How to differentiate luck from skill in trades

zanzuk

เป็นสมาชิกตั้งแต่ Jan 04, 2012 43 โพสต์

Dec 07, 2013 at 09:13

เป็นสมาชิกตั้งแต่ Jan 04, 2012 43 โพสต์

Guys how can we differentiate between luck from skill?
My friend said its the consistency.more trades is meant we can see whether
Its pure luck or skill.
So the question is that what my demo account can be considered as?
Is it a luck or is it a skill?

If you say its luck,i have won quite some trades consistenly.
If you say its skill,i have buste my accounts many times.

CasholeLTD

เป็นสมาชิกตั้งแต่ Nov 23, 2013 23 โพสต์

Dec 07, 2013 at 14:54

เป็นสมาชิกตั้งแต่ Nov 23, 2013 23 โพสต์

Unfortunately it's hard to say either way when trading on a demo account. Demo don't have any of the factors that effect a real account.

The best way to tell "skill" as you call it is to look at a number of factors, consistent profits with low drawdown (under 5%, 10% max) will show a good trader.

If you don't have time to trade, let us do it for you!

forexci

เป็นสมาชิกตั้งแต่ Nov 20, 2013 7 โพสต์

Dec 10, 2013 at 11:26

เป็นสมาชิกตั้งแต่ Nov 20, 2013 7 โพสต์

CasholeLTD posted:
Unfortunately it's hard to say either way when trading on a demo account. Demo don't have any of the factors that effect a real account.

For sure I agree, but I think some demo contests can give you some inkling - even some simulated real-world experience - about the factors influencing successful (or otherwise) real account trading. Contests here at myfxbook, for example, and also forexrazor (which seem focused on drawdown, some would say obsessively so).

Luck v. Skill - I think you can lose more of your money through lack of skill, but I also think you make real money on trading when you trade (successfully) at dollar volume.

http://www.flickr.com/photos/111134236@N06/11305271746/

I Think, Therefore I'm Guessing

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