trade mechanics. Entry and stop levels are taken from the standard candlestick chart.
High-frequency trading (HFT)
A type of trading that uses powerful computers and algorithms to execute trades at very high speeds, often in milliseconds or less.
High-Quality Liquid Assets (HQLA)
Assets accepted by banks to meet the Basel III Liquidity Coverage Ratio (LCR) that are readily convertible to cash with little or no loss of value. The LCR requires banks to have sufficient HQLA to withstand a 30-day period of significant liquidity stress enabling each major bank to meet its funding needs in a 30-day funding crisis without central bank support.
HQLAs are tiered. Level 1 assets which are reserves of central banks, sovereign bonds with zero or low risk weight are valued at the full value. Level 2A and 2B assets are subject to haircuts and constitute a small proportion of the overall buffer.
The LCR has a direct impact on the composition of bank balance sheets, whereby banks are incentivized to hold higher proportions of government securities than less liquid assets.
Example: To meet the LCR, a bank builds its HQLA buffer by purchasing domestic government bonds and depositing excess cash as reserves at the central bank, both of which are classified as Level 1 HQLA with zero haircut. Regardless of the quality of credit, corporate loans have no HQLA value. The requirement has a direct impact on the asset allocation of the bank, making it a structural marginal buyer of sovereign debt.
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