Does being a Good Chess Player make you a better FX Trader

I can see the parallel you are trying to make. The reality of forex to me is that time is your enemy. Simply think about what fuels most of your positions amd you will notice it beimg time.

Nope being a good chess player I think isn't going to increase your chance of being a good FX Trader. Hmmmm Why don't we go to Russia and ask Kasparov to be sure hah hah

Maybe if he gains FX trading experience might take lesser time to master it than the average guy.

A good chess player can “think” several steps in advance ...
If there’s any correlation, I think both chess and trading need “planning” before moving ...

lol i dont think so

Yet in forex,traders' bias doesnt allow them to make adjustments based oonn market conditions. That would be the same as a chess player only being offe sive minded and not looking at what the opponent is doing.

Any chess player can turn into a trading monster if there is a book explaining how to trade the highs and the lows. So far the trading books keep silence on that matter and the chess players have no place where to learn about the highs and the lows... unless they figure it out themselves by the process called thinking.

Lol monkeyZ I'm officially your brother !

Dad?

Tell me Son?

Absolutely good chess player can be good , brilliant trader, any time: know to think and observe, no need indicators. most valuable tool is his/her brain.
"good trader": is about money management (very questionable to many and is just delay for bankruptcy) , always searching for new indicators, obsessed with all kind of news and other events, under stress and emotions all the time...

Uncle here

almost whole family of MoneyZilla here...one was enough.

In a word. Nope.

If you want an activity that will make you a better trader. Try this. You will understand why when are ready, if you last that long.

By playing chess you can develop habits that will be useful in trading, but this is only a very very small part of what is needed for successful trading.

Chess itself is a game which makes your mind sharp and increase your thinking ability which is also one the trait required for a good trader, this skills help him in forex market. So being a chess player will definitely help trader in this market.

It seems to me that the main thing that a trader should know is the psychology of traders, because every day on the market we feel incredible pressure and tension, and it can lead to a huge number of mistakes that you could avoid in general. So you have to understand what you have to do with your emotions in one way or another, how you deal with it, so that in the future you can work more productively and become a real professional, who can really improve and develop in this area. That's why books and articles on psychology are as important as studying strategies and mechanisms of the market. So do not forget about it and become a real trader!!!

In fact, anything can come in handy and sometimes you can do the right thing, as you think, because of luck or because of a good combination of circumstances. But in reality it's not, it's just that you've gotten enough information before or you've got the necessary knowledge to do the right thing in this situation. I think that a successful trader can be a person who has not only studied the market or strategies well, but also a versatile person, who in general can be considered intelligent and educated. That is why do not dwell on one thing and try to develop in all directions so that you could realize yourself in different directions and accordingly could achieve financial well-being.

I think that different knowledge, which is not only about mathematics, economics and politics, can help in trading. The main thing is to really take in something that can benefit you and help you, you have to apply logic, ingenuity, activity, determination and many other qualities to make your trading more and more.
I know people who were not interested in anything like this before trading and didn't think that they could achieve some kind of colossal success. But now they earn steadily and even regret that they have not started to be interested in it before. So you shouldn't doubt it until you've tried it, in fact only in a few cases you shouldn't trade, for example, if you can't control your excitement at all.