DOES LUCK EXISTS IN TRADING? - Page 253
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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. #2521
    Trader Toyen's Avatar
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    Quote Originally Posted by naeem555 View Post
    some time we can have experience and skills but this is reality we can not predict market all day or time, so without confirming still we place order and some time this happen because of greed or over confidence, so if we can handle this we can trade easily, this is like luck trading and if anyone doing luck trading its not trading its gambling and a gambler can lose at the end, so make sure you do trading which based on analysis and experience, not based on luck just
    It is not a must that we confirm what we are doing, it depends on the strategy we are using. There are some strategies that likes to be used alone, and when we tried to confirm it with other strategies, it can cause confusion for that trader. We have to know how to handle our trading affairs and not likewise rely on luck, that is what will make us no to gamble, and we need proper plans always.

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  3. #2522
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    Quote Originally Posted by Toyen View Post
    It is not a must that we confirm what we are doing, it depends on the strategy we are using. There are some strategies that likes to be used alone, and when we tried to confirm it with other strategies, it can cause confusion for that trader. We have to know how to handle our trading affairs and not likewise rely on luck, that is what will make us no to gamble, and we need proper plans always.
    we should not rely on luck because when we rely on luck we can not think properly because if we do not trade on experience and we do just trade on luck we can not understand market so when we do not understand market simply we can be confuse in market and can lose. so make sure you are not depending on luck and doing trade on experience and knowledge it can lead us to success, luck trading can lead us to failure easily

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  4. #2523
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    Quote Originally Posted by altafch View Post
    we should not rely on luck because when we rely on luck we can not think properly because if we do not trade on experience and we do just trade on luck we can not understand market so when we do not understand market simply we can be confuse in market and can lose. so make sure you are not depending on luck and doing trade on experience and knowledge it can lead us to success, luck trading can lead us to failure easily
    The concept of trading is based on strong analysis and following of risk management and if we rely on luck for earning profits, it means we have not yet properly understand the concept of trading. Luck has to do with psychology, it is the psychology of some people to make things very easy and that is why traders try to make money with luck. We have to do our part of work well and we cannot actually leave something in trading entirely to luck.

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  5. #2524
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    I recently read an article of a poker championship winner. She talked about luck. This is indeed the place to be, but it is not enough to be lucky, one must still possess knowledge and talent.

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  6. #2525
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    Quote Originally Posted by Abhishekwala View Post
    The concept of trading is based on strong analysis and following of risk management and if we rely on luck for earning profits, it means we have not yet properly understand the concept of trading. Luck has to do with psychology, it is the psychology of some people to make things very easy and that is why traders try to make money with luck. We have to do our part of work well and we cannot actually leave something in trading entirely to luck.
    To be a profitable trader we have to make sure that we are doing the work of analysis and risk management with top priority. The market is not accurately predictable that does not mean there is luck, but there should be just strict risk management. Luck is not the thing to trade. Even those who believe in luck, they will accept that luck is not the thing that can be used or relied upon.

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  7. #2526
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    No luck does not exist in trading and neither in life, we have to work for everything and that is how we achieve anything in life. To be a profitable trader we have to make sure that we are doing the work of analysis and risk management with top priority. The market is not accurately predictable that does not mean there is luck, but there should be just strict risk management.

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  8. #2527
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    In some ways luck can matter, but mostly its yours/ours decisions. Its us who decide to trade at certain level of market or not. If we decide to trade and get profit we will claim that our knowledge and experience has helped us get it, but if it gives us loss we blame our luck for that.
    We do get lucky sometimes when we place order and suddenly price moves in our favour or against us for no obvious reason.

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