Luck or Hard Work?

The Forex market is not gambling. When you gamble you need luck but when you trade forex you have to do a lot of hard work. You can not just trade on the basis of your luck only.

I think traders need both in terms of profit and survival.

There is no place for luck. Traders can achieve this with their hard work.

Trading is not a quick and easy way to get rich as many beginners believe. It takes a lot of time to learn and I believe a significant amount of demo trading is also a necessity, meaning that we have to give a considerable amount of our time to it before we even have the chance to make profit. I often wish other traders luck but don’t believe luck really has anything to do with it, as things are based more on evidence.

Agree with you on this!

HeavLeighGill26 posted:
Trading is not a quick and easy way to get rich as many beginners believe. It takes a lot of time to learn and I believe a significant amount of demo trading is also a necessity, meaning that we have to give a considerable amount of our time to it before we even have the chance to make profit. I often wish other traders luck but don’t believe luck really has anything to do with it, as things are based more on evidence.

You are absolutely right.

Hard work and luck go hand in hand. May be your destiny/luck says that you'll achieve things be working hard only?

I believe that luck can work for a few days while hard work will take to greater heights in forex.

@HeavenLeighGill I am with you on this , many traders step into forex with partial or no knowledge and most of them are influenced by their friends or youtube channels . I think people should treat forex as a real deal and a serious business, instead of just executing the trade for the sake of it. They should learn how to do a risk assessment and money management. It's not luck but their hard work that would make them a successful trader

Definitely agree hard work is key and you make your own luck. The more times you put yourself in front of a trade and do the right things the more success you will have and the more 'lucky' you will seem to everyone else

Luck doesn't work all the time. It can work few times but not in all the trades one opens. That's why skills and knowledge important.

As for trading activity, then here matters exceptionally hard work. There is a bit of luck, but I try tnot to think about luck, because trading which is based on luck is gambling, but not trading activity. So, if you don't want to associate trading with gamblling, then you have to forget about luck at all. Only hard work can help you to reach your goals in trading and earn money of course. In my opinion, those traders who always rely on luck can never be successful, because trading is based on luck can't be called a science.

Trading activity doesn't imply any kind of luck, because everything that happens with the makrte is a strong tendency or the pattern. The market is affected by the situations with world and domestic economies, thus there is no luck at all.
I would advice beginning traders not to rely on luck in trading because it always leads to unpleasant consequences such as gambling. Trading activity shouldn't be turned into a gamble, because only your skills, knowledge and experience matter here a lot. Everything depends on your and you hardworking.

100% it comes down to hard work. Luck hasn't got anything to do with it.

GraceGilm posted:
You should not rely on luck for a long time, since we all know that only beginners are lucky, and even then not for everyone, and even then not for long!

I agree with you, luck doesn't works everytime, it is only the knowledge which will help you in forex to succeed.

skihav posted:
Only hard work. This is the real and only path to success in this industry.

Besides hard work. you also need some luck to get success.

If you win, then all the credit goes to hard work. Trading is purely the result of the knowledge of your analysis and risk management. Keep learning and trading!

LucianVince posted:
If you win, then all the credit goes to hard work. Trading is purely the result of the knowledge of your analysis and risk management. Keep learning and trading!

Exactly, if the trader succeeds, it is based on his hard work. Success is never achieved by relying on luck.

There is nothing such thing like luck, luck is a shadow of hardwork. Just like for a shadow you need source of light in the same way for luck you need hard work.