Skill vs. luck in Forex trading

Hi James, i’m not saying this to argue, i’m just saying it to offer another point of view.
Now here are the questions i would raise on this comment

BLESSED… By Who ? God perhaps.
if so then we need to ask,

  • would god approve of this to give his blessing
  • does god exist to begin with and even if he did, he probably wouldn’t give his blessing on forex.

Now. Moving forward, let’s say you were TRULY BLESSED
so… Not Lucky, but BLESSED WITH LUCK
ok… so why then would you not be lucky all the time ?

My point here is, You can’t say someone CAN BE BLESSED WITH LUCK but yet only have luck sometimes
that’s like saying a person is a blessed runner and yet only wins a race here and there… that’s not right.

Ultimately , i don’t agree that luck exists, and overall i agree with your comment that if we are going to discuss luck as a real thing, well then. i agree, i doesn’t happen all the time

My point merely was, i think this sentence that you wrote is really wrong and i just wanted to point it out IN A NICE WAY … OF COURSE hehe :stuck_out_tongue:
Be Cool
Merry Xmas

Actually , there is nobody who can predict the real faction of this market with certainly in spite of having good knowledge and experience , that’s why sometimes of course we the traders have to depend on our luck but maturely not at random.

Lol. Depending on luck is a part of emotions nothing without it. It could be dangerous of course.

Luck is not the only factor to depend on, you need to learn about the Forex Market and also you need have proper practice to ensure your success in the same. Luck wouldn’t ensure your success alone, you should also have skills to become successful.

You missed my point, I said sometimes we have to, that means not for all time we need to depend on luck. Sometimes we can’t predict anything by our trading skill , then we have to move on others.

I got your point exactly, but still I am not agreeing with you. I know the volatile nature of this market place , yes it is quite difficult to survive when market move at random but if we depend on luck in that time of course we could fall a great loss.

Yeah, I totally get your point and I agree to you that sometimes, we need to depend on luck. But if we gain some good amount of knowledge, we could predict it maximum number of time. Experiences makes our trading quite better and it helps us to reduce our dependence of Luck.

Just like poker, the outcome of any one bet cannot be relied upon, but with knowledge, experience and a great mind, there is no reason why the luck cannot be aligned on your side. :slight_smile:

Without knowledge, the greatest run of luck ever, cannot save you from losing eventually - just like poker.

The same people win consistently - Just like poker.

https://www.cardschat.com/top-10-poker-players.php

Exactly, our good knowledge and experience always helps not to depend on luck mostly times . but sometime market moves at random and we can’t predict something , in that time there is no way to trade without depending on luck.

Luck doesn’t work in Forex. Skill is the only thing you can use to succeed. Trading is a chess game. A game of wits.

A lucky skill is needed in Forex ). The main thing in forex is always knowledge and ability to use this knowledge. And then you can tell everyone that this is luck.:sunglasses:

I never believed in luck ! That’s why I have always been guided only by knowledge and experience :green_book:.

Skill versus luck, of course still better skill, lucky in forex trading is number second but skill is very important which this is included the trader already having good knowledge and also experience, relying with lucky will never stand for long time

Only fools rely on luck in forex. I relied on luck about 10 years ago when I was just starting to learn forex. But when I lost my first $ 100, I decided not to take any more risks :wink:
So my friends, it’s time to learn forex.

forex trading is like speed chess! there is no luck involved! in fact there is no such thing even as luck.
Luck: that which happens by chance. if you think anything happens by chance, did you miss the lesson on cause and effect? nothing is random, just because you are ignorant of the underlying forces controlling something doesnt mean they dont exist.

its very easy to maintain control over the market, most of you trade mostly against yourselves every day! 95% of all losses are the result of a “stop loss”: order LOL!

why anyone who place an order to realize a loss remains quite shocking still after all these years!

Here we go again…

Hmmm… tell that to the CFD trader who lost 3,200,000,000.00

The zeros are not a mistake, the absence of a SL (exit strategy when wrong) was the mistake.

He commented “I was a fool”.

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ohhh - who is this mysterious man! (you commented ‘he’ - not being sexiest [for once])

Was that a notional loss, or did he really have the money to back it up ?

[Edit - Even Nick Leeson was not in that league - when he took Barings Bank down ! - That HAS to be an “Urban myth” ]