Luck and hard work are both necessary in order to be successful in forex trading. While some people may believe that luck is the only thing needed, this is not the case. Trading forex successfully requires a great deal of hard work in order to learn the ropes and understand the market.
traderjakelong posted: Luck and hard work are both necessary in order to be successful in forex trading. While some people may believe that luck is the only thing needed, this is not the case. Trading forex successfully requires a great deal of hard work in order to learn the ropes and understand the market.
Well, I think luck works for a short period of time while hard work will always help in making the trading profitable.
Forex trading is all about hard work, discipline, and determination. Many people believe that success in forex trading comes down to luck, but this is not the truth. Forex traders who achieve great success all have one thing in common: hard work.
Sometimes you earn a profit and it’s not because of your analysis, charts, trends or any skill but only by chance. In that moment you may feel, ‘Wow! I got lucky’ but the difference is that it’s a ‘moment’ not your entire career. You can’t be lucky everyday but you can manage your losses well and increase your chances of winning if you work hard.
I think luck does have a role in your success but if you rely completely on luck, then you are turning blind eye to everything else. Luck doesn’t favor anybody forever but skills achieved through hard work will always help a trader to make informed decisions, even in the most unfavorable moments.
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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Past performance is not indicative of future results.