This scarcity of biographical information is due primarily to his social position; he was not a noble, but the son of a leather trader.

传记信息不足主要是由他的社会地位造成的：他不是贵族，而是一个皮革商人的儿子。

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Funding liquidity risk is the risk that a trader cannot fund his position and is forced to unwind.

资金流动性风险即是交易者无法聚积现金并且强迫平仓的风险。

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The trader is betting the long position will either rise more or fall less than the short one.

交易者押注多头将比空头涨得多或跌得少。

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For gold, he tends to be an intermediate-term trader, holding a position for a week to a couple of months.

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By being a trend-following trader, you put yourself in a position to benefit when a black swan happens.

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