Skill vs. luck in Forex trading - Page 3

View Poll Results: How is Forex trading like (skill vs. luck)

Voters
23. You may not vote on this poll
  • 10 (like chess)

    5 21.74%
  • 9

    3 13.04%
  • 8

    6 26.09%
  • 7

    3 13.04%
  • 6

    2 8.70%
  • 5

    1 4.35%
  • 4

    1 4.35%
  • 3

    1 4.35%
  • 2

    0 0%
  • 1 (like slots)

    1 4.35%
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Results 21 to 30 of 35
  1. #21
    Join Date
    Oct 2016
    Location
    Devon, UK
    Posts
    320
    Skill is all you need. But most don't last long enough to acquire it.

    If luck was important, the success rate would be better than the miserable 10% it stands at. Assuming a mixed group of people must be equally prone to good luck as much as bad, the success rate should be near 50%.

  2. #22
    Join Date
    Dec 2016
    Location
    Australia
    Posts
    95
    Quote Originally Posted by tommor View Post
    If luck was important, the success rate would be better than the miserable 10% it stands at. Assuming a mixed group of people must be equally prone to good luck as much as bad, the success rate should be near 50%.
    Using the same 50% win lose equally prone success rate.... A mixed group of Brokers win 90% of the pool as only 10% of miserable retail traders are supposedly making a profit.... very, very lucky indeed....

    For the Brokers.....
    Last edited by BabyPips_001; 02-22-2017 at 06:14 PM.

  3. #23
    Join Date
    Jul 2016
    Location
    India
    Posts
    126
    I like to rely on skill more than luck, though both factor affects the Forex Market, but working with skills, can earn you better than relying on luck.

  4. #24
    Join Date
    Nov 2011
    Posts
    394
    Yes skill is much important than luck . Luck matters some time when we win more than our expectations but we can not just rely on Luck. We can depend on our skill any time when are going to trade because it is real thing that works for us.

  5. #25
    Join Date
    Sep 2016
    Location
    Kuala Lumpur
    Posts
    64
    Oooh my.
    I rely on my skills mainly, but if there would be some luck... why not?

  6. #26
    Join Date
    Jul 2016
    Location
    India
    Posts
    126
    There are many types of trading, but I think to rely on luck will be a very bad decision.

  7. #27
    Join Date
    Feb 2017
    Posts
    16
    Quote Originally Posted by mlawson71 View Post
    I think it’s somewhere between 7 and 8. You need a lot of skill and knowledge to be successful, and just a little bit of luck so you don’t get caught in random spike and whipsaw events. Still, luck is not something a trader should or can rely on.

    I agree with you! Forex is a game of skill and practice. Though luck is an invincible factor but we cannot rely on luck in trading. Traders can be successful only by acquiring knowledge and applying that knowledge to predict the market movements with a proper trading plan.

  8. #28
    Join Date
    Mar 2017
    Posts
    8
    Only skills and knowledge can help you to be successful in trading. Luck does not allow you to make consistent profit and you can not always depend on luck. So getting some knowledge will be helpful.

  9. #29
    Join Date
    Dec 2015
    Posts
    476
    Quote Originally Posted by Worty1992 View Post
    Only skills and knowledge can help you to be successful in trading. Luck does not allow you to make consistent profit and you can not always depend on luck. So getting some knowledge will be helpful.
    Becoming knowledgeable and experienced is not just helpful, it's vital if you want to be profitable. Luck, when it appears, is just an added bonus.

  10. #30
    Join Date
    Jun 2015
    Posts
    110
    There is no competition between luck and skill. Skill is good in all conditions as good or in bad market because we can handle it with skill. However we can not bring luck for us when we need it. Skill is very precious , it is key to success.

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