No one should depend upon luck

No one should depend upon luck in trading. You can be fortunate one or a couple of times. Regardless, You genuinely do need to understand what you're doing. It's the unfaltering work that finally pays off. If you do reliable work in right way, you will get accomplishment.

Professional trading is never possible depending on luck. If you want to trade, you must work with a positive mindset according to discipline.

Forex, the market is not a place where you need to rely only on luck, luck is personal, definitely a small percentage of what affects your trading and goal achievement.

Luck is of course good. But this will hardly help you in trading on the stock exchange. You may get some profitable trades, but in the end, the loss of your deposit is guaranteed.

I don't think luck has any place in trading. I also think you make your own luck in life.

Teodor2345 posted:
Luck is of course good. But this will hardly help you in trading on the stock exchange. You may get some profitable trades, but in the end, the loss of your deposit is guaranteed.

Right. Trading with luck is kind of gambling which has no future in trading.

The main technique to become successful in the forex market is to select a good broker and make a good trading strategy.

forex trading is all about how much you understand the market and how well you are able to analyse the charts. no luck game here.

Diego99 posted:
forex trading is all about how much you understand the market and how well you are able to analyse the charts. no luck game here.

 I agree. Its all about how much hard work one puts in, luck is just psychological.

There is nothing like luck in forex trading. Your luck can help you sometimes but not all the time. You have to have knowledge and know strategies to make the most of the market.

Luck stands nowhere when you are trading forex. It is all about the efforts you put and the decisions you make. You cannot always be lucky to make money in the market.

You only need to depend on your knowledge, skills and practice, and luck is an auxiliary point that sometimes appears in trading.

But luck does play an important role in trading and some traders choose to believe in it. Even if not entirely but for some part, they do believe in it.

To rely on luck or not, this is the choice of every trader, if this is more convenient and reliable, then why not take advantage of this moment

Yes, luck is just a factor and not all trading depends on it. A trader has to work very hard in order to be successful.

KnowFinance posted:
Luck might work somewhere at some point of time, but knowledge and skills will work every time.

Truly said brother. What most of the traders don’t realize is that a sporadic strategy won’t work here in the name of luck. On the contrary, what they should be doing is investing time in planning a strategy that would help them make some profit despite closing the trade with some losses. It’ll be a well planned out strategy that will help them invest in the right trades and right market condition.

Richarlison872 posted:

KnowFinance posted:
Luck might work somewhere at some point of time, but knowledge and skills will work every time.

Truly said brother. What most of the traders don’t realize is that a sporadic strategy won’t work here in the name of luck. On the contrary, what they should be doing is investing time in planning a strategy that would help them make some profit despite closing the trade with some losses. It’ll be a well planned out strategy that will help them invest in the right trades and right market condition.

Agreed and I personally have come across many traders who usually get confused by looking at the charts. Call it their inexperience or the lack of practice, but they don’t understand that a buying opportunity in a weekly chart can be shown up as a selling signal in the intraday. What they’ll learn with practice is that in case a weekly chart is displaying a buy signal, a good trader should wait until the intraday also confirms the same.

Numeromatt posted:

Richarlison872 posted:

KnowFinance posted:
Luck might work somewhere at some point of time, but knowledge and skills will work every time.

Truly said brother. What most of the traders don’t realize is that a sporadic strategy won’t work here in the name of luck. On the contrary, what they should be doing is investing time in planning a strategy that would help them make some profit despite closing the trade with some losses. It’ll be a well planned out strategy that will help them invest in the right trades and right market condition.

Agreed and I personally have come across many traders who usually get confused by looking at the charts. Call it their inexperience or the lack of practice, but they don’t understand that a buying opportunity in a weekly chart can be shown up as a selling signal in the intraday. What they’ll learn with practice is that in case a weekly chart is displaying a buy signal, a good trader should wait until the intraday also confirms the same.

I believe the knowledge and skills can be developed with the help of brokers like Avatrade, FXTM, and Fxview who offer the traders with demo accounts and platforms to practice and test drive their trading skills and strategies. What the traders have to ensure is that the brokers and platforms fit well with their strategies. For instance, you have to ensure that the broker has platforms that can draw Fibonacci lines in case you wish to trade the Fibonacci numbers.

Forex trading is not something you can do by depending solely on luck.