chongjasmine
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What is trading more associated with? Is trading about skill, or is it about luck? What do you think?
Skill or luck?
- Thread starter chongjasmine
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Quantt
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If you are to survive long term, definitely a skill is needed...
Quantt
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This is very well said...
timsk
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Yes, probability is important, but the key thing is to have an edge. That's what separates the winners from the losers. Think of a roulette wheel. The casino's edge is the white zero slot: that's what ensures they make good money over time. The result of any one spin of the wheel is luck which, occasionally, favours the punter. Over time though, the punter will lose all their money to the casino.
Tim.
counter_violent
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timsk
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Given the legion of evidence that overwhelmingly supports my viewpoint that's accumulated while Jon's been away, I have every confidence that he will have done a u-turn on his previously held position, much as I did back in the heady days of Brexit - when I went from taking the pi$$ out of hard line brexiteers like you - to becoming a staunch advocate of leaving the EU.
😉
AriaS
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Of course it is about skill. Luck is when you have to guess between 2 equally possible options. But in trading,
thousands of ticks separate you from your goal. Each tick has 3 possible options. Sequences of thousands of ticks form visible patterns that you can base your decisions upon. If each tick moved randomally, I don't think trends would ever form...
thousands of ticks separate you from your goal. Each tick has 3 possible options. Sequences of thousands of ticks form visible patterns that you can base your decisions upon. If each tick moved randomally, I don't think trends would ever form...
FranziskaSchulz
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In gambeling (playing roulette) for example all you need is to be lucky! do you need any kind of knowledgge? OF COURSE NOT.
but in the forex I think 80% is up to you, the way you analyze, the way that you react to different losses or even profits and ... the rest 20% is out of your control (major news for example)
So generally I think you can't compare them at all!
ThaddeusFinch
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In my opinion, trading is initially associated with skill, while luck can play a role in that. As can be seen, it is clear that successful traders have spent a lot of time and effort acquiring knowledge about financial markets, technical analysis, and other related topics.
In Forex trading, success is influenced by a combination of skill and luck, but skill plays a predominant role. Skill encompasses knowledge of market analysis, risk management, and disciplined execution of trading strategies. Traders with expertise in technical and fundamental analysis are better equipped to make informed decisions, reducing reliance on chance. Luck, on the other hand, may occasionally influence short-term outcomes, but it's unreliable for consistent profitability. Experienced traders mitigate luck's impact through thorough research, strategy development, and continuous learning. Ultimately, long-term success in Forex trading relies heavily on skillful analysis, disciplined execution, and effective risk management.
