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What are the most important ERM best practices and standards for TA risk management?

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Technical analysis (TA) is a method of analyzing financial markets based on historical price patterns, trends, and indicators. TA can help traders and investors identify profitable opportunities, but it also involves various types of risks, such as market risk, technical risk, and psychological risk. To manage these risks effectively, TA practitioners need to follow some best practices and standards based on enterprise risk management (ERM) principles. ERM is a holistic approach to identifying, assessing, and controlling risks across an organization. In this article, we will discuss some of the most important ERM best practices and standards for TA risk management.

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Ravi Garg

Helping Mid-Career Professionals Build a ?5 Crore Retirement Corpus with Smart Investment Strategies through the Magic…
Dr. Elwanda Bennett, MEDP, PMP

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1 Establish a risk governance framework

A risk governance framework is a set of policies, procedures, roles, and responsibilities that define how risks are managed in an organization. It should align with the organization's vision, mission, values, and objectives, as well as the regulatory and ethical requirements. A risk governance framework should also specify the risk appetite, tolerance, and limits for different types of risks, and how they are measured, monitored, and reported. A risk governance framework can help TA practitioners to ensure that their risk management practices are consistent, transparent, and accountable.

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Ravi Garg

Helping Mid-Career Professionals Build a ?5 Crore Retirement Corpus with Smart Investment Strategies through the Magic of Compounding ? Retirement Planning ? Wealth Generation ? High Accountability
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Continued Risk Management through Technical Analysis can be a boon for any investor, organization or large Institutional Investors It helps in identifying the coming risk in any particular asset class or a security as it predicts the future trends coming With experience one can effectively navigate the journey towards financial abundance by constantly following the basic principles of risk management

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Rajesh N

Accounts Payable | Reconciliations | Advanced Excel | Robotic Process Automation | ChatGPT & AI Tools | Prompt Engineering | Team Management
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The most important ERM best practices and standards for talent acquisition risk management include thorough compliance with legal regulations, standardized processes, meticulous documentation, rigorous candidate screening, robust data security measures, and ongoing monitoring and improvement efforts.

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2 Perform a risk assessment

A risk assessment is a process of identifying, analyzing, and evaluating the potential risks that may affect the performance and outcomes of TA activities. It should consider both internal and external factors, such as the market conditions, the technical tools and methods, the data quality and reliability, the human factors, and the stakeholder expectations. A risk assessment should also quantify the likelihood and impact of each risk, and prioritize them according to their significance and urgency. A risk assessment can help TA practitioners to focus on the most relevant and material risks, and to allocate resources accordingly.

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3 Implement risk mitigation strategies

Risk mitigation strategies are actions or plans that aim to reduce the exposure or impact of the identified risks. They can include avoiding, transferring, sharing, or accepting the risks, depending on the risk appetite and tolerance of the organization and the TA practitioners. Risk mitigation strategies should also consider the cost-benefit analysis, the trade-offs, and the potential consequences of each option. Risk mitigation strategies can help TA practitioners to manage the risks within acceptable levels, and to enhance the efficiency and effectiveness of their TA activities.

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Dr. Elwanda Bennett, MEDP, PMP

Challenge the present. Change the future.
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Using a risk register would be one specific way that you can keep track of the cost benefit analysis and trade-offs that have been applied the Additionally you would have an opportunity to apply the framework and see what outcomes work best for your risk profile and asset portfolio

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4 Monitor and review risk performance

Monitoring and reviewing risk performance is a process of measuring, tracking, and reporting the actual results and outcomes of the risk management activities. It should compare the expected and actual risk levels, and identify any deviations, gaps, or issues that may require corrective actions or adjustments. Monitoring and reviewing risk performance should also evaluate the effectiveness and efficiency of the risk mitigation strategies, and the compliance with the risk governance framework. Monitoring and reviewing risk performance can help TA practitioners to improve their risk management practices, and to learn from their successes and failures.

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5 Communicate and collaborate with stakeholders

Communicating and collaborating with stakeholders is a process of engaging and informing the relevant parties involved or affected by the risk management activities. It should include sharing the risk information, insights, and recommendations, as well as soliciting feedback, opinions, and suggestions. Communicating and collaborating with stakeholders should also foster a culture of risk awareness, transparency, and accountability, and promote mutual trust and respect. Communicating and collaborating with stakeholders can help TA practitioners to gain support and buy-in for their risk management decisions, and to leverage the collective knowledge and experience of the stakeholders.

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6 Update and adapt to changes

Updating and adapting to changes is a process of reviewing and revising the risk management practices in response to the changing internal and external environment. It should involve scanning the horizon for emerging risks, opportunities, and trends, and assessing their implications and impacts on the TA activities. Updating and adapting to changes should also incorporate the lessons learned and the best practices from the previous risk management cycles, and adjust the risk governance framework, the risk assessment, the risk mitigation strategies, and the risk performance indicators accordingly. Updating and adapting to changes can help TA practitioners to stay relevant and resilient in the dynamic and uncertain financial markets.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the most important ERM best practices and standards for TA risk management?

1

2

3

4

5

6

7

1 Establish a risk governance framework

2 Perform a risk assessment

3 Implement risk mitigation strategies

4 Monitor and review risk performance

5 Communicate and collaborate with stakeholders

6 Update and adapt to changes

7 Here’s what else to consider

Technical Analysis

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What are the most important ERM best practices and standards for TA risk management?

1

2

3

4

5

6

7

1 Establish a risk governance framework

2 Perform a risk assessment

3 Implement risk mitigation strategies

4 Monitor and review risk performance

5 Communicate and collaborate with stakeholders

6 Update and adapt to changes

7 Here’s what else to consider

Technical Analysis

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