Luck is important in our life but as a trader's career is concerned luck has no meaning in traders survival in Forex. The market doesn't know who we are from where we belong too, to know each other trader and market must know each other and the only thing which is very helpful is knowledge and passion for it. The market has opportunities which we as a trader has to know which gate opens and how and that can be accomplished as we have keys to open and enter.
The Forex market is somewhat similar to a casino. Beginners are lucky. In terms of trade as well. Your first random earnings. Then the second one. And now you’re already losing your head, you consider yourself lucky, you have gamble awakening. Then the first negative trade. You are confused how this could have happened. Then the second one and anger appears, the control over emotions is lost. And the gamble is growing. You want to recoup, return your capital. The same is in the casino. Forex is gamble. And you need to approach it wisely and with a cold head.
Yep, some people really got lucky for some time and then they really start to move on with that like they really need it absolutely and possibly. While some next their steps will not guarantee basically anything out there, be carefull.
Trust me, luck is important for some people. Take this example. This is a simplified version of forex. Thee is a graph and in it is a curve that keep rising and dropping. All that you do is determine the direction that the curve will go whuch is either up or down. You also predict a point that the graph will not fall below and thats it. Tell me if no luck is required in that.
To believe in luck as a trader is a fatal fantasy over the long term. The FX market is not random like the ball on a casino roulette wheel. Do any of you really think the Big Boy Bankers who trade billions of dollars in the FX market are just gambling on red or black?
You have to study and learn what methods the Big Boys use to manipulate the market so that they make money and 90% of retail traders who believe in an EA or luck simply fall by the wayside.
I hate to see these kind of threads because they perpetuate the myths that Bankers are simply running a casino based on customers who believe in luck. Even in casinos, there are some bettors who do better than average based on their skill at poker or Twenty One.
Stop using 'luck' as a crutch for losses that bust out your account. Do something to learn how the Big Boys talk to each other using mathematics and standard patterns. You CAN learn the language of trading.
Luck is important - but it shouldn't be something you put your hopes and money on. you also have to have at least basic understanding how market works and experience. Sometimes it looks like luck - but behind that 'luck' is a lot of hours of learning and mistakes.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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