XM Group News

Live Seminar in Budapest Proves Very Popular with Locals

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With an audience of 160 participants, the live seminar entitled “The Trade as a Game of Chess” took place in Budapest on the 19th October. The objective of the seminar was to examine how a chess player may apply their strategic thinking to currency trading.

This was an intriguing notion as chess players are renowned for their patience and extremely calculated actions. This is in direct contrast to the typical trader who often acts impulsively based on varying emotional and psychological factors that take hold as the volatile financial markets fluctuate.

By the conclusion of the seminar, professional trader and forex instructor Attila Szoboszlai had provided valuable insight in the following areas:

• How to identify price movements and trends
• How to interpret and draw resistance and support levels
• How to interpret candlestick patterns
• Intuition, hope, fear, and greed as emotional barriers
• How to handle profit and loss
• Risk management and R/R
• Time frame hierarchy, entry and exit signals

We would like to thank everybody who attended and we look forward to hosting other local events again in the future.