DOES LUCK EXISTS IN TRADING? - Page 253
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Thread: DOES LUCK EXISTS IN TRADING?

  1. #2521
    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.

  2. #2522
    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

  3. #2523
    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.

  4. #2524
    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.

  5. #2525
    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.

  6. #2526
    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.

  7. #2527
    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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