YouTube trading is mostly luck 
What do ninety five% of forex investors do wrong?
This list beneath is not the total list but it indicates a number of the matters ninety five% of foreign exchange traders do:
insufficient investment
lack of proper hazard management
over buying and selling
revenge trading
loss of emotional manipulate.
No endurance to attend for proper trading setups
no trading plan
get wealthy quick mentality
counting pips rather than specializing in account boom over a long term period.
Can not receive trading loses as part of the manner
Skill is better than luck in the Forex.
The question is: can you lose money in trading on purpose? the answer is yes. Therefore, it is a skilled game. However, skilled athletes, poker players etc tends to be more lucky than less skilled.
Yes agreed, low skill trader need to Polish up their skill in order to be more successful in trading. Alot lost cos they jump into real trading without enough skill n depend on luck. If that the case casino is much better option for them. Alot of them when lost they tend to turn into revenge trading…
forex market it’s a place where you should have knowladge about trading, and you porfit depend from your skill you rightin this, but i think we can not compare it with poker. How much time do you trade on forex? With which broker do you trade?
Forex trading is very much not a poker game. It does not rely on chance or luck, but on knowledge, experience and discipline. Relying on luck in trading does not lead to good results.
Forex Trading is a very risky and you cannot rely on luck, we need to have lots and lots of knowledge and experience and skills to survive in Forex market. There are many skills that is needed to be obtained and improved in order to survive in Forex Trading.
yes forex trading is not poker game. do you trade on forex? for example i trade with liteforex broker and i would like to try to trade with deveral brokers at the same time i think it can help me to get more knowladge about forex market
Forex Trading is everything else but Gamble. You need to understand that you cannot rely on the Luck, you could never rely on merely luck and survive in the risky market of Forex. SO you need to be utterly serious in the Forex Market to achieve success.
Luck and skills both having their own values with trading. I don’t know but sometimes luck also work but most of the times your skills are going to help you.e
Yeah, sometimes the luck works, but we cannot trade relying only on luck as if we do so, we would be just wasting our time and money as we need to have certain skills to rely on to trade with the Forex Trading and without it, we all would be just wasting our time in here.
Forex is a business of skills where luck do have some role to play too. As you would have seen, most of the professional traders, who have been trading in this market for years have learned trading and developed the required skills. No one is trading on luck which can only give a trader 50%-50% chance of winning their trades.
Yeah, skills will be required to do in Forex Trading and also the luck is required, but some traders do trades blindly relying mere on luck, say about 80% on luck and eventually fails, which means they only have 20% of skills and on the height of it they even don’t believe it that they are lacking the knowledge, which they need to learn.
On the scale from slots to chess, it fits in with other skill-based card games like poker, bridge, Magic the Gathering. Actually Magic is probably the best comparison since you can select your deck and build it before every match, much as a (good) trader plans and selects their trades.
I think there should be a proper balance between the skill and luck, if you really want to become a successful trader. Forex is a game of both skill and luck. They both are essentially, required to achieve success, and you never can rely on any single of them.
How you define luck? Luck is when preparation and timing meet together. So to make it short, you need skill most of the time when you trade, you need to know the economic fundamentals and other things that can affect your trade. I’ve been trading for many years and the first five years l am losing, I almost lost everything (including my family) but when I learn all the correlation (political, oil to currency, gold to USD/CAD/AUD, and etc) it start coming back and with big rewards. You need skills. If you always loss to a trade, why not try the opposite? Example: You trade XXX/YYY you set your SL to 50 pips and you were stopped out because your PT =200 pips — then do the opposite but you need to check your technical/charts to play this type of set-up.
emc
There’s no luck in successful trading. Luck wouldn’t have got you out of equity longs on 9/11 or when the Swiss national bank blew up the EUR/CHF in 2015 - that should have been technical analysis.
I disagree with you. There is luck in Forex that matters but not if you have a constant watch on the market like 24 hours, which is practically impossible. Suppose you come to trade and you find a good opportunity to trade, it will be your luck and suppose if you don’t come at that time you would have lose that opportunity.
It isn’t luck when you find an opportunity, it was looking in the right place for the right set-up with a good plan plus the capital and risk management rules to implement it and make a profit. All this should be known before the trade, and the only thing you couldn’t know would be the time: that’s not luck.
My first post! Yay.
I’d say it depends on your time frame and trading style. For me I’d say 7/10 I use technicals, market sentiment news and what feels right to me. The 3/10 because there are variables I just can’t account for.