Skill vs. luck in Forex trading

How is Forex trading like (skill vs. luck)

  • 10 (like chess)

    Votes: 13 32.5%
  • 9

    Votes: 2 5.0%
  • 8

    Votes: 8 20.0%
  • 7

    Votes: 5 12.5%
  • 6

    Votes: 2 5.0%
  • 5

    Votes: 1 2.5%
  • 4

    Votes: 1 2.5%
  • 3

    Votes: 1 2.5%
  • 2

    Votes: 1 2.5%
  • 1 (like slots)

    Votes: 6 15.0%

  • Total voters
    40

verbum4it

Junior member
32 1
A forex trader should have some basic knowledge and skill in his trading activity, do not think about lucky factor in trading forex. Trading forex is a rational activity.
 
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kwickwool

Well-known member
291 30
Ultimately it is all about statistics and probabilities and finding areas of higher probability of determining price action as apposed to flipping a coin. Doing this using whatever means you can however you can, and statistically over time that breaks down to skill and not luck, the numbers dictate that.

Take newtons law as in if you kick a ball it moves, if you don't kick it, it does not move. The same is for price movement, it moves for a reason at a certain time quite often with a certain pattern, and simply put that is what this is all about.

But how you go about all that is how skilful you are as a trader, and there are no excuses for failure apart from you were not skilled enough in your understanding of every dynamic and perspective you need to be profitable and you will get chewed up and spat out if not.

As said before by myself but cannot take credit for the statement, "it is the hardest way to make the easiest of living……."

The game of the gods, you against the markets, and thats why we all love it!

kwickwool
 
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Splitlink

Legendary member
10,850 1,234
A famous trader mentioned that he found that the more he concentrated in getting better at trading, the luckier he got.

But, isn't that the same with all forms of business.? One is in the right place at the right time. Some corner shops become gold mines, others fail or, at best, struggle along.
 

Joseph99

Junior member
30 4
I think luck depends on your skills. If you have skills and work hard then luck will automatically favor you.
 

Pat494

Legendary member
14,617 1,581
So many newbies land in this trap of having a big win at the start of their careers which was due to beginner's luck rather than skill. Then under the delusion of being an ace trader they lose the lot.
OOOOOOOOOOOOOOOOOPS !
 

Nowler

Experienced member
1,538 232
So many newbies land in this trap of having a big win at the start of their careers which was due to beginner's luck rather than skill. Then under the delusion of being an ace trader they lose the lot.
OOOOOOOOOOOOOOOOOPS !

I'm guilty of that.
Fortunately I only lost 68%...
Unfortunately... I lost 68%

I made 20% one week, 20% the next, 11% the following... and then lost it all plus the 68% in the weeks that came after :)
 

sunnyday

Junior member
41 7
I think it could be both. You could never know if it was your luck or your skill that made it happen.
 

Pat494

Legendary member
14,617 1,581
Luck tends to be short lived and soon runs out.
Skill will keep profitable even in difficult times.
 

Henow1969

Well-known member
312 41
I think Forex is a real business and we can not succeed in if we have no skills and knowledge about it. If we try to make good results then skill is necessary. You should follow the rules of Forex to be succeed.
 
 
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