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RISKS Levered investments such as currency spot forex positions can be highly volatile. Price movements of currencies are influenced by a variety of external factors including government, trade, fiscal, monetary and exchange control programs and policies. News reports on such factors may have unexpected and sudden impacts on open trading positions. Informal arrangements and rules determine who is authorised to participate in the market, how local banks can trade with one another, and the type of transactions which can be conducted. The imposition or relaxation of exchange controls in various jurisdictions could have a sudden impact on trading performance. Because low margin deposits are normally required in connection with trading in spot forex, a high degree of leverage may be obtained in such trading. Therefore, a relatively small movement in price may result in immediate disproportionate profits or losses. Accounts managed by PAC will have certain fees and expenses regardless of its profitability. Therefore, such accounts will need sufficient trading gains to cover such fees and expenses before an overall profit for the year can be achieved. The results shown in PAC's performance tables are NET of all Management and Incentive Fees charged by PAC. |
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RISK MANAGEMENT PAC seeks to obtain a high rate of return while minimizing risk. If equity performance moves too far too fast, market exposure may be curtailed in order to be less vulnerable during an eventual setback. PAC believes that its money management discipline is an important element of the overall trading program. This discipline is comprised of important risk management components. For each open position there will be open stop-loss orders entered (GTC). As the market changes, these orders may be adjusted, or PAC may decide at its own discretion to liquidate the position at the market. In light of the above considerations and in light of all the warnings relayed on this website, you should carefully consider whether your financial condition permits you to participate in a managed program that trades currencies on a levered basis. In addition to careful study of this website, you should inform yourself of the risks involved in trading in spot forex, before you decide to participate in the programs offered by PAC. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE. CURRENCY TRADING MAY INCUR A HIGH DEGREE OF RISK. THIS PAGE IS SUBJECT TO THE PAC RISK DISCOSURE STATEMENT. |
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