Never depend on Luck in trading

[mumuy]

Some traders like to trade with their luck rather analyzing the market. But may be sometime they get profit but most of the time they become loser. So we should become more skillful and depend on our hard work rather luck. Since, Forex is not like gambling so trader cannot depend on his luck. Forex is a business where trader needs to depend on his skill. The more you will be skillful the more you will make more .So trader have to learn and practice more and more to develop his skill.

Almost all the traders have had their share of beginner’s luck. At first, I still remember I earned 652 USD from a demo account within 7 hours but after maybe a couple of days you get to see the darker side. Sometimes you have to wait for days to get profit. Luck plays a major part in your trades. The market is so unpredictable that it can change drastically without any prior indication.

Most of the time in negative direction depending on luck is like shooting in the dark. Sometimes you will hit the bull's eye and sometimes you may take out a collateral damage. Luck may take on its dark side once in a while but most of time your skills and analysis will help you through your journey. Trades which are based upon proper study and judgment can barely go wrong. So, it’s a bad idea to always depend on luck. Remember folks we are not in a casino.

 

[gerski]

Hi nice post and a nice advice.I am a beginner and i will surely bare that in mind.

 

[Master Forex IB]

We can be lucky some times when market moves to our favor for much profits ,. It is not right way of trading to depend just on luckin forex trading. Luck works if we do work hard. we make our luch by self efforts that are valuable in every situation . Forex is not a gambling it is a serious business .

 

[mr bean]

yes. do not depend on lucky ! but sometime we must have ma little lucky to win ! do it by your self you will win in this market

 

[Agnnis bingamin]

Very true, just depending on your luck is like testing your luck and going to wrong track which leads to loss. I think luck does matters but only 10% rest 90% is all our hardwork.

 

[mumuy]

Since luck is associated with gambling or in any game of change. Unlike in Forex trading it depends on your strategy and execution.

 

[David Train]

But you never should forget, that no matter how good was done your technical or fundamental analysis, i may still do not work. And now goes your luck!

 

[Emibluz]

I never depend on luck; rather I am I rely on calculated market analysis, tested and proven strategies...and best of all I am diligent. I don't sit back and expect luck to land pips on my idle laps- neither do I expect my broker (because of his regulation) to win me pips generously without monitoring him; if I do so, I help him to help bankrupt me. This critical diligence of mine has helped me trade with offshore brokers: guess what? They could be more lucrative than their renowned EU/US regulated brokers. I particularly like their flexibility and their competitive services. I could even boldly advise you try them!