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Thread: Trading Luck

  1. #1
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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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  2. #21
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    Quote Originally Posted by Kelv View Post
    There is no luck in trading if we want to trade and survive in this trade we need to learn and develop better experience and knowledge before trading in the market we cannot survive in this trade with luck except we understand how to trade forex before we can be successful in trading forex.
    If you had read what I wrote then you would see that I am not talking about just the common luck which gamblers aims on and have. But I am talking about the luck you create for your self through hard work and discipline because such luck is that which worth it as you would be able to make profits at all times and not occasionally as the gambler's luck.

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  3. #22
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    Quote Originally Posted by Ragnar View Post
    . 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
    I agree to this because without being disciplined, we are just not serious about making money from the market. Being disciplined is one most important thing that we have to get done in forex trading. Trading has got some high level of risk and disciplined thus will help traders control their emotions which in return will help them manage the risk properly.

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  4. #23
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    we do not depend to luck factor, this is not a good way to stay on this business because forex trading is a business where traders need good skill and knowledge , this is not a field of gambling with just depend to luck and hope get the profit with just predict or guess it.
    we need good knowledge and skill which will make us understand to survive and even grow better and bigger to be a good trader and get the success

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  5. #24
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    Quote Originally Posted by ravian View Post
    I have a very clear understanding of luck in this market I believe that whoever works hard will have more of the luck and also that luck is used as a scapegoat by those people who lose money because of their own deficiencies but they are lazy enough that they do not want to get rid of the deficiencies and therefore they try to put it on the luck that had they had luck they would have made a lot of money.
    We all work hard in this business but some are get success and some are not because they have no luck. Luck is really important thing in this business. If we are lucky then every thing is easy and simple for us in this business and we can get easily good income and success in this business but if we are not good in trading and have no luck then there are nothing for us.

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  6. #25
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    Quote Originally Posted by shahzad View Post
    We all work hard in this business but some are get success and some are not because they have no luck. Luck is really important thing in this business. If we are lucky then every thing is easy and simple for us in this business and we can get easily good income and success in this business but if we are not good in trading and have no luck then there are nothing for us.
    I think it is not because of luck it is due to getting skill and better learning or not as we spend time in this market we always learn well and make it useful experience so if it will not possible then our all efforts go wrong we always need a good strategy which we can follow in trading with aggressive way .

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  7. #26
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    There is nothing like trading luck if you want to become successful in trading forex you must work hard if you depend on luck for success you deceive yourself because you can never be successful trading forex when you depend on luck, to survive in trading forex you must be a good forex trader.

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  8. #27
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    Here you must stop thinking that you could make success with luck because trying to earn luck means that you are going to loose up your trading capitals sooner or later. What every trader needs in forex is the perfect knowledge and the perfect skills which can develop us and give us a better means to hope for the best. We need to have our own system and develop it to become effective in this market.

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  9. #28
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    Traders should try as much as possible to overlook the luck in trading, we should never try to think of it because it will eventually be distraction for the trader. This can not let traders grow since they do not know how to really trade, but thinking that there is a thing called luck that can help them. That mindset is the faster means for traders to fail.

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  10. #29
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    I choose not to depend on luck because this is one way to loose huge in this business. Been lucky in this trade is not accepted. It will make you to trade wrongly and put you on the need for proper regrets in your trade. I see the need to practice well and have my own system that's why I follow the right means of trading and avoid luck that could cause loss.

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  11. #30
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    Quote Originally Posted by layigold View Post
    I need to emphasize that luck exists in forex trading just as it exists in real life but nobody has control of luck . In forex trading , you cannot depend on what you cannot control and expect to be profitable and successful. It is better to depend on knowledge, skills and experience which you have acquired through learning and practice as that is the only one thing that guarantees any trader success in forex trading. I have seen a situation when price was very close to my stop loss order say , like five pips and would have thought to end such a trade in loss only to be surprised that instead of seeing loss when checking the account later, it is pure profit. That is nothing but luck playing out and it is not the trader that influences an occurrence of such

    Forex trading is must need luck because luck is most important thing in this business but remember that our luck is work only good for us if we have good knowledge in forex. If we think that without learn we can make money in forex with our luck then this is not possible in forex. We must need learn this business and work with our full concentration then our luck is work for us and bring money in our trading.

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