Skill vs. luck in Forex trading

now thats what I like to see some charts or some equity charts or something.

what I don’t get, I can’t figure it out. The more I trade the luckier I get?!? Maybe I am just lucky because I am not using any stop losses?!? :slight_smile :Þ
I guess I need to start using some stop losses because that drawn down is killing me! and no stop losses is jacking my stats! look at that average loss, wonder if that is caused by no stop loss, hmm, prolly not related.

Well the GBPJPY has plummeted over the last 48 hours…losing 100+pips.

So I think it would be safe to say that Pepperstone’s Sentiment Meter represents zip…

All Yen shorts have been an absolute profit machine over the last 2 weeks…

Don’t say that out loud around here, you’ll be hung, drawn and quartered…:fearful:

EURMEX!..The size of the spread from Pepperstone & IC Markets would give me friction burn…

actually you do, if you want to, only thing the MM’s have is more money in their accounts, they are the ones who cause price to reverse where it does based on their LARGE piles of pending orders

No indeed. Of course we don’t. Realistically, retail traders don’t employ a research department full of PhD graduates earning big 6-figure salaries, which is why we need to select intelligently the basis on which we choose to compete with the top pro’s, and not be blind to the fact that when we trade, that IS exactly what we’re doing.

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sure we do its called Reuters Eikon, its only $99 a month

If you win on ar egular basis no doubt it is skill-but if you trade sometimes,try to catch an up or down move maybe a little bit news trading on the release, it is like betting soccer games livescore…

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Focus on the central banks for endless clues.

Oh God, I hope you didn’t mean it seriously? Hard to tell, sometimes, with the extraordinary things you say here.

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Now I DO actually know what @eddieb is referring to here and I agree with him 100% - He was lucky !

Yet I can see that you are convinced that there was no “Luck” involved !

ODD ! - But I know you are not stupid - Therefore one must assume there is another issue.

I think it is necessary to understand what you actually mean by “Luck” ?

Maybe we can get this thing sorted out if we understand ?

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I have a bad feeling that actually he did. :grimacing:

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As for me for everything you need to learn. It does not matter what you study chess or forex. It is always necessary to learn and improve your level.
But there is such a thing as unpredictability. The forex market has it in full. No matter how you learn, no matter how you develop a strategy, it will sooner or later fail. Because forex is very unpredictable. It is not known who is up there telling the market where to go.

As for me for everything you need to learn. It does not matter what you study - a game of chess or forex. It is always necessary to learn and improve your level.
But there is such a thing as unpredictability. The forex market has it in full. No matter how you learn, no matter how you develop a strategy, it will sooner or later fail. Because forex is very unpredictable. It is not known who is up there telling the market where to go.

We always emphasis to learn Forex to keep survive in a proper way , but in spite of having best learning sources trading can be useless if there is no regular practice session. So, besides learning we have to be continued in practice if we want to bring good result by means of Fx.

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its hard to get lucky if your undies are on too tight

yeah really if you dont pay attention to the long term fundamentals you’ll always lose in the long run :slight_smile:

I agree, the practice is also have great role. But only when you lost all your money during the practice. there is no longer any desire to trade at all.

I would also note that a well-developed intuition will help in trading. Or life experience. You can call it whatever you want.

It’s true, but any kind of losses always gives us a great lesion, if we can overcome from it of course maximal result will come out with certainly.

Luck in trading is certainly important, although you shouldn’t count on it all the time, as at any moment it can turn its back on you. It’s better to rely on your skills, they are permanent and more reliable.

This is called experience I think :slight_smile: