knowledge about risks and their types.

[DubemIfedigbo001]

In my opinion there are only two major types of risks the calculated risks and the non calculates or blind risks.

In calculated risks we do some research and the after putting all the efforts and techniques we came to a conclusion that now this trade will make us profits and then we invest. In blink risks we just invest by seeing the hype of a project or by so-called signals group.

You raised a very important point here, we take almost all these types of risks everyday, but taking a calculated risk makes the difference. When taking calculated risks, you take risks that is worth the stress and risks that's worth your reputation being on the line. If you don't take risks that means you're not living because life itself is a big risk.

Even investing in BTC is a risk because the price is very volatile and you're not sure of the next trend. That's why you make calculated risks in your bitcoin investment by investing with your spare funds and money you can afford to loose, so you would not tamper with your investment until about 4 to 10 years when it must've become profitable.

Man is nothing without taking risks, you take calculated risks and succeed, you become a celebrity, and even if you take good risks and fail, you're still one step ahead of where you were previously and with your experience, you're one step up the ladder of success. Let's keep taking calculated risks!!!..

[Ever-young]

I totally agree with your explanation of information, especially it will be very useful for newbies who don't know much about risk. It will be very helpful and useful for newbies. To get anything good we need to manage the risks that come our way, and for that we need to know and understand the risks well. This is a help post, so I think it should be in the Beginners & Help thread.

You are right, as it will also help them to be determined or dedicated to work  and also make them to be strong, so without risks in anything we do, I don't think it will be achieve because I have come to understand that nothing beneficial comes with easy way and we can't be successful without going through process or risks and that is why we should also have the knowledge or idea to manage anytime we encounter those risks and know what to do in order to not a victim of circumstances and never forget to always seek help or support from those who are already ahead of us to gain more knowledge.

[Cryptomultiplier]

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.

[CageMabok]

You are right, as it will also help them to be determined or dedicated to work  and also make them to be strong, so without risks in anything we do, I don't think it will be achieve because I have come to understand that nothing beneficial comes with easy way and we can't be successful without going through process or risks and that is why we should also have the knowledge or idea to manage anytime we encounter those risks and know what to do in order to not a victim of circumstances and never forget to always seek help or support from those who are already ahead of us to gain more knowledge.

The process of understanding and managing risk is actually not complicated enough, although it is also not easy enough for a small number of people, especially for beginners who previously had no experience in dealing with any risks. I also quite agree with what the OP has expressed in this discussion topic because it is definitely quite useful for those who want to know some risks and how to manage them well. Because beginners usually also tend to be afraid of facing risks because they still don't understand how to deal with a risk appropriately.

[kryptqnick]

I was just working on a strategic vision at work today, so a lot of what the op mentioned seems relevant to me now. There are indeed different types of risks and they need to be accounted for. But I'd also add another thing: apart from types of risks, it's important to estimate how bad a risk is and how likely the unfortunate is to happen. For example, if Bitcoin suddenly costs $100 tomorrow, that's of huge negative impact, but the likelihood of that is low. Meanwhile the risk of a massive transaction fee spike till the end of the year can have significant impact if one intends to use Bitcoin at that point, and its likelihood is fairly high.

[Fiatless]

I totally agree with your explanation of information, especially it will be very useful for newbies who don't know much about risk. It will be very helpful and useful for newbies. To get anything good we need to manage the risks that come our way, and for that we need to know and understand the risks well. This is a help post, so I think it should be in the Beginners & Help thread.

You are right, as it will also help them to be determined or dedicated to work  and also make them to be strong, so without risks in anything we do, I don't think it will be achieve because I have come to understand that nothing beneficial comes with easy way and we can't be successful without going through process or risks and that is why we should also have the knowledge or idea to manage anytime we encounter those risks and know what to do in order to not a victim of circumstances and never forget to always seek help or support from those who are already ahead of us to gain more knowledge.

We live in a world that is unpredictable this is why we need to calculate and make plans for the future. But the first thing people should do is to have a sound knowledge about the business or investment they want to embark on. Many people will just calculate how much profit they will make from the business but they fail to understand that it might not be an easy run. There are challenges to overcome and risks to control. This is why I find this thread insightful. It should be a reminder that we should be prepared for uncertainties.

[lalabotax]

It's clear that knowledge is the basis of anything. Yes, having good knowledge regarding the risks in the crypto space is very important. because, with that, we become more aware and alert to various risks that will be faced in crypto and the economy in general. So whether we like it or not, we have to have good and appropriate risk management. Because, proper and good risk management will help us to avoid various risks that will frequently occur and be encountered. Then, this risk management can also help us in implementing something so that we can minimize losses and can actually optimize the gains. With good and wise risk management, we can be more alert about what decisions we will make next too. So. It won't get any worse.

[Xampeuu]

It's clear that knowledge is the basis of anything. Yes, having good knowledge regarding the risks in the crypto space is very important. because, with that, we become more aware and alert to various risks that will be faced in crypto and the economy in general. So whether we like it or not, we have to have good and appropriate risk management. Because, proper and good risk management will help us to avoid various risks that will frequently occur and be encountered. Then, this risk management can also help us in implementing something so that we can minimize losses and can actually optimize the gains. With good and wise risk management, we can be more alert about what decisions we will make next too. So. It won't get any worse.

In any field, knowledge is the main capital to be successful. someone with high knowledge, or mastering a certain field, then they can more easily become successful, by earning a lot of money from their expertise, then the next stage is good financial management, so that the money earned can be used wisely, even can be invested in other fields, so that the money will work on its own, so that we can enjoy it, The knowledge that is mastered must take into account risks and rewards, so that we know what and how it will happen later, this is useful for determining steps to overcome it.

[michellee]

Risks are the result of what we get and can be greater if we do not know how to handle them. Most people find it difficult to handle the risks and tend to let them go and that causes the risks to become large. If we take the time to learn about risks, we will know how to reduce them.

We can also find out how to prevent the risk from getting bigger. This will ensure that we do not fail and can continue with the plans we have made well. We will also try to always be careful by checking what we have done and our next plans.

As we learn to handle risks more often, we will not worry if the risks get bigger. We can only reduce the risk so that it does not have serious consequences.

[justdimin]

It's clear that knowledge is the basis of anything. Yes, having good knowledge regarding the risks in the crypto space is very important. because, with that, we become more aware and alert to various risks that will be faced in crypto and the economy in general. So whether we like it or not, we have to have good and appropriate risk management. Because, proper and good risk management will help us to avoid various risks that will frequently occur and be encountered. Then, this risk management can also help us in implementing something so that we can minimize losses and can actually optimize the gains. With good and wise risk management, we can be more alert about what decisions we will make next too. So. It won't get any worse.

In any field, knowledge is the main capital to be successful. someone with high knowledge, or mastering a certain field, then they can more easily become successful, by earning a lot of money from their expertise, then the next stage is good financial management, so that the money earned can be used wisely, even can be invested in other fields, so that the money will work on its own, so that we can enjoy it, The knowledge that is mastered must take into account risks and rewards, so that we know what and how it will happen later, this is useful for determining steps to overcome it.

That is true, it doesn't even have to about trading, if you learn a skill and you are amazing at that, then you are going to make money from it and just live doing what you do best. You can be a painter, a writer, a car mechanic, a crypto trader, a coder, a teacher, doesn't matter what you do if you are one of the best in your field then you are going to end up with making a lot of money.

The trick is that you should be able to provide a proof of that to people, because if you can do that, while that may take a while, eventually you will grow bigger and bigger, social media and internet allowed us to provide proof that we are doing a lot better and we should consider how we could grow a bit more, and get attention to earn more money.

[kentrolla]

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.

[0t3p0t]

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.

[Mrbluntzy]

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.

[Albarq]

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.

[topbitcoin]

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.

[boty]

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.

[mindrust]

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.

[TheUltraElite]

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.

[ringgo96]

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.

[iv4n]

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?