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Thread: Trading Luck

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    Trading Luck

    Hello Everyone,

    I don't believe in traders being lucky, but there is a kind of luck which exist in forex trading and knowing some couple things and putting them to our trading account can give to us everlasting luck.


    . Hardwork : There is a quote by the greatest called Muhammed Ali
    I hated every minute of training, but I said, 'Don't quit. Suffer now and live the rest of your life as a champion.'
    That quote also applies to the way we trade in forex. Because if you choose to work hard today, learning and keeping to trading rules, risk and money management, you will experience some hard time but you will live the rest of your life a successful trader. So work hard and learn.

    . Discipline: This plays a vital role in how you trade, because, if you are not disciplined, nothing will work for you, you can't stick to money and risk management, you can't even stick to one trading strategy. I think discipline should be the first thing attainable by trader who wants the trader's luck. An indiscipline trader don't make use of stoploss hence they get Margin call every now and then

    In summary, if any of us wishes to be a lucky trader, DISCIPLINE and HARD work are the essential tool needed for such.

    Do you agree with me?

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    Rookie ict2014's Avatar
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    What is waiting for me to come in my life that is not possible to know advance so defend on luck is not a good way to change our trading career even I cannot properly utilize my time. Because time and tide wait for none. Human life means hard work, human life means mixing of good and bad, human life means to fight how to maximize our good than bad and for this, we need good information and consistently practice. Excessive thinking of Luck just make us idle and keep away us from a real test of human life.

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  3. #1112
    Rookie Rylai's Avatar
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    Quote Originally Posted by ict2014 View Post
    What is waiting for me to come in my life that is not possible to know advance so defend on luck is not a good way to change our trading career even I cannot properly utilize my time. Because time and tide wait for none. Human life means hard work, human life means mixing of good and bad, human life means to fight how to maximize our good than bad and for this, we need good information and consistently practice. Excessive thinking of Luck just make us idle and keep away us from a real test of human life.
    Making profits from market doesn't need any effort from luck because it gives us nothing precise. luck only gives traders further frustration and we'll play this business based on hope, not analysis. according to our logic, when people are starting to hope for profit, they'll get themselves easily dragged to deep sadness when they lose their money and overexcited when they make profits.

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  4. #1113
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    Quote Originally Posted by Rylai View Post
    Making profits from market doesn't need any effort from luck because it gives us nothing precise. luck only gives traders further frustration and we'll play this business based on hope, not analysis. according to our logic, when people are starting to hope for profit, they'll get themselves easily dragged to deep sadness when they lose their money and overexcited when they make profits.
    Forex trading is only but based on skills and experience the trader has gotten. If the trader is so much eager to succeed they should rely on what they will learn from the demo account because the demo account has got a lot of benefits as I have learned. On the other hand, the use of the simple strategy can also make a trader gets consistent success as if they are lucky.

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  5. #1114
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    Quote Originally Posted by Darkhorse View Post
    Forex trading is only but based on skills and experience the trader has gotten. If the trader is so much eager to succeed they should rely on what they will learn from the demo account because the demo account has got a lot of benefits as I have learned. On the other hand, the use of the simple strategy can also make a trader gets consistent success as if they are lucky.
    Forex is a business of skills and mindset and so we should ensure that all the work we do here is of good quality and rational. Luck is not the thing on which we can trade logically. Further those trading based on luck do all the wrong things, like they over risk or over trader to earn huge profits very quickly. We should learn from our experience and try to do things more logically and analytically.

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  6. #1115
    Trader cutiekc's Avatar
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    Be serious with your trades, learn and be able to make evaluation, then with time I think the trader will get all the whole experience they will be needing to have to therefore trade properly, but when the learning has not been done and then the trader expects to become profitable and be such a trader that trades with pure luck, it doesn't work that way, you will loss your money.

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  7. #1116
    Rookie Rylai's Avatar
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    Quote Originally Posted by cutiekc View Post
    Be serious with your trades, learn and be able to make evaluation, then with time I think the trader will get all the whole experience they will be needing to have to therefore trade properly, but when the learning has not been done and then the trader expects to become profitable and be such a trader that trades with pure luck, it doesn't work that way, you will loss your money.
    With all positive things we do starting with learning, we'll soon forget about having luck to depend on. luck only used by newbies as their excuse to help them analyze market, but they simply don't make analysis because they're misplacing things and do this trading as a gamble field. basically any trade which made by luck, more than 80% of trades will soon be executed with stop loss and losses.

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  8. #1117
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    Quote Originally Posted by Rylai View Post
    With all positive things we do starting with learning, we'll soon forget about having luck to depend on. luck only used by newbies as their excuse to help them analyze market, but they simply don't make analysis because they're misplacing things and do this trading as a gamble field. basically any trade which made by luck, more than 80% of trades will soon be executed with stop loss and losses.
    Luck is surely an immature way of trading while mature traders try always to be planned and trade good setups. Whether luck matters or not is not material since we cannot use the luck element at our discrete, we have to plan and manage the things in the best possible way. Hence we all should strive not to be such a trader who depends on luck or leaves certain important things during trading to luck.

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  9. #1118
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    We can not rely on luck when we trade in forex market because one time we will be lucky and the other time we will not have luck and we will have big losses. Traders can rely only on good technical analysis done and determination of general market direction and it will be the best way to earn money in forex market because trader will have logic where market should go and why.

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  10. #1119
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    I think is the escape got which is used by the losers because if you work hard and you are practical and your professional then luck will be on your side there is a very famous quotation which says that the more I work hard the more luck I have on my site this is how simple it is and you should not think that luck is something which will pay you out of the market and give you profits there is no such thing in to play in my opinion.

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    If you Try, You risk Failing: If you don't, You ensure it.

  11. #1120
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    Forex trading is not gambling where luck plays any role, this business is serious and so one has to know that there is no need seeking for luck, but one has to be more eager to learn and improve, the more one learns, then the more one could earn and become profitable. If you are thinking about luck, then one should know that forex trading isn't for them.

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