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Thread: Luck or skill?

  1. #51
    Quote Originally Posted by sebastiano View Post
    Thank you Mehmet83 for sharing this. It is a quite an interesting case. I guess it has to do with both luck and skill. I think that the most effective thing here is that your friend keeps his trading simple. Yes, he needs to learn a bit more about the trading matter and perhaps develop his strategy but if all the mentioned steps are working then good for him. Although I was quite surprised that he didn't know that the trades can go short and that candlesticks existed But I admire his courage and his intuition. After all people who trust their gut usually succeed.
    Hello sebastiano,

    I absolutely agree with you, its a bizarre case. by the way after I told him he can also trade short not only long, he has made good profits from it and recently thanked me very much :-) he now also considers the news before placing trades. Like you said I think the key to his success is keeping trading simple and believing his strategy with a very strong mind set.

  2. #52
    Join Date
    Jul 2013
    Posts
    2,540
    Quote Originally Posted by Mehmet83 View Post
    I received numerous PM before and was accused of lying and attention seeking

    Well, sometimes things that appear "mysterious" at first glance make complete sense when you simply examine all the observed facts dispassionately, so let's see whether doing that makes sense of this "strange" case? ...

    (i) Your friend is 18 years old
    (ii) His results are fantastic (and I'm using the word in its literal sense of "fantasy")
    (iii) He didn't know that you can trade short as well as long, but in spite of that ...
    (iv) He's working for a hedge-fund ...

    And most importantly of all ...

    (v) You were at one point openly soliciting private messages for further information (though apparently you've now edited a post or two to remove that part)

    To me, that all adds up to a pretty coherent picture.

    The surprising thing, from my perspective, is that the moderators haven't done anything about it. Yet.

  3. #53
    Quote Originally Posted by lexys View Post
    Well, sometimes things that appear "mysterious" at first glance make complete sense when you simply examine all the observed facts dispassionately, so let's see whether doing that makes sense of this "strange" case? ...

    (i) Your friend is 18 years old
    (ii) His results are fantastic (and I'm using the word in its literal sense of "fantasy")
    (iii) He didn't know that you can trade short as well as long, but in spite of that ...
    (iv) He's working for a hedge-fund ...

    And most importantly of all ...

    (v) You were at one point openly soliciting private messages for further information (though apparently you've now edited a post or two to remove that part)

    To me, that all adds up to a pretty coherent picture.

    The surprising thing, from my perspective, is that the moderators haven't done anything about it. Yet.
    Hello Lexy, Hope you are doing well, On a separate note, Thank you for your contribution not only on this thread but other threads too as I have learnt valuable information from you.

    Coming back to your post, l don't understand why moderators should take any action since I only shared my story and wanted to hear other traders opinions? is this against the site rules? I've not once promoted anything or offered any services and have no intentions either.

    After witnessing Michael’s success my primary objection was to understand how Michael was so successful as I was boiling to enter the markets myself but I knew that if I lost my investment it would have hurt me whereas for Michael it didn’t really matter. I am really glad that I created this post as people pointed out that Michael's story is a mix of luck and skill, at this point I decided to hold back and go through the pip school and create my own strategies with tight risk management.
    By the way.

    by the way, I only edit my post to correct my grammar ;-)


    Good luck

  4. #54
    Join Date
    Oct 2016
    Location
    Canada
    Posts
    72
    Quote Originally Posted by Api View Post
    Never get yourself affected by those theory or you'll get yourself filled with greed. In fact, skill is the most important thing in forex trading. And so, luck is not avoidable but you can't depend on it too much.
    And when greed affects the way a trader places his trades, he is bound to lose.

  5. #55
    Join Date
    Nov 2016
    Posts
    1
    Anecdotal reference. My most profitable trades were those not using candlesticks.
    I guess luck can beat strategy.
    My worst times have always been because of greed.
    What I must learn is never greed. Trade going as planned? good. Dont try to push it more. There was a reason you set a take profit, dont try to open a new trade just because the other one is doing good!

  6. #56
    Join Date
    Jan 2017
    Location
    Chile
    Posts
    4
    Quote Originally Posted by Triftex View Post
    Anecdotal reference. My most profitable trades were those not using candlesticks.
    I guess luck can beat strategy.
    My worst times have always been because of greed.
    What I must learn is never greed. Trade going as planned? good. Dont try to push it more. There was a reason you set a take profit, dont try to open a new trade just because the other one is doing good!

    I agree with you about greed, it always ends by closing a door. But I do not think that luck outweighs the strategy, there are good spins and bad spins, just that.

  7. #57
    Join Date
    Dec 2015
    Posts
    381
    Quote Originally Posted by Triftex View Post
    Anecdotal reference. My most profitable trades were those not using candlesticks.
    I guess luck can beat strategy.
    My worst times have always been because of greed.
    What I must learn is never greed. Trade going as planned? good. Dont try to push it more. There was a reason you set a take profit, dont try to open a new trade just because the other one is doing good!
    What do you use if you don't use candlesticks?

  8. #58
    Join Date
    Apr 2017
    Posts
    5
    If after 5 years you are still trading than probably it is not luck. THe key is to attain a meaningful trading capital. Either you can apply for a position at a prop trading company or start to manage a portfolio at a licensed company.

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