Topic: trading purely based on luck. - page 2. (Read 506 times)

Your trading experiment might probably work in three days but not sustainable enough to work for long term. That is because luck is not the only requirement in trading but you need knowledge and skills as well so you will be able to succeed on your trades regardless on the position of the market. Although being emotionless in trading will help you to be successful, but we all know it’s a lot different when we are trading with our live account as emotions will always be there triggering our trades.

You would find it sooner or later on the time that you do step your foot into this market then it would really be just that so normal that you would really be that having those impressions that trading is risky on which it would really be that similar to gambling but sooner or later you would be able to realize that it wont really be just that as risky if you do really know on what you are doing.Plus we could already differentiate on whats a leisure thing and whats an investment or venture that you are dealing in speaking with trading. Somewhat it is really that true that there's a little bit mix of luck on which we do really need if we do speak about success
on trading because no matter how good your analysis is but if things turns out to be salty then you would definitely be having that issue on failing up with your trades.


This is true on which on which if you are still a complete noob then you would really be having this kind of intent or belief in mind that it is really that something that similar to gambling
on which it would really be normal that you would be having that gambler like kind of approach until you would realize that this isnt something that really needs to have that kind of dealing
but rather you should go to that serious part on analyzing and studying more rather than on being careless and easy go lucky kind of behavior.

What a nice experiment. I think I will try this in a demo account too given that I heavily rely on technical analysis whenever I trade. Let's see how I can benefit from my experience and my guts in choosing the speculation to believe. Though I think it will differs when a real money is involved in the experiment. Having something that is at stake will somehow make your judgement change like being meticulous on the data you are relying on. Fundamental analysis works but I don't do it that much.

Trading is not the gambling,So how you claim the trading was based on the luck.The analytical skills help one to earn good money from the trading,because the trader should take one coin for the investment.Then he shoiud analysis the complete from the origin of the coin to the current point.So the trader will make their accurate time for the pump and dump in the price of that coin.So the analysis was the key factor for the trading,So using the ideology one trader can find the accurate buying price of that coin.In all the way trading is not based on the luck.

I think trading can never be done on the basis of luck. If trading was a means of earning profit on the basis of luck, then what was the need to convey different opinions, analysis and information of people about trading on different platforms. If you make two or three trades without any analysis and estimation, and you get a small profit in it, then you should never take it to mean that you can do the trade on luck.

Trading always requires good experience and good knowledge, yet sometimes the analysis and guesswork of an experienced trader can prove to be wrong. Crypto currency market is a volatile market, a newbie can make some trades without any analysis and guesswork, and may get profit, but it cannot be consistent. So instead of relying on luck, focus should be on hard work and learning.

It is typical of newcomers to think that by some means of luck they could be successful traders but trading doesn't work that way, trading success doesn't rely on luck but strictly on skills, anyone could be lucky with a trade they open but in that luck 99% is dependent on your applied skills and strategy to that very trade.

If this was gambling I could more or less agree about luck but same doesn't apply with trading that's why it's advisable for traders to keep learning different trading skills and strategy till they discover the very one that works best for them and pitch your tent there stead of sitting on luck.

What do most people think here—that trading is all about luck as well as gambling? Is there a valid basis for saying this? because just to say that it's just like gambling, which also depends on luck, this view and belief is a bit wrong. It is incorrect to compare trading with gambling.

Maybe it just depends on a trader's belief in the cryptocurrency business. But if anyone believes in this concept, he has the wrong perspective on trading, based on my own opinion. What's the point of why trading is called skills? The tool indicators are then useless. If trading is based on luck,

You say you depend on luck to succeed in business but I cannot agree with you. Fortune depends on one's hard work and one's efforts. A hardworking person aims to achieve something in his life and a lazy person dreams that success will catch him by himself, a person is striving to reach his goal another person is passing his time in idleness and waiting for something amazing to happen here. A person who works hard is more likely to achieve success. You may have started training without understanding about trading but later you tried to gain understanding about trading and gained practical experience because of which you were able to achieve success in your business. So if you want to achieve success, you must try, it is not possible to achieve success depending only on luck.

I'm not sure if the Op is just basing on his luck on his trades because normally we can see the chart when we execute a position especially if he really knows how to trade. Even if he just looks at the chart quickly, he can see where the direction of the price is. But even then, you still won't be profitable if you trade that way. Trading in a demo account and a live account is also very different. If you're profitable in your demo account, it doesn't mean that you're 100% profitable in your live account. You should trade as if you have no emotion which is very difficult to do because it is normal that we have emotion depends on our previous trades, especially if we lose consistently. That's what we have to watch out in our trading, our emotion.

Honestly, congratulations to you, but relying on luck will not come again and again, maybe luck will come once or twice, but not many times. What you are using is a demo account and this will be very different if we use a real account, where there will be lots of complex problems that have to be controlled. especially in terms of psychology which can disrupt our trading patterns, and this must be trained gradually

If you trade base on luck and you entirely depend on it without any trading skill, your chances of losing your start up capital will be very high as you won’t know the best strategy to use in other to reduce lose in your trading activities, I know luck sometimes do a very marvelous thing for us to win our trade but we can’t just relay on luck alone just because it works out for you few times which it was tried out those not mean it will continue that way for the rest for other times.

If you are the type who is always lucky at your first time trail, take advantage of that and learn some trading skill if you are already developing a passion for trading so that you can add up that skill together with your luck and  see the amount of trade you might be winning on a daily basis and with the skill you will actually learn how to control your emotions and how to read chat very well which will help you in enhancing your trading activity.

Don't let newbies see this and they will think that trading is really based on luck alone, there is no need to learn analysis and so on. Because as we know, each person's luck will be different. And if you only trade based on luck, this is really like gambling based on luck. Here we can't see the chances of whether we will get any more gains or not, just hope and guess, and wait for luck to be with us. However, when will luck continue to come our way? That's the question. So, even though you are currently getting unexpected profits from trading based on luck, I hope you still have to study and do research, because no one knows whether luck will always be with you or not.

What differentiates real trading from demo account trading, is the pressure that is created!!  when you trade with a demo account, you are not afraid of losing at all, you actually seem relaxed, that is what makes you instead of losing, profiting whereas when you trade with an account real, the pressure you get is enormous, your worried attitude is created naturally, that's why usually traders who play on real accounts use technical analysis and fundamentals to make themselves comfortable and confident with the decisions they will take.

Well said. It is unless from my perspective, the trade was cancelled but it didn't work and alot of gain was made from the glitch wherein one can say it was luck, then such doesn't easily happen.
Trading is intentional as well as gambling. It is the outcome of the action you made that broight the luck of a win, I don't know if I should classify losing as luck in this case too but trading is more of a calculated risk than luck factor.

No, Trading is not entirely dependent on luck.  Gambling depends on luck. And tarding and gambling are not the same.  Although trading and gambling have some similarities, they are not the same.  Trading is dependent on skill. The more skilled he is, the better he is at trading.  In order to do trading, you must have sufficient knowledge about bitcoin. You must have the ability to understand the situation of the market.  Understand Hold and Sell.  What to know about Bull Runs Trading theory is time consuming.  It needs a lot of time to understand. No one can master it very quickly.  Moreover, it is possible to learn a lot by following the experts in the forum.  Gambling and trading are never the same.  One requires skill and the other requires luck.

Not really if we do speak about based on luck because it did really just turn out that the price had really goes that way and even without applying any analysis then results would really be that neither a hit or miss.

On the time that the price would really be able to hit up on what you had put up then for sure you would really be having impression that it was really that working but lets not put up into our minds
that it is really that basing up on luck because nothing beats out if you do really t rade up on using up indicators or analysis because its never been that not recommendable on making up trades
basing up with luck or pure guess. It would really be just that so normal that on the  time that you do make use of demo account then it wont really be making you that impulsive
since you do know that there's nothing that you could lose and which it simply means that you cant really be having those common impulsive reactions.

Emotions is one of the most common thing that could affect a certain trader, we dont really like on losing money and this is why whenever we do see  those
sudden swings or changes in the market then we do have that common impression that we do really need to adjust.

Many will not argue with this fact as some people believe everything happening today is always base on luck. To my own understanding, not everything is luck, for luck to even come your way, you must have learned something’s and have knowledge about it before you can get that luck come your way. You just used a demo account and saw that you profited, if you had used a real account and the outcome didn’t come like this, you’ll not mention anything like luck in this, but rather you’ll say you’re not yet an expert in it or your emotions wouldn’t make you to decide the right decision that was why you lost. Luck or no luck, it has to find you put in some effort before it can locate you.

This is one of the reasons I keep telling people not to keep comparing trading with gambling because these are two things we need to understand or else we will be making a big mistake. Gambling is what is majorly based on luck. You can keep making consistent profits from gambling without any issues but that will be very difficult for traders to accomplish because the market is always volatile and cam move to any direction if we are not careful. We need to ensure that we manage ourselves as a trader that we are or else we are not going to make profits from the market than loses.

For how long would the OP continue to rely on luck? Definitely at a certain period of time the OP having count on luck in taking trading decision would begin to experience or incur some losses because trading is not gambling it requires acquiring some level of skills in Fundamental, Technical and Sentimental analysis all these combined would a trader to have an edge over the market thus the OP shouldn't rely on luck while trading having earn some profits consistently it could be absolutely very risky if on a Live trading such habit is also adopted by the OP because it won't take long before portfolio would be liquidated

I don't fully believe it. I think this applies to beginners who have just entered the market. In my experience, at first I was very confused in trading. We all have many indicators to look at and how to determine the exact outcome. but after continuing to trade for some time, I realized the importance of technical analysis in trading. it really is very helpful as long as it is fair to use and always stable or bitcoin itself.