Topic: Beginners Luck in trading real or superstition - page 4. (Read 1804 times)

Yea, trading is difficult and requires alot of skills acquired through knowledge and consistently practicing the knowledge gained, beginners Luck I feel happens if you test run a strategy that was learnt, being on the right side of the market at the right time, situations seem to favour you.

Mind you, the beginner just got lucky because he doesn't even know he is on the right place at the right time, he doesn't even know why he took the trade, he just took it and boom! It paid off.

That is pure gambling that can equally wipe his capital in due time. So knowledge really need to be invested in.

Imagine renting on luck in trading bitcoin, damn! You will definitely blow your account.

And these things are something that you cant be able to obtain or achieve in a short period of time on which there are ones who are really that able to succeed and there are ones who are really that able to fail.
There's no way that you could be able to achieved such skills on which of course you will really be that becoming a trader or not then its up to someone on how they do deal up with things.

Beginners luck will really be that neither be happening on trading or even on gambling or anything that involved first time because not everyone will really be that all knowing being on which simply means
that you are really that become that curious and will really be trying it out for the sake of that thing but of course there will be those people sticking into it.

There are ones who are really that sustaining into the things that they are really that eager on learning it up and thats why soon they do realize on what are the things that they should gonna do.
Neither they will really be that stopping on doing trades or would sustain out on using strategies and some are believing with superstitions.

Trading requires skill, experience, and strategy more than luck. Skill and experience in trading is a must, because it is never possible to make money from trading depending on luck. Because in trading, every thing has to be taken care of very well and after researching the market movements, trading has to be done at the right time. And while trading can never be done on emotion, it is very important to control emotions and maintain strategy consistency while trading. We know that without luck it is never possible to get anything good, but in the case of trading, along with luck, there must be skill and proper planning. If we only rely on luck in trading, we will never get something better. It definitely requires skill and experience.

As I know, in trading luck is not the main factor for beginners or professionals. Because trading is an activity that must be based on skills and knowledge. If as you say beginners can make a profit for a few days or weeks or even months because they already understand the basics of trading and they enter at the right time with market conditions.

So beginners can make a profit not only because of luck but because the strategy and emotions they use are right for those conditions. However, in the next month of trading they experience losses, meaning their strategy is not working well or they cannot control their emotions in trading. So I conclude that beginner's luck at the beginning of trading is not superstition but because the strategy they use happens to be right. Because trading is difficult, it requires skills and strategies. So beginner's luck in trading as a superstition does not exist.

Maybe this is the only time I can agree with you when you talk about luck in trading, it is when it comes to scalping. Day trading is the hardest, and I remember when I was day trading, it is very hard to fall asleep with an open trade and you wake up several times during the night to check the status of the trade. I don’t know, for me it is too hard to do it all the time, in the end I decided that medium and long term trading are the most suitable types of trading for me, it does not take so much time and I can sleep peacefully, which is very important for my emotional state.

Oh yea it's most common to newbies, the excitement that comes with winning a few trades make newbies feel they have understood the rudiments of trading.

Acquiring the knowledge will make them increase their chances of wining as you said

I believe it’s so common because it mostly happens to newbies, hence the beginners, and then they used to be winning for the first time. I believe it is just by chance and not in any way quantifiable because you cannot really study something like luck. Maybe increasing your chances of winning could help you, but luck is just really random, in my opinion.

Its part of human instinct to have that kind of adaptation on whatever things that they are dealing into on which on the moment that they had experienced that and having those loses then they will
really be having those realizations that the thing they have done is wrong and on the next time they will really be doing it then they will be making out some adjustments.

Trading skill isnt something that you could really be that easily to get a hold with on which this will really be requiring up that patience and versatility not only on making up strategies but also
considering about that risks management which needs to be done in dealing up with trading with a volatile market. You will really be having those normal situations on which you will
be experiencing loses on which this is that inevitable.

First trade and turned out to be profitable will be giving out that kind of reaction that you do really thought that it is really just that simple or something that you can handle it easily or having no issues.
As you do go forward then you will definitely behaving that kind of experiences on which you hadnt expect for it to happen. You will really be shocked but eventually be
able to learn up along the way as this will be the route on which you will be taking and having no choice but to sustain it out.

You learnt from your mistake and you won't be making that mistake again but some individual never learn from their mistakes and they keep making it regularly. As a new trader, there are some mistakes they just have to happen as we don't have the experience before to prevent the mistakes from happening. I prefer making the mistake when I'm a new trader than making the mistake when I have advanced and now using more money to be trading. Beginners luck are a thing, it doesn't matter if you believe in it or not but it always happens and when you're not careful, you'll think you have gotten good at trading but that isn't the reality.

Luck is something that cant be able to determine on when it would gonna happen in a certain individual This is why we do have that so called beginners luck on the moment that newbies will really be that dealing into something that they've been starting into and it turns out that they had made out some money or simply being successful on their first try, but actually it is really just that all being coincidence on which you would really be needing out to still learn things along the way because sooner or later when reality do slap into your face then you will be able to realize that you do need up to learn something more and that current knowledge you do have isnt something enough that will drive you into being successful. On the moment that we do start up on doing trading then those common impressions will really be just that too common on which you would really be having thoughts that it is really just that simple basing up on what you are seeing into other people. On the moment that you would really be testing or making out things for yourself then you would be able to immediately tell or realize that it was never been easy and those early profits you had made is really just that a pure chance for it to happen. There were moments such as this and thats why its really that very wrong that you will be making yourself that being confident just because you do make profits in your first try.

This happens to everyone but you just have to be there at the right time I think. For you to have luck, you must be at the right time when you don't even know things of such is going to happen. I have for once set up a trade, it was actually sell short on futures with some few dollars, I was just scalping and then I open the last one before I went to sleep and something just woke me up and I check my phone and I saw the market was down, I had 235% ttat night, 6 times bigger than what I do have from trading.

This is not the first time, there are couple of time I have experience this and anytime I make this profit, I immediately stopped trading, that's what some newbies don't understand. They get over excited and open more new positions on their trading and they don't know that sometimes trading is more about luck and it doesn't repeat all the time.

That part hurt me the most when I started trading. Small losses do not even matter all that much and I can understand why that would not be really a big trouble but the reality is that if we are seeing something that is bigger then we are going to have something that will be a bigger problem. Think about it, you are just starting out and have just a few thousand dollars and you lose a thousand dollars, nearly half of your money, on a single trade. That was a terrible day for me, I did had like 30-50 even 100 dollar losses before and that did made me feel bad but not that too much and I was fine with it, but when I lost 40%+ of my capital all on a single trade, I really felt terrible.

Obviously it was a mistake to even have that much of my capital in a single trade but I was a newbie so I made a mistake. That had a learning impact on me, I learned that I should not invest that much into a single trade and ever since then I never did more than 5% on a single trade.

Yes, beginner's luck is really something. It even happened to me when I first started trading. I began by learning very little, and all my demo trades went smoothly 😂 I was making a lot of profits, until I made my first deposit into a real account. After that, everything became blurry. I burned through 5 accounts within a span of 4 months (quietly) 🤣🤣. It was from that moment I decided to get proper training

I have just one piece of advice for new traders: make sure to get trained from the very beginning, otherwise you will waste a lot of time and money

Sometimes beginners in trading do not realize the frustration they can get when they experience their first loss because most of them are already more obsessed with the profit even though they have not received it. Knowledge before doing something is very important, especially when it has to involve money directly like trading, so every beginner must have knowledge before they experience frustration that can cause loss of enthusiasm to continue what they have started.

The  less confident and the understand is the best key as a beginners to become successful in trading, because a beginners don't need to be rush when is coming to trading is better them to endure and learn gradually so that they can know how to monitor the market and also how they will develop there trading in to deep system of learning.

Yeah actually thinking of lose is also part of what a beginners need to know so that even when they've far in trading and they later across the losing it will not be a new things for them, why is because they have already head about right from the beginning. To be an expert on trading is not a day job; so anyone who said that a trading is very easy, that means the person has never try it for long periods of time.

Most definitely you are right, it is real and I have experienced it, I blew the profit and capital  shortly after I made it.
It can be demoralising though bit the solution is to invest in knowledge even if initially you seem to be making a few profits hear and there.

If the beginner doesn't invest in knowledge, he might get frustrated on his first loss, because he doesn't really know the reason behind his losses.

If beginners actually feel this way during the early stage I still believe it’s proper, we always have two set of beginners in everything including trade, winning doesn’t stop a trader from learning consistence. I understand your point of view because some will see trading as something simple unknowingly it requires hard work and time, early lose still create more harm and personally they should be educated first before going into crypto trade, successful traders also make mistakes winning besides lose is more common with traders.

It's not superstition. I have had the opportunity to experience beginners luck myself and I believe everyone gets that illusion early in their trading career. You initially starts off well and make some profit but the market takes much more than it gives you simply because beginners have little to no experience with either trade management or risk management. It's the only skill when you learn by doing and if you don't experience those early losses cause by beginners luck, you will never learn.

Trading is very difficult and it's hard to master it, but even mastering it does not mean you are perfect in trading.

Trading with leverages, futures is suicide and you will lose all money soon, but of course trading with Spot is safer but there is risk to lose your bitcoin too.

With Spot trading, if you open a wrong position, you can hold it and wait for price to rise again. Or you can close that position, and withdraw your bitcoin to non custodial wallet, and wait for a bull market next several months or next several years.

Risk with holding bitcoin on exchanges for trading with Spot type, is high. Centralized exchanges can die, scam exit, bankrupt, whatsoever reason to cause you losing your money.

Another risk is you sell low, buy high and it means you are losing your bitcoin by trading.

Exactly, trading is not something that you will start and expect to make a lot of money right away. You need to understand everything about it so that you can be perfect at it and things will be easier for you when trading. Any luck comes with your efforts because you struggle before you get profit, and it is your understanding that makes you win in trading. I always believe that one day, trading will surely pay for people who are struggle on it because without hard work, you won't know the benefits of what you achieve, but if you struggle and achieve it you will know that you work for it and you will know how to spend the money.

Trading is not like investment that can minimise your risk, and you won't lose your money all Trading without enough knowledge you can't win in the Trading you will be losing anytime expect you understand before you can succeed, professional people we say trading it simple and they lose too but they believe that even they lose definitely they will still be profitable. So get enough knowledge about trading because if you don't learn luck won't come your way.