Topic: Skills vs Luck *poll* - page 29. (Read 34767 times)
I am not trading very frequently as I am more in a holding state, but when I do, I have to rely on the skills that I have been building up in my time here. Same goes up when I was doing stock trading before I knew Bitcoin. If I didn't had any trading skills I would definitely not risk any money on it. I am in the game to make money, and not to lose it.
It depends what is being traded, with forex or cfds a good trader will try to eliminate the chances of being lucky or unlucky. If you're trading against the price of bitcoins then you need to rely on being lucky slightly more. Trading altcoins will often mean luck plays a huge role in determining what profit or loss you make. This does however depend on the trader as even very successful traders have bad days.
When trading What Matters More Skills or Luck?
I like the idea for this poll by the way intrader. I'll certainly be keeping an eye on what people have to say here =)
Definitely both - but skill more than luck, and don't forget research, discipline and experience. I would never invest in a coin that I didn't understand and research beforehand. If people blindly go into an investment because the price is rising without any research then they need luck, and skill to get out before the market implodes or at the right time. You need to set rules and keep to them. I lose more often when I forget my discipline and setup trades without thinking.
Knowing when to cut your losses is something I really need to improve on. I have some positions that have been waiting for a swing for longer than they should have.
Knowing when to cut your losses is something I really need to improve on. I have some positions that have been waiting for a swing for longer than they should have.
I once bought a course on trading options. After the first page my eyes glazed over. I'd never really heard of them before but called one of the brokers listed (this was pre internet) and bought the first one he mentioned. I forgot about it for three months. When I called back it was up three grand. Luck for me.
According to me In Trading our skills is very important. Yes if we don't have knowledge on Market it is impossible to do trading. But if we make a profit in trading we need bit luck.
Luck is better than skill actually, but you cant rely on your luck everytime, for sure you will have good day and bad day so trading using luck will get you nothing, but if you are using skill you can used it as long as you like, but skill without luck will cause you lost, so in order to success in trading you are going to need 80% of skill and 20% of luck
you will need both for success but skill is always so much more important than anything else. and without skills you can not even start trading.
in other words you need to have the knowledge and experience to understand how things work with trading and in order to decide when to get in and buy and then know when to get out by selling.
in other words you need to have the knowledge and experience to understand how things work with trading and in order to decide when to get in and buy and then know when to get out by selling.
I think trading depends more on luck and not on skills. All you do in trading is buy and sell, that's a two way thing. You can't actually do much about the price of the altcoin you've invested in. If it goes down, then it goes down. You can't control it unless you're a whale and can pump the market. Nevertheless, most of alt coin traders only got lucky that's why they could get a lot of money out of it.
I think purely depends on the skills, because people who have sklills, it will be good when analyzing the movement and he is quite proficient with the full research. but I think we will still need a bit of luck.
Exactly said, skills help in executing things in a better way with great analysis but the outcome or the result is not in our hands. It truly turns in relation to the luck one have along with the decision made by various analysing process.
Skills is the very important thing in tradings really as we can notice it we really need to get skills and proper preparation to earn big with it the wiser we are the bigger we can earn and luck is just a plus points in that thing because trading is not game of luck and it needs monitoring and trade wars among traders so we cannot be left behind and fall for their dumps.
skills/knowledge of course. if you just do your trading without knowing how to trade or what state the current market is in, then it's all about luck. i prefer to call these yolo traders gamblers. they are just hoping for enough luck to hit the jackpot. that's it.
I think purely depends on the skills, because people who have sklills, it will be good when analyzing the movement and he is quite proficient with the full research. but I think we will still need a bit of luck.
Exactly said, skills help in executing things in a better way with great analysis but the outcome or the result is not in our hands. It truly turns in relation to the luck one have along with the decision made by various analysing process.
I think purely depends on the skills, because people who have sklills, it will be good when analyzing the movement and he is quite proficient with the full research. but I think we will still need a bit of luck.
In trading, skill is important because you need to study and research about the coin you are trading. Experience is the best teacher so if you already have an idea about it then you can start small amount then eventually when you get the hang of it, you can invest bigger amount for bigger profit. But you also need luck because there are some fortuitous event that may happen that will let you earn tremendous profit or wipe out your entire account.
You need also luck. But you need more skills in able to be successful on trading. You need also patience if you are doing a long trade. You must know the ups and down of trading. This is risky and you know that so be careful.
When it comes to trading, skills go a longer way in helping you than luck. In fact as you become more skilled, you tend to get luckier. Better to polish your skills than wish for luck all the time.
Luck matters more to me, considering that if we were skilled enough for trading, some people would already start making big profits. Also, there is no way of knowing where the market is going.
"Skill" involves a lot of things:
It is a skill of the mind.
But... in some cases skill is not significant and instead luck is hard asset. If skill was absolute tool for predicting trading possibilities then why we are still facing global crisis one after another?- Predict when it is good to buy
- Predict when it is good to sell
- In gambling, to control yourself after a bad/good luck has happened is also a skill
It is a skill of the mind.
After all we have bunch heck of a better and 'skilled' economists in charge of financial institutions. Sometimes skill alone is just not enough.
I think it requires both, because sometimes our predictions are not always exact, but luck can sometimes make our skills into a profit or even become worse.
When trading What Matters More Skills or Luck?
there are no skills only prediction, so i think luck matters more as if you will buy at good time then you will make loads of profit when you will sell them
trading is all about "skills" and nothing else matters. that prediction you mentioned here is not dark magic it is actually science of analyzing the market (charts + news) in order to come up with the best possible future and then act accordingly (buy/sell).
and yes if you have no idea what lies behind those analysis, then all your decisions are based on luck.
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