Topic: Beginners Luck in trading real or superstition - page 6. (Read 1804 times)

When someone tries to apply what has been learned well, they will be able to measure how far the knowledge has been understood and if it is still not right, they can re-study and also correct the mistakes they have made, because without trying it, of course they will never know whether they have understood and are right as you say what they have learned is certainly useless without trying it.
From the many experiments they have done in trading, of course this will give them experience and of course it will make them better when they are going to trade and as beginners they can get benefits when they first try if they have studied trading well.

It is indeed very common to practice what we already know based on the learning we have learned before. Because if someone who has learned more but still has not tried anything as a practice, of course what he learned will only be a very useless theory. And on many sides we can all also see that people who often try to practice based on the knowledge they have and they consider it as a trial exercise, they will eventually also get used to predictions that are quite close when they want to do a trade or the like. So experiments are always needed after we learn it properly.

There's no luck on trading because market is very unpredictable, wherein unless if you got the real time or let say a coincidence that you bought and the market goes to your side coz for sure you will win . But remember that it's not that way how it works and you keep doing that surely afterwards you will have a big losses. So better to gain knowledge and practice your skills.

Too bad you didn't have a pleasant experience at the beginning, it's still a comon phenomenon for beginners to care about  making profit immediately without employing proper risk management, they rarely put a stop loss most times because they feel overconfident it will all end in profit, I guess that might be why your account was wiped in seconds.
Proper risk management  after the acquisition of trading knowledge is important to ensure traders don't wipe out their profits.

Ok...yea I get you but you said "Luck is when you are skilled already to make a good prediction" if younare skilled to make a good decision i dont think it should be called luck, I think it should be an execution of a knowledge you have acquired towards making a profitable prediction. In all these I equally agree with you that practice makes great improvements, might not be perfect but great improvements will be noticed when you consistently practice what you learn.

It is always happen with beginners. I have faced same thing when i was a beginner on trading filed.I had though trading is an easy of earning and i have huge chance here. Thereafter i start trading and i had earn a few and the my confidence were getting high. I have started with a good amount after that and finally my account was washed with a bottom of price and finally i had realized  it’s not so easy as i thought.However i have started to learn trading and also from my mistake. Gradually i have started to recover my fund. I wanna suggest to beginner not to hurry then you may loose your fund like me cause trading is a risky way of earning. You may loose all of your fund within a second.

Those beginners luck it seems people have a good trade during the market going up, now you can test the trader's skills in the market when it comes there's a side way and sell strategy when the market is downward, its easy to get ride with the market during the uptrend because all you need is to make a position and wait until where the market can bring the candle stick but in the bear season people get hesitant in the market movement even the sideways now its your strategy how you will handle this kind of market situation.

They can win or lose in streaks or win or lose big but assume they are winning big in a good win streak, if they don't use proper risk management for their trading position and their trading capital, they will lose big later. They need to have a long win streak to increase their initial trading capital from small to big, but with bad risk management, they will lose big. The pain is with one or two big losses, they actually lose most of their trading capital.

I emphasize, they don't need to have a long lost streak to lose big, one or two losses are enough to destroy most of their trading capital.
One of the best weapons in trading

With a large sample size of newcomers in cryptocurrency market, it can be 50/50 for winners/losers but practically, the proportion of losers in my opinion would be larger than 50% because in any market, losers are more than winners. It can be closely to 80% losers and 20% winners, with large sample size and with long observing time like several months.

Yes, it should be like that, but as I said above, it is likely that they will have this awareness when they already have knowledge in the sense that they have gone through some adaptation time first in trading to really know that profit does not depend too much on luck but rather on the skills they have.

For me, even though I know that luck can help me make a profit, now I will never dare to trade without being based on any analysis or strategy, because in any case losing money will always be an annoying situation even though I know that there might be luck that helps me make a profit, and I'm sure some people who are quite experienced will also think like that.

Getting profit for months or days from trading should not be called luck. That trader is really using his or her ups to trade; trading is very risky; a trader cannot be trading for a week or month and be getting profit, and you call that luck. Even if that trader is a beginner in trading, that is not luck; he must know what he is doing to get that.

The trader should be able to analyse the market and know everything in trading that makes him get profit from trading for a month or weeks, meaning that the trader is already seen as a professional trader and not a newbie trader anymore, even if he just started. He knows what he is doing; he did not just jump into the market to make money. 


Yeah. Overconfident will always make them lose money in trading because they will think everything they are doing is right and at the right time, which may result in losses. A trader should be able to follow one strategy that will favour him, and that is the only way he will enjoy the arket. The strategy will be a guide for him to do everything in the market.

I think if some statistics were kept, we would see that only half of the newcomers are lucky and the other half lose their money right away. And this is due to the fact that the strategy of a beginner in trading who does not have sufficient knowledge is similar to a casino and the probability of winning is 50%.

Trading is not just a simple buy and sell but it was a complex one. I mean the platform that you will enter is not usually user-friendly, so you may need some basic knowledge here first to be able to execute a trade before you can say or expect that luck can occur.

If we think we got lucky, yeah that we must not rely on it and not continue learning more because this is not sustainable or reliable. We don't need to wait before that moment occurs but it is always better to have a back already so that we still can continue trading and continue earning even if not in a consistent way (which are only normal) since we can't predict all occurrence in the market and the many factors that surrounds it.

Sure, some will indeed experience luck in trading. But they should not be confident that they will always have such luck. Trading requires experience and skills so you can have a good grasp of this tedious activity. I don't think there will always be the beginner's luck.

Some of the things which for me are noteworthy when you are in front of your screen doing the trading -

> patience / contain your emotions
> bankroll
> knowledge of the coin/project
> learn how to obtain information from the socmed platforms of the project
> know how to use TAs
> know your financial limits

Trying to learn trading means you are going to make some mistakes, and there are cases where people do something without knowing what they do and could happen to be right. I have seen it happen, but this isn't all beginners, we have seen some that do well by luck and some that does badly. I have seen one special occasion where someone learned about leverage trading and possibility of making millions from it by doing leverage, and they jumped in with 700 dollars. They turned their 700 dollars into 14k dollars within just a few days because some influencer told him what to do.

You know what happened next? He lost everything, even the 700 at the start, because he kept listening to that influencer who happened to be wrong a few times in a row after being right few times in a row. Now do we call this person lucky or unlucky? He did turn 700 to 14k, but he also turned 14k into zero as well. Anything could happen when you are a newbie and you should keep learning.

I believe that in trading there is luck that is very possible to happen and experienced by beginners when they just start their involvement in trading, meaning it is not superstition but it does happen because I have also experienced it where I managed to make a profit when I was still a beginner and did not know anything especially strategies or ways to make a profit.
Basically trading is a skill-based activity, meaning your profit always depends on how much knowledge and skills you have, but that does not mean luck is not involved in it.

On the other hand, feeling too confident when a beginner manages to make a profit without being based on any strategy or method, I think it is something that is natural, because over time they will know that it is a false belief, experience will tell them through the adaptation phase, but of course I would also suggest that it is better for a beginner to know that feeling too confident just because you have managed to make a profit is not good, and you can get that knowledge by learning more from traders who share their experiences on several channels.

I don’t really know, but seriously, beginners are always losing when they start trading because they lack experience, they are in the learning process, so most of them are always finding it difficult to make money, but maybe what you mean is that they might be lucky when trading after they already understand how things work, but they are still beginner.
 
During the bull run, even some people that joined crypto within few months will start creating WhatsApp group, asking people to join that they are going to be providing signals, they already think they are professionals already, because during the bull run trading is always easy, but when the bear market starts, that’s when they will discover that they know nothing about trading.

I don’t think you can be a trader without losing, every trader does lose, even if you are a professional trader, so I see loss as normal activity in trading, but it shouldn’t be too much. And I will say trading is not easy.

Well, in trading, you will either experience significant steady profit or significant steady lose but sometimes it's a mixed experiences, when you are not fully experienced and you are making profit, you will know and when you are equally experiencing losses, you have to keep learning and practicing. In trading, luck is when you are skilled already to make a good prediction. You wouldn't be lucky with so many successful trade when you don't even know what you are doing.

They should but unfortunately, most newbies don't understand this simple thing that if they are losing money initially, there are lessons for them to learn from those losses, so they are supposed to learn and grow instead of getting disheartened and leaving the market forever. You can't gain success in anything you are doing if you are not ready to adapt and change, the process will make you a better version of yourself but only if you embrace that gracefully.

I do believe in beginner's luck and it did happen to me as well, not only in trading but in many other places as well in my life. I think a person needs to understand that when something good happens with them when they are doing something they don't know very well, they should understand that it wasn't because of their skills but it was out of luck, and they shouldn't become overconfident because of this win.

There's no way that you could really be able to sustain yourself on making good trades, you could make a couple of few good trades but doesnt mean that you could really be able to make a series of good trades or simply
making up some sustainable approach on which there's no way that luck could hold it up. If you wont really be making out some realizations then you would really be having this kind of approach on the moment you do trade.
Never ever make yourself be thinking that you could be able to make a serious of good trades on which you are really just that simply guessing out on where it would be going. Trading isnt gambling but on the moment that you would really be applying no analysis into it then you are just basically doing gambling and this is something that must be avoided.

When doing up trading you would really be needing up to have some good analysis about on how market works and behaves. This market is really that too unpredictable and too volatility
on which even having that good technical knowledge and applying out some fundamentals wont really be guaranteeing out that you could be able to make out some profitable trade but even though this one talks about
failure but it is really something which is really that worth on trying out to make use of such analysis.

Even with all caution, there is hardly a beginner whose trade will be profitable during the first months. And this is due to the fact that it is not enough to be careful for profitable trading, in any case, knowledge and experience will be required, which a beginner simply cannot have.