Trading Luck
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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?

  2. #2
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    This seem to be talking to me now, because I have been doing trades the wrong way, and now I am determined to keep on trading the right way so that I can be profitable and successful in the future. Evidently, there is no luck in the business and so many people has been able to make money from the market because they have the right learning and understanding. So it now seem as if they are trading with luck.

  3. #3
    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

  4. #4
    I so much agree with layigold, luck may just help you to avoid loss in a trade maybe because you are unable to catch the setup but end up being a losing trade and in the process avoiding the loss you will have if you are able to catch he trade, but since nobody has control over luck and you can't even know of you will be lucky or not, so it is better to leave it out of your trading and don't depend it
    Always have realistic DREAMS!

  5. #5
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    I don't think any such thing is going to help you in this market because the forex market is really based on rational approach and logic and there is no such thing as luck involved in it because I believe that love is only a scapegoat of those people who do not try to make money out of their on struggle and when they lose money they try to hide their deficiencies by blaming the luck.

  6. #6
    Since we know that trading is business in which luck is very high but i do not believe because i use our technical and fundamental analysis which gives a approximately.an old trader only use our experience and do not select a order of buy or sell without our strategies and indicators.luck is a minimum helpful for a traders.

  7. #7
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    luck and discipline are two completely different things. when you are trading on luck you are basically gambling and hoping that you end up in profit. when you have discipline and are trading on discipline it means you have got skill and are trading based on the knowledge you have developed and the discipline to carry it out.

  8. #8
    Quote Originally Posted by mundia View Post
    luck and discipline are two completely different things. when you are trading on luck you are basically gambling and hoping that you end up in profit. when you have discipline and are trading on discipline it means you have got skill and are trading based on the knowledge you have developed and the discipline to carry it out.
    it is gamblers that depends on luck, they do so because they are not sure if what they are doing will be rewarding but because there is a little potential that it will be rewarding, then they go for it hoping that they become lucky, so because of that, gambler always think or a very big reward that is many times more than the risk, this case should be different in forex,
    Always have realistic DREAMS!

  9. #9
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    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.

  10. #10
    Trader Senorita's Avatar
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    There is no special kind of luck in forex and in this business don't expect that been lucky will work well for you. There is no reason for you to think about becoming lucky here because a trader trading blindly will soon find himself loose his trading capital in forex before he realizes it. Luck should be avoided and we must know how to properly manage our trade so that we can make success when we trade good.

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