Topic: Beginners Luck in trading real or superstition - page 5. (Read 1804 times)

Trading is not an easy job, and you most concentrate before you make out good thing in trading, I believe that we have to learn if you want to understand trading perfectly, and a newbie who just involves it self in trading supposed have know that trading has advantages and disadvantages, and that will make a beginner in trading to know exactly the fixed amount it can use to trade so that when it lost it will not feel bad, some beginners who indulge into trading just enjoin in trading because all people is involves in trading, not knowing that once you don't understand trading it will end you losing, when you learn and understand trading you will not lose as other people who has not had experience of trading and join trading, in my summary, before you join trading you most acquire the knowledge very well.

You should that removed into your mind on having that kind of lucky mentality on which you would really be that forgetting on how things should really be deal on with and you would really be that heavily relying
with luck and this is something that some people are really that thinking. On the moment that they will be able to experience some loses then this is where they would really be trying out to find on what are the things that they must do and would really be having those steps on which they would really be that trying out to find out on what are the best ways or methods that they could really be able to reduce up the risks.
Trading results on your first trades when you are still a noob might really be that ending up positively on which it will really be giving out that initial thoughts and impressions that it is really just that easy.

If you do able to make out some good trades on your first try as a newbie then you would really be able to have those thinking that it might work on the second try or wont. On the moment
that you would be experiencing those series of loses then you would be ending up on having those regrets that you should have done it earlier.

It is rare for such good luck though because  due to how dynamic the crypto market is and also how so many shitcoins are in the market, it's difficult to just invest in any random coin and expect to make profit. I know that it does happen but very rare, that's why I don't believe on the idea that new traders can constantly be lucky. Some of them can even be unlucky to the extent that they will lose all their money.

It is true, not all beginners will be able to feel the benefits at the beginning of trading and when someone stops when they fail at the beginning then they will never know how they will be able to feel the benefits when trading and for those who can fix the initial mistakes they made and try to learn the right strategy for trading then they will be able to make a profit on trading.

You are right, luck is indeed impossible to happen repeatedly and having a good plan for trading is certainly very important to be able to make a profit and it is very unlikely that someone can have a profit on trading without having the right plan, when someone sees a beginner will be able to make a profit without seeing the process they go through of course will say that it is luck for those who are just starting out, but if they know the process they go through of course they will admit their intelligence in understanding trading so they can get good results when they first try trading.

In a bull market, money can be earned easily in the market, in Bitcoin growth, altcoin pumps but it's the easiest part, and the harder part is hidden. How to protect what you temporary earned and more important how to protect your initial capital, are more important or let's exaggerate it a little bit, very vital.

If any trader can not secure what they earned and their initial capital, they will lose all money in the market through trading very easily and quickly in either market corrections or bear market. It's about Spot Trading and risk is higher a lot with Margin Trading and Futures Trading.

Next things will no longer be rosy but nightmare, with waiting big losses. Especially when bull market is over and bear market comes, there will be no chance to hold and wait for higher highs.

Traders who are inexperienced and don't use stop loss order, don't close positions appropriately to secure initial capital, will lose money in terrible bear market months. History says Bitcoin loses 80% of price in bear market from ATH and altcoins lose 99% or more in bear market from their ATHs. Holding positions in bear market is bitter suicide.

Yes, that is the danger of side effects that can arise just because of the luck experienced by beginners in trading, this luck can really make a beginner continue to walk with high confidence and can also make them think that it is very easy to get profit in trading and even worse there are also some of them who seem to find the right solution to overcome their financial problems, and of course you must have guessed what will happen next, yes they lose all the profits they previously got and not only that, they also continue to deposit money because they feel curious and feel strange that previously they could make money easily but now profits are really hard to get.

This is a misunderstanding that is not uncommon in the world of trading that starts from mistakes in terms of responding to the first profit they get, I see it as nothing more than a gambling scenario that ends horribly.

There is no denying that it is real, after all even if someone does not know anything about trading, they may by chance select the right time to buy a coin and make a lot of money this way, but as you may guess this can be very damaging for such newbie trader, this is because they may come to think that trading comes naturally to them and they have to do nothing to become successful, a notion that could not be further from the truth and the negative results they will most likely get next will show them how mistaken they really were.

I wouldn't say beginners are lucky I think I'd call it a welcome party to whatever he or she is into and some also don't have that privilege of making a better profit at first, with that happening it causes frustration and make it look like the individual involve is a failure, some people do quit at first trial. Trading doesn't hand you a free opportunity to start making crazy profit but is how well you follow it and with a better strategy to tag along.
I think everyone has luck with them but you can't put that luck to work, but how well you plan and things start working out fine for you, people that doesn't know the effort you put in for things to start working fine for you will start saying is luck but they don't know that you did things the right way. When you're doing well in trading or whatever I can't say is luck, is how well you understand what you're doing and how well you're doing it, luck has nothing to do when you make profit.

It can be called luck only if a person is making predictions and then investments based on gut feelings and then getting profit out of those investments, but if someone is spending time in the market and doing at least some analysis before each trade, then he isn't only lucky but he has worked for the profits that he will get. A beginner's luck would be when a person joins the market, buys a token out of curiosity, and manages to get exceptional returns on that investment.

Steady profits and losses are normal in trading if they are coming together, steady profits prove that you are doing good, and steady losses tell you to correct your mistakes, as you said, if someone is having more losses than profits, they need to re-evaluate their trading practices and maybe change their strategies before they continue.

On the moment or time that you would be having that actual experience towards the market then you would really be able to find out on what are the things that you must do. We are once a newbie
when we are really that starting on something that we havent done before. Of course you would really be able to do such stuffs on which arent supposed to be done but on the moment or time that you will really be able to gradually be able to learn up those new things around then it will really be that making yourself at least be wary about on how things works. Yes, not all the time on which news and other sentiments do works or something that you could be able to apply on which there will really be those times or moments that the market doesnt care on what ever analysis that you do have neither FA or TA but still it will really be that bound to be broken or something that wont be effective. Dont believe into those superstitions or other stuffs on what people do say around. Stick into your own ways or methods of trading and apply any learning that you have gained along the way.People will really be able to make out those kind of realizations on which its part of human nature that once we do able to learn something or experience something
then you will really be able to adjust accordingly and able to do things on whatever the market will really making. It will really a situational thing on which its a personal choice whether you do adjust or not.

A little bit of both? I mean when a newbie wins a lot of money when they are first starting a lot of things depend on what kind of newbie they are as well. Like if this is a trader who traded at stocks and forex for over 20 years and then newbie for crypto trading, he is still not technically that much of a newbie, so when he wins a lot of money then its not even luck, and its not fake, he could make money. Or if some 17 year old kid puts his allowance money into some nft which goes up, then that's luck and real as well.

There are situations where some newbies will make a lot of money and there are situations where they will not make a dime, so we can't exactly say if its real or superstition because it may happen or may not happen as well. I believe the best outcome for this would be just not trusting that every newbie will make money, most of them ends up losing money so the best way would be just expecting nothing and be happy if anything happens.

That is why we often find someone sharing their analysis saying that it is not investment or trading advice, of course now we understand it as a risk. Theory and practice do not always go hand in hand and of course there are times when they are not useful, but as you said, theory supports your plans in trading and investing.

Direct practice tends to give us experience, be it loss or gain. At least, the trader will be able to understand where the advantages of his trading strategy lie and where the weaknesses lie, so adjustments can be made in the next trial. By the way, have you seen today's market?

@Lightmanalmani, correct your quote.

We cant really be able to deny that when dealing up with trading then you would really be needing up to have some mix of luck when it comes to various situations on which it will really be that still relevant.
Just like on what you had mentioned that there would really be some timings on which it will really be that something crucial on which this one causes up for you to make up some good profitable trades.
I do agree into those words that no matter how good your trading analysis is but if the market will really be that not going into the  things that you are really that supposed to expect then it will
really be that resulting into a loss on which it will really be that something that could really happen since this market is really that speculative.

Somehow despite of these conditions it wont really be that something that you could really just that rely into luck alone because we do know that when it comes to this aspect
it will really be always important that you should really that know on what you are really that doing and not really just that simply trying out to rely with luck because this isnt gambling after all.
If you would really be that trying out to have that kind of behavior then you would definitely be having some issues.

beginner's luck in trading can be luck in choosing assets or luck when the market momentum is good. luck that is obtained at the beginning can be a motivation for traders. but it can also backfire on the trader himself. because traders can become very confident in making the next trade.
We know that sometimes there are beginners who even start their trading based on watching videos from influencers. this method may work when they are lucky. and try it again, it may never happen again. traders must adjust themselves to develop skills not based on forecasting science.

I don't think beginners luck is a superstition but a fact that happens to almost all individuals that begins to start trading. When you join the market newly, you'll come with so much force that things that shouldn't be working for you will begin to work in your favour and you'll be winning but as you advanced more you'll begin to become more careful and not take the usual risk that you were taking. You'll only continue to be making profits when you're a trader and not an imposter that doesn't know how to trade but was just relying on beginners luck from the beginning. With more practice, your decision will be more accurate therefore you need more practice.

Of course that is true, in the sense that as you said that theory is different from practice in trading and that is why strong mental and psychological abilities can only be had when you are directly involved in trading using real money, although it is in theory but mental and psychological must only be trained in real terms because you must first feel the tension and worry about the possibility of loss. And also on the other hand, in my opinion, theory in trading is most likely only useful for building your planning or trading plan and also helping you in terms of forming and maximizing risk management, theory will not help you much in terms of achieving profit because usually the theory of the strategy that you get from other people will look different when you practice it, I have experienced it where in the end I was confused, so now I prefer to look for various strategies from the experience that I have.

Beginner's luck is to follow someone's trading plan correctly and get a profit, this happened to one of my seniors in college, he wanted to learn to trade but he didn't know anything in trading even to put a sell or buy position he didn't know at all, at one time he followed someone on social media and made a purchase and boom he got thousands of percent profit, even an influencer who shared it he thought he was lucky, not being in his calculations, and my junior became a person who had luck in the beginner phase of trading, such things exist but are very rare, even I myself have never got it.

In trading, the fact is that theory will not be the same as practice. Traders must understand that even though the theory can actually help them plan the right strategy to put into practice. Trying to put theory into practice in trading ultimately requires traders to consider many things, apart from just capital, they also need to have a backup plan so they don't lose completely if the market doesn't match their expectations.

It's just superstition, especially for newbie who doesn't know how to dot properly then accidentally make profit. Yes, accidentally, nothing else.

If the guy is learning stuff, watching videos and reading techniques, information and knowledge. No doubt, "beginner's luck" is nothing to with that that win and profit.