International traders had the opportunity to enjoy four dynamic and interactive seminars during February and March 2019. The events were held in Utrecht (NL), Prague (CZ), Zagreb (HR), and Belgrade (RS) in front of a curious crowd with a desire to learn.
All 4 sessions lasted well over 3 hours each and offered remarkable moments, valuable education, and networking opportunities with other traders including Chris and Nenad from ECS itself.
The events were free of charge, organized by Elite CurrenSea, sponsored by XM broker and supported by FXStreet, FX Empire, ForexNewsNow & Finance Feeds (read summary about NL) to boost awareness of high quality education.
Did you miss the events? The good news is that you can catch up on all of the ins and outs via this article. Plus, make sure to sign-up with the ECS newsletter so you are notified when new seminars are announced.
All 4 events started with a clear and concise explanation why analysing and trading the financial markets has become a key skill for the 21st century. Changes in technology, robotics, artificial intelligence, and automation could impact the workforce in unknown ways and it’s up to employees, investors, and citizens to invest in skills that are and remain relevant.
ECS offered the idea that analysing and trading skills are not only needed for reducing the risk of being dependant on one income (from employment or self employment) but that analysing charts also offers traders the ability to improve the timing of their investments. Analysis is part of modern day financial literacy and is needed to improve one’s own potential financial success.
ECS also explained the Forex market in general and why it is exceptionally suitable for traders to trade. With the availability of micro accounts at for instance XM, traders can implement solid risk management principles even though their trading accounts could be relatively small. Quick, 24-5 market access allows traders to adjust positions swiftly rather than be tied down to long-term buy and hold (also sometimes known as hopes and dreams). Traders can also benefit from Forex due to its massive daily volume, substantial volatility, and impulsive price movement.
The seminars explained that trading is a key branch for everyone’s financial success together with investing and business. Each of these pillars do not rule each other out and in fact, applying all three could prove to be very effective.
Elite CurrenSea switch from why to what as Nenad and Chris dived into the benefits of using indicators and patterns in combination with price action and candlesticks.
The public was reluctant to embrace the statement and either indicated hesitation or disagreement at first. That soon changed when dozens of charts examples were offered showing how chart patterns, moving averages, and other indicators played a key role in understanding the charts and finding profitable setups.
The attendees were learning quickly after they were explained how to recognise price formations. Each new example gave traders a new perspective and helped them progress, although of course follow-up study with ECS and/or XM is recommended.
XM Sponsored Breaks and Events
Soon it was time for the breaks. Attendees were ready for a well deserved refreshment, snack and talk with their fellow traders. Some took the opportunity to speak with representatives of XM and and ask them about their trading conditions (one of the lowest costs), their advantages versus other brokers, their withdrawal fees (none) and methods (dozens of options).
Chris had already explained by then that XM was one of the, if not the largest brokers in the world and had emphasized the importance of finding a reliable broker. XM has an incredible number of 2.5 million active traders in almost 200 countries.
One of the main reasons for XM to sponsor analysis, learning, videos, and webinars is to help traders become better traders. XM and ECS support each other’s vision that education remains a fundamental pillar for every single trader, regardless of their experience.
All 4 seminars had 900 + registrations and hundreds of curious traders showed up. So, there was plenty of reasons to mingle, talk and discuss… Lively discussions were not avoided as traders discussed their favourite methods and ideas together.
After the event Neand, usually full of energy, grasped, saying that having two seminars with over 300 attendees in just two days, is “both amazing and exhaustive”. Both events in Zagreb and Belgrade had to be prolonged by 30 min at least to accommodate all the questions and Neand’s always off the script interaction with the audience.
The seminars also saw heated debates about the value of fundamental analysis, news events, and technical analysis. A few traders argued that the price movements were dictated by news events only. Chris and Tarantula FX indicated that everyone will need to find their own style that works for them personally.
But, of course, their style is fully focused on charts. They did explain that trading higher time frames (daily and higher) should take into account fundamental analysis, especially weekly charts. Also trading lower time frames (below 4 hour) requires attention to news releases, data, and events.
It was clear though that Chris and Nenad preferred analysing the outcome (price & charts) of all factors rather than analysing the why behind price movements. Chris explained it as such: “The price chart shows the overall balance of all the various why’s that are available. By analysing price, we are able to make a educated guess about the next step without the nuisance of analysing 1000s of pages of fundamentals. And remember, we are not aiming for perfection but for a long-term trading edge that provides profits.”
Besides tons of charts, patterns, quizzes, questions, trading theory, and live trading examples, Chris and Tarantula FX also explained the importance of risk management and trading psychology. Trading bias is unavoidable and must be embraced and managed to avoid nasty surprises. A trading plan that entails strategy, risk and psychology is a must for all seasoned traders.
Another key aspect that was mentioned is the need for creating a long-term trading track record with each and every approach, system, and method. A minimum of 50 setups is needed before traders can truly assess their approach with more depth. Traders should never make conclusions based just on one single loss or win.
Keep an eye on our webinars seminars page as well as make sure to be in our newsletter to know about the future events.
For now we are planning to take the time outside of seminar rooms to work on improving the systems. ecs.LIVE and overall usability. Several interesting strategic alliances are in works – stay updated on this, and if you are in doubt which broker to use, make sure to check our trusted brokers section (make sure to check XM, they offer great conditions).
Make sure to stayed tuned in to our blog for all of the latest updates!
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Elite CurrenSea team