Profit from Forex Trading…. Is it Luck, Gambling, or Skill?

Super skeptical. I have a lot of friends that trade everyday, too busy to explain, and try to charge thousands of dollars to teach people. Scam artists. Well, I’m here to give it a shot and learn the basics. So many people are tying get rich quick stuff these days so mine as well take the bait and try it. Luckily I found this website to practice trading with fake money so I don’t blow my own cash right away. I’m pretty sure only about 3% of people that do this are successful and the rest are either breaking even annually or losing money. Is this gambling, pattern recognition, macro economics, luck, or just tedious bull$hit.
Going to find out.

Luck absurd, it would not be possible over the length of time because of commission s ,similar to roulette the 2:6% the house has on the zero

This business is perfect science and skill.
Beginners are very weak at first time. It is normal. Nobody born with strength in the market.
You should know that in the long run the influence of luck is zero.
You should have a tested plan, trust it, stick with it.
Then the result will follow naturally.

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You can’t plan to be lucky. If you ever have some good luck, you can’t stay lucky.

So maybe you are lucky 1 time in 100. But the rest of the time you are only as lucky as anyone else. Which means your win rate will be about 50%.

50% unless you are skilful. And skill is not luck.

Follow my progress here and you will realise by yourself it is skill. All the best in your journey.

its a very confusing question to answer. because skill most of the times works to fail after having good knowledge and experience.

The ability to profit from forex trading is entirely dependent on the knowledge and skills of the trader. You will die on route if you do not have any. Trading on luck and assuming it’s gambling isn’t the best strategy for a trader. Gain knowledge and experience to improve your luck.

Profit is the reward of good trading and this reward is achieved when a trader can generate a good signal and apply it in the market to make better return. Following others’ trades is not a good option for traders because it causes traders to lose.

Going blindly into a trade and winning? Luck and a gamble. Being profitable long term in forex? All down to skill and having a plan. You simply cannot win long term on luck.

At least your starting on demo.
Try to treat it as real capital.
You need to learn and apply a strategy that fits your own lifestyle.
Good luck :+1:

Forex trading is not luck or gambling at all. Your profits are dependent upon your trading skills and also on how efficiently you trade. To make profits you need a lot of knowledge, experience, skills, strategy, discipline, consistency, focus, and patience.

Well, to someone new, and who doesn’t know much, forex might seem to be a game of luck or even gambling. But it is not, because it is based on pure skill, knowledge, hard work, and education. If one lacks them, forex is essentially a game of luck or gambling.