The problem with halogen bulbs is they operate at 5k, which is neutral lighting, its not a beneficial spectrum at ANY stage for cannabis. It will however allow them to grow, just not the way you want.

Considering I've got just shy of 1k watts in a space half that size, I wouldn't be concerned about it being a fire hazard, of course, if that lamp stand of yours falls over, it'll destroy your plant a well a probably catch on fire (I doubt that though, those halogen bulbs break easy) The biggest fire hazard in a grow op is the person over loading wiring, or having wiring on the floor where it can get wet, etc. I did find my wife trying to store a comforter on a shelf over a setup today, and reminded her that wasn't the best of ideas - Aside from stuff like that, and being careless with wiring, there isn't much of a fire hazard to growing.

But there are stupid ghetto grows that catch on fire.

So don't grow ghetto.

(and halogen don't work well, if I didn't get that point across)