DOES LUCK EXISTS IN TRADING? - Page 249
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Thread: DOES LUCK EXISTS IN TRADING?

  1. #1
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    DOES LUCK EXISTS IN TRADING?

    Introduction: First and foremost, i have being hearing some traders that are talking about luck in the market, and most times, my instincts says otherwise to what they normally refers to. For instance, some will say they were luck on a particular trade day, while others will say that they luckily place the order and they were on the right tract. If we are asked the sincere question, what will be our true answer? Does luck really exist in trading, or it is just a propaganda or ignorant statement of traders that do not really know how the market is working and what the market stands for.

    Body: I have thought well on the issue of the luck, whether it presents in the forex or not, and there is only one answer that keeps coming to my mind, and it is the fact that luck does not exit in the market, it is only a propaganda and misuse of words by traders.

    Let's think of it, this is a business, we have to know it, blend it, manage it, and utilize all the skills we have to amke good success from it. Do you think luck can do all these for us? No. Luck will not do this for us because we can not gamble with our trading career. Any trader that relies on luck are gamblers, because this is what is never existing, luck does not exist. We can not see luck, we can not talk to luck, we can not manipulate luck to our favor, it is what humans believes that shows when we narrowly escapes danger in the market, will that be what you want to build your trading status with? I say No. Traders should stop this.

    In my conclusion, traders should learn and have the good way to trade this market, we should be adequate to trade it and always learn more when we have issues surrounding our trading. And any trader that depends on luck are only gambling, and they can never have good results from forex trading.

    Please, lets discuss...

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  2. #2481
    Trader cutiekc's Avatar
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    Quote Originally Posted by naeem555 View Post
    i do not trust on luck also but totally, there is some difference if we just depend on luck we can do gambling because gambling and trading have just this difference, if we use just luck we do not know about market its kind of gambling, if we use proper analysis and management its real trade so keep in mind this difference also, but at same time we can not ignore luck also its necessary part also
    If we depend on luck. I see it hard for us to become successful. But when we don't depend on luck, we can learn things differently, we can get to understand the market in a more better way. That we have a lot of experience and knows how to increase our earnings. Luck could take us to little while success, while experience gets us the over all long term success we will be needing.

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  3. #2482
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    Forex trading is not gambling so I see no reason why any trader have to depend on luck in here, keep in mind that we are here to make some money which will come when there are the right knowledge and skills, traders that depend on the luck are the lower class trader that can't do anything except gambling around, I always trade with proper planning and strategy and I don't believe any kind of luck.

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  4. #2483
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    Quote Originally Posted by Nova View Post
    Forex trading is not gambling so I see no reason why any trader have to depend on luck in here, keep in mind that we are here to make some money which will come when there are the right knowledge and skills, traders that depend on the luck are the lower class trader that can't do anything except gambling around, I always trade with proper planning and strategy and I don't believe any kind of luck.
    you are right here we are not doing gambling mostly gamblers are the people who depend on luck. we also make probability but its different we do trade with proper analysis we use tools. we use news and after that we enter or exit we use proper management for it. in gambling we bet we earn 100% or lose 100% so here its not same so don't trade on luck

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  5. #2484
    Trader Sixteen's Avatar
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    Don't try to see that you can earn here by been lucky. It's remains a faster means to loose your capital because if you are not knowledgeable enough, you will. easily make loss in this market and you won't really like it. Luck have to be managed and it's a good point if traders will follow profitable measures to manage their loss and see that profits is been made. Luck will be hard to survive with and my advice for traders is that they avoid luck and increase their knowledge.

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  6. #2485
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by Sixteen View Post
    Don't try to see that you can earn here by been lucky. It's remains a faster means to loose your capital because if you are not knowledgeable enough, you will. easily make loss in this market and you won't really like it. Luck have to be managed and it's a good point if traders will follow profitable measures to manage their loss and see that profits is been made. Luck will be hard to survive with and my advice for traders is that they avoid luck and increase their knowledge.
    Market provides almost everything we need to know about determining market possible trend and next movements so there is no excuse for us to depend on luck. We can only relate luck to any kind of gambling and if we disagree with it, we must stick to the plan and go for real trading without luck. Traders who trades without getting enough knowledge, they will use luck as their reason to trade and guide them to profits but it is wrong thing to do.

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  7. #2486
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    Luck is not the best trading idealogy that we are supposed to have, it kills innovation and hard work, there is no one that made money with consistency by depending on mere luck, I will not argue with someone who says that luck exists in the Forex market, because indeed there is an element of luck we cannot remove from the market but we should be careful though, that is what I think.

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  8. #2487
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    Quote Originally Posted by Leonvic View Post
    Luck is not the best trading idealogy that we are supposed to have, it kills innovation and hard work, there is no one that made money with consistency by depending on mere luck, I will not argue with someone who says that luck exists in the Forex market, because indeed there is an element of luck we cannot remove from the market but we should be careful though, that is what I think.
    yes there is no luck exist here our experience matter just. if we think here luck exist we can lose just so make sure you are not truing to trade on luck, make experience for that do some practice, do not use shortcuts choose proper way for trading. if you don't have enough experience then do practice on demo it will increase experience but do not think you are lucky and luck will save you in future, market never will favor you if you will go to against of market

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  9. #2488
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by touqir View Post
    yes there is no luck exist here our experience matter just. if we think here luck exist we can lose just so make sure you are not truing to trade on luck, make experience for that do some practice, do not use shortcuts choose proper way for trading. if you don't have enough experience then do practice on demo it will increase experience but do not think you are lucky and luck will save you in future, market never will favor you if you will go to against of market
    Why we need luck when we can get better insurance by trading with our own understanding? It does not make any sense for traders to depend on luck because it is something that makes traders keep dreaming about making high earning with less efforts. Logically, something like this is never going to happen because we should know one fact that when there is big result, there goes big efforts behind it so understand this first.

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  10. #2489
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    Luck will be hard to survive with and my advice for traders is that they avoid luck and increase their knowledge as there is no work of luck in forex trading, I have never believed in luck because I know really how the market works and I know that the people who believe in luck are wasting their time, so we have to know that the ability to make money from the market is depending on our consistent efforts, knowledge and skills.

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  11. #2490
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    Quote Originally Posted by Azis Muslim View Post
    Why we need luck when we can get better insurance by trading with our own understanding? It does not make any sense for traders to depend on luck because it is something that makes traders keep dreaming about making high earning with less efforts. Logically, something like this is never going to happen because we should know one fact that when there is big result, there goes big efforts behind it so understand this first.
    Understanding insures our bright career in the Forex market and the more experience we build here, the deeper our understanding will get. Without knowledge and experience if one ventures into real trading, his plight will be like a person in the battlefield without any weapons and shields. Our trading should not be depended on luck but should be well defined according to a strategy that gives signals and according to specific trading rules.

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