Playing Chess & Forex Trading

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The last couple of day’s market was quiet and I took some time to relax, I spend Saturday on the beach trying to re-charge myself.While I was enjoying my day without PC, phone or any other gadget, i noticed two older gentlemen’s playing chess.After I watched two players playing probably one of the most popular game in the world in my mind I was thinking how much similarities chess and forex trading have in common.

Chess is the game between two people, where one must win! In trading When you buy someone is seating on the opposite side of you and selling the same instrument, so one of you two must win and the other one will lose.

The main goal in chess is to protect a king and find a way how to get your opponent kings.In trading you have exactly the same goal, all you do is trying to protect your account while you try to make a profit.

Both players in chess have 16 (sixteen) figures that control and every figure play a major role in the battle that’s going to start. In trading, we can translate figures your education because trader on each side have some education and at the end the trader with better education will usually win the game.

Both players have time to think and think what’s the best move to take, in trading we have the same process, we have time to think about what we are going to trade and think what is the best strategy to use in the current trading session. This steps most new traders forget, they rush into a market without thinking and proven strategy. SO before you open the next trade just take a few more minutes and see what’s the best strategy to use.

To master both games you need to have seat down and play, the best way to learn chess is to play hundred and hundred hands so you can learn from your mistakes and get better with every win or loss, best way to learn trading is the same thing, starting opening a trades, start implementing your trading strategies and learn from your every win or loss.

There is probably more things that chess have in common with trading but this few things we talked about today are going to be enough for now.

Enjoy your day, but don’t forget your main goal “Protect Your King & Find a Way How To Get Your Opponent King!

1 Comment

  • Mathew blaze

    December 25, 2015

    I never thought about chess and forex trading like that..it is a very nice comparison…need to protect the king and make money…at the moment im using forex demo account and learning about latest practices in the market