Topic: Beginners Luck in trading real or superstition - page 2. (Read 437 times)

Yea you are right most definitely, depending on luck alone in trading will end up sweeping your account and driving one to depression sooner than he should have gotten 😂  but on a lighter note you said " if I were a beginner I won't delve into trading without knowledge and just highly dependent on luck alone" honestly if you were one you might never know you just got lucky by your few wins in a trade. Trust me you you might call your neighbours for a drink for being a forex master already.

That was on a lighter note but I get your point absolutely

Trading in the cryptocurrency market is very complex due to its volatility; it’s not the same as trading on the stock market. Keep in mind that trading is one of the most complex jobs in the financial industry, requiring an average of 10 hours a day in front of the screen. No one becomes a trader overnight; it’s impossible. If you think you’re going to dedicate yourself to trading because you got good results in your first three trades, you will go bankrupt, just like the vast majority who want to get into this business.

definitely, even if the beginner is lucky and have this thing called "beginner luck" but if they don't do something to expand their knowledge the money will probably come back to market again through series of overly confident trades that results in losses.

beginner luck is just a bonus, moving forward, one can expect that it will require tremendous experience and knowledge about trading.
if I were beginner, i won't delve into trading without knowledge and just highly dependant on luck alone, it won't sustain and the long term result is almost certain that it will result in loss.
the thing with trading is that, there are many manipulation so luck just doesn't cut it, especially if you trade low cap shit coin.

Well, somehow we can say it a beginner luck though, because I would say it happened because the trader had the opportunity to witnessing a good trading weeks and months that went in favour, however lucky isn't the major thing when it comes to trading but the knowledge and the experience you have gathered over the past months and years of trading and you have concluded to discipline yourself and follow trading rules to trade successfully and not luckily.

If it's real for you because you have experienced it, then most likely other traders as well have been there also. Just like in gambling, beginner's luck is real, same as with trading.  But we should not forget that in trading, there's more to losses than gains if you are still learning the process, but with time that makes you an experienced and skillful trader, I believe any trader will come to minimize their losses and maximize their gains. And that's how successful traders are.

Yea Exactly, newbies can be carried away by the said "Luck" if they don't study well as to be good with what ever strategy they picked from their tutor. They should equally be made to understand that loosing a few trades is not the end of the world and it doesn't also show that they are bad traders also wining a few trades initially doesn't gurantee they are good traders yet.With that in their mind, they will get prepared mentally to embrace the experience  they encounter  at the course of their trading.

How did you handle your first wins when you started your trading journey?

Also depends on what kind of trading that they are dealing into on which we do know that there would really be those short term trader or investors and to those people who do make out some long positions or long term holds. So it would really be something that situational into this aspect on which it would really be basing up on what are the intents or plans that you do have in mind when you do deal up with this crypto space.Begginners luck is something which is really that could happen not only on trading but also in other things in life as well on which as long it do involves choices and decisions then this would really be something relevant. As for superstitions and other application of some correlated things then i dont really see this for it to be relevant. The  thing on here on which as an individual then you do really know on what you are really that gonna deal up with and make out those realistic approach and reactions in towards those things that you are really that involving into.Just dont make yourself expectations too high or making that optimism to be on high range.

Wouldn't it depend on the timing* I mean if a beginner begins at bear period they may lose a lot of money and not be lucky, but if they start right before the bull run then they may get lucky and make some money from it as well. I understand we are going to end up with a different result, I know it is going to be different, but in the end we are talking about a profit that would not be a bad move at all.

I understand a lot of people ended up being wrong about movements and directions when they are newbies, but a lot of people also got hyped during bull period and got involved for the first time and made a lot of money as well. This is why we should be considering this as normal and not a big reaction at all, it could be real.

The luck that beginners get cannot be used as a reference that they will be able to repeat when they will try it again, as beginners of course they have to continue to learn trading if they don't want to lose their money on the trades they do because they don't understand trading and also we have seen those who have experience even though they can still experience failures when trading so As beginners, of course, they must continue to learn trading in order to get good results when trading.
Yes, you are right in terms of luck certainly not everyone has the same luck when they first try it, so for anyone who wants to start trading of course they have to study well so as not to lose their money while trading.

Beginners' luck only seems real because the getting lucky in the beginning isn't exactly tabulated/shared lol. I'd imagine there's a bunch of people out there that have lost all (or majority) of their early trades and with that, I don't think they'd be of mind to actually share it, so people think the one that IS shared is real. It's basically biased info imo. Look up survivorship bias, it's a pretty extreme sample but it was what I always thought of whenever scenarios like this pop up.

Well...beginners Luck is nothing so out of the box, it's not really a huge money most of the time, it might be a few dollars hear and there, he was just at the right side of the market at the right time, he won't stay humble to understand  the market so that he can be more intentional about his trades.. boom! he will face reality that will humble him.

I will tell him "If you think trading is easy then you just started trading for 5 minutes"  dude will have to wear a puppy face in humility and self pity

Those beginners can have their lucky in their beginning trading. But if they don't want to learn and still think they can be luck for more, they will start to lose the chance to make a profit. Only with learning more about trading that can gives them a way to improve their skills. Those beginners must avoids over confident in anything because that can makes them forget that everything will change so without learning more, they will not adapt to the situation.

I guess I am not that lucky like other beginners but I made some nice profit in the past. I realize that learning trading is a must thing to do if I want to have a good skill in analyzing the market. But to be called real or superstition, I guess that will depend on their luck. If they willing to spend some time to learn and not stop, they will be a pro trader which have a good skill.

I think it is superstition. If beginner’s luck was a real thing, we would see all the beginners having it but we don’t. The majority of the newbie traders lose their money to the market makers but we usually don’t hear about them. When one of them makes huge money by luck, he makes it to the news. Does this dude have beginner’s luck now? I think it is just luck. Beginner’s luck is a myth, a lie. It is a conspiracy theory on mathematics. Stay with science, don’t believe these fairy tales.

I think it's just superstition, I've seen a greedy beginner got liquidated into oblivion the first few days, I think the reason why beginner could be having good luck in the first day maybe because they stick to the trading discipline that they've learnt, once they got the grasp and feeling overconfident after series of win they become reckless and overtrade.
it's easy for people who keep making profit to lost touch of reality and use too much margin or overtrade.
so no, I don't believe in beginner's luck, it's all about how we approach trading and keep sticking to the discipline, do it again and again and you will eventually make it big.

I will say I agree with everyone that says there is actually a beginners luck where you see yourself on a winning streak just to get hit later by a loss, what I usually tell the new traders is this isn’t a beginners risk but actually an inevitable loss that will surely come. When you’re winning it is actually your strategy that and the good behavior of the market that actually made it so, the loss usually comes when the trader is deep into the euphoria of winning and they’ve went against their own trading plan like risk management not been implemented. This loss usually comes heavy That’s sometimes it cen leads to liquidation,

So the beginners luck is definitely there where the Market continues to give you its profits in fact this is a period where you have many traders flipping accounts and this is a very trying time because most usually do not stick to their risk management and that’s why the loss usually hits hard when it comes

Luck exists but it never stays with you forever.

You only can succeed in trading if you have enough knowledge about it, fundamentals of projects and technical indicators, analysis for trading, have proper trading strategies, and have good risk management strategies to defend your trading position and more important your trading capital.

If you don't have all these things which are necessary for a successful trader, don't wait for luck support forever to make you as a profitable successful trader. You can not have it simply by luck.

Sometimes, it's real, sometimes it isn't. But I think that beginners luck is existing and we can just conclude that it's entirely a matter of being lucky or not. Many traders are blindly trading due to the fact that they think they're going to be lucky with their picks. Little did they know, it's not enough to trade just because you're lucky. If you can't trade without having to read the charts, you're obviously gambling and there are many traders that does it and let alone their fate do the thing whether the coin that they've picked is going to save them with some nice profits or they'll have to deal with massive losses.

You would really be able to make out some conclusion that you are a good trader even just on 1 week because there's no such thing about beginners luck when you do able to sustain yourself to be profitable in a week time period, specially if you are really doing some active or day traders then its something that you could really be able to say that you are doing well. Beginners luck will really be able to be determined on the time or moment that you would be doing that first trade or a few tries on which you do end up on making profits which is really that totally different on the moment that you do make out a series of trades in a week time or
for more longer. If you do find yourself that being profitable with those periods then this one isnt considered to be that a beginners luck. There is indeed a beginners luck but this could really be only considered into those few tries or short duration on whatever you are really that dealing into and you are completely having that zero knowledge. No superstitious approach that could really be applied into this one. If you are good then you would really be able to sustain but if you are someone whose really that noob and wont be having an idea on what you are doing then it will really be understandable that you cant be able to prolong on the profits
that you are making. There's really the difference in between into those people who do have that experience in comparing into those zero knowledge ones. There are really such times or moments that turned out positive for them but its not something that could be able to sustain for longer runs. The good thing is that on the moment you do experience shit conditions is that you do able to learn up along the way.

Having confidence as a trader is great, but one thing about confidence in trading is that you don't have to be overconfident about yourself because you won't even know when you're making mistakes that could blow your account, you'll just keep trusting a wrong process out of confidence till you realize late that you've been in the wrong trade by then so much money must have been lost to the point that a reverse is not possible. Applying caution while trading is what every trader shouldn't neglect no matter how good a masterpiece may be likened to.

Trading for a period of a week or a month in a state of always being in a profitable position, the trader is not a beginner but in a positive sense it can be said that he has good trading knowledge.

Beginners who start from 0 in the world of trading will not get consecutive profits during their early trading period. They are more dominantly confused in doing their trading and the chances of experiencing losses are greater even though they have previously attended training on trading.

It is true what people say that in a trading routine, pro traders are not always in a position without losses, especially beginners.