Topic: trading purely based on luck. - page 4. (Read 504 times)
There's a bias in your experiment though, you were just lucky that your coin flips lead you to good trades and you got a profit but that doesn't mean that your experiment translates to a real thing for other traders besides, it's not worth trying to do it long-term or even just for the heck of it because you end up not having any control in your actions which for me isn't really a healthy thing as an individual to do.
I think there was a popular YouTube streamer that did something similar. He would basically flip a coin and go long a big $100K or $1M position just by the coin flip. Heads was long and tails was short.
And he actually made money. I can’t remember his nickname but I remember he traded in Bybit mostly. And he had tons of followers.
And he actually made money. I can’t remember his nickname but I remember he traded in Bybit mostly. And he had tons of followers.
If you trade on a demo account, your success rate can be higher. But when you trade on a real account, you may get different or higher results because it is a real market and you are using real money to trade.
Maybe you can profit from lucky results but it will only work for a while because market situations will change. And without analysis, you could find it difficult to find coins to trade with. You can try what you do on a demo account by implementing strategies and methods to see how high the success rate is.
However, trading requires analyzing market conditions and finding the coins. That is something every trader needs to have so they can make a profit. And if there are still traders who trade without analysis, they will find it difficult to make a profit. And it's almost the same as gambling.
Maybe you can profit from lucky results but it will only work for a while because market situations will change. And without analysis, you could find it difficult to find coins to trade with. You can try what you do on a demo account by implementing strategies and methods to see how high the success rate is.
However, trading requires analyzing market conditions and finding the coins. That is something every trader needs to have so they can make a profit. And if there are still traders who trade without analysis, they will find it difficult to make a profit. And it's almost the same as gambling.
Not totally agree with trading purely based on luck because need make research, waiting moment for investing until another technical needed when investing or trading in cryptocurrency. Possibilities with gambling about purely based on luck because we have two choose only such us high or low and there are not technical or knowledge needed depend on purely luck or not. Faced difference thing between trading with real or demo account, have an easily way to earn much profit trough demo account trading but you can apply based on your lucky when trading with real account.
Trading is not purely based on luck but how smart when researching and make analyze, before start trading we have knowledge and not prefer based on luck with trading exactly in cryptocurrency.
Trading is not purely based on luck but how smart when researching and make analyze, before start trading we have knowledge and not prefer based on luck with trading exactly in cryptocurrency.
I don't see it as good for the long term, it is clearly said to be gambling.
I don't know also your basis on this is purely based on luck trading, like you have time on the day to open/close the trade? Or just a random time and just hit the open trade position button?
I don't know also your basis on this is purely based on luck trading, like you have time on the day to open/close the trade? Or just a random time and just hit the open trade position button?
I tried to trade without any analysis, relying only on luck, I was flipping a coin for each trade I entered.
If you consider trading is like gambling, depends on luckiness, you should never start your trading or if you are trading, stop it now.Trading is risky, more risky than investing and before you trade, you must learn many things about the market, fundamentals to technical things and you must be experienced in this market as an investor first.
When you are experienced enough in this market, you can understand it and can start trading because after understanding it, you can have better ability to control your emotion, psychology in this volatile market. Better control will help you to reduce your fomo, panic and bad decisions. Technical indicators can not help you if you have weak and unstable psychology and always let your fomo, panic controls your orders.
Your experiment is quite similar to the monkey-based experiment done by Buffet which is quite popular (IIRC). Basically, he based his trading on where his monkey shot a dart on a wall. But this experiment is quite flawed imo since the sample is just too small. CMIIW.
You can argue that it shows how managing or even removing your emotions can help you make more profits, but it doesn't mean you should flip a coin every time you trade without doing any analysis.
You can argue that it shows how managing or even removing your emotions can help you make more profits, but it doesn't mean you should flip a coin every time you trade without doing any analysis.
Bro, you are purely gambling, and this relies solely on your luck and whatever spirit associated with the coin you were flipping.
This is why I tell people that they could trade or gamble in the market, it depends on them. It seems easy for you to say since we have two options in trading, either we buy or we sell, but how we choose these options defines whether we trade or gamble, and in your own case, you don't need further explanation that you gambled. I've done this before, yet I admit to myself that I gambled, unlike you.
However, luck can't be entirely erased from trading according to my experience, but you need more professionalism to succeed in it.
This is why I tell people that they could trade or gamble in the market, it depends on them. It seems easy for you to say since we have two options in trading, either we buy or we sell, but how we choose these options defines whether we trade or gamble, and in your own case, you don't need further explanation that you gambled. I've done this before, yet I admit to myself that I gambled, unlike you.
However, luck can't be entirely erased from trading according to my experience, but you need more professionalism to succeed in it.
I considered this experiment a success mainly due to the fact that I was trading on a demo account with no emotional involvement, and the trades automatically closed when they reached their stop loss levels, and I did not make impulsive decisions to alter the stop loss orders.
But it's mainly — like you said, because of luck. Congratulations on being successful in these 3 days, but yea we all know that it'll be totally unreliable if anyone does it longer.
But yea, people should be trading using plans; not impulsively making decisions along the way. (Though making decisions off new information definitely ain't bad as well.)
wanna outline that the no emotional involvement really has a lot to do with your good trades, had you used real money here in this case, you will be emotionally attached its undeniable fact even if you say otherwise.
using real hard earned money will always make us sentimental.
therefore you should also try with real money if you want more credible experiment here in this regard.
I personally also always wonder why many also doing well in demos account, most of the newbies that trying demos account always came up having series of good trade decision but when it comes with real money. things changed pretty quickly, many are just outright losing, i guess fear of losing money is a thing and it influence a lot.
using real hard earned money will always make us sentimental.
therefore you should also try with real money if you want more credible experiment here in this regard.
I personally also always wonder why many also doing well in demos account, most of the newbies that trying demos account always came up having series of good trade decision but when it comes with real money. things changed pretty quickly, many are just outright losing, i guess fear of losing money is a thing and it influence a lot.
I tried to trade without any analysis, relying only on luck, I was flipping a coin for each trade I entered.
During three days, I initiated three trades per day, each with a small profit target and a stop-loss order. Surprisingly, these results outperformed the trades I made based on speculation and trend analysis.
it is important to note that the long-term outcome remains uncertain.
I considered this experiment a success mainly because I was trading on a demo account with no emotional involvement, and the trades automatically closed when they reached their stop loss levels, and I did not make impulsive decisions to alter the stop loss orders.
In real trading scenarios, emotional factors, such as adjusting stop-loss levels and increasing leverage, often lead to losses.
I don't agree with you on this Op, three days of a trading experiment is not enough time on a live to base your conclusion let alone your trading experiment was done using a Demo account, And as a trader, I'm telling you that you experience with Demo account will always differ with your experience when it comes to trading the live account, and you shouldn't base your conclusion with findings on Demo and it should be time-proven, and also try to further your experiment on a real or live account. During three days, I initiated three trades per day, each with a small profit target and a stop-loss order. Surprisingly, these results outperformed the trades I made based on speculation and trend analysis.
it is important to note that the long-term outcome remains uncertain.
I considered this experiment a success mainly because I was trading on a demo account with no emotional involvement, and the trades automatically closed when they reached their stop loss levels, and I did not make impulsive decisions to alter the stop loss orders.
In real trading scenarios, emotional factors, such as adjusting stop-loss levels and increasing leverage, often lead to losses.
This will make the difference if you trade with actual money. Demos are easy and it seems that whoever made them will really make you close to winning.
And that's encouraging because you think that you're ready for the actual trade and that's fine as long as you're just going to do with enough money and fine to lose it.
With that strategy you've just made, it's really all about luck and if it seems that the result is way better than with analysis, maybe that's how it goes for you but it won't be at most times.
And that's encouraging because you think that you're ready for the actual trade and that's fine as long as you're just going to do with enough money and fine to lose it.
With that strategy you've just made, it's really all about luck and if it seems that the result is way better than with analysis, maybe that's how it goes for you but it won't be at most times.
I tried to trade without any analysis, relying only on luck, I was flipping a coin for each trade I entered.
During a three day period, I initiated three trades per day, each with a small profit target and a stop-loss order. Surprisingly, these results outperformed the trades I made based on speculation and trend analysis.
it is important to note that the long term outcome remains uncertain.
I considered this experiment a success mainly due to the fact that I was trading on a demo account with no emotional involvement, and the trades automatically closed when they reached their stop loss levels, and I did not make impulsive decisions to alter the stop loss orders.
In real trading scenarios, emotional factors, such as adjusting stop-loss levels and increasing leverage, often lead to losses.
During a three day period, I initiated three trades per day, each with a small profit target and a stop-loss order. Surprisingly, these results outperformed the trades I made based on speculation and trend analysis.
it is important to note that the long term outcome remains uncertain.
I considered this experiment a success mainly due to the fact that I was trading on a demo account with no emotional involvement, and the trades automatically closed when they reached their stop loss levels, and I did not make impulsive decisions to alter the stop loss orders.
In real trading scenarios, emotional factors, such as adjusting stop-loss levels and increasing leverage, often lead to losses.
If that's work for you, then just continue. But still I don't want to rely on purely luck when it comes on trading.
Maybe you have a good winning percentage for now but time will come when relying on luck might instead give you a sudden loss and continuous losing streak. Maybe just try to make it balance, still relying on your luck while at the same time, still applying your trading analysis.
I don't consider your experiment as a success. From what I read, you only based on 3 days period. Tried to make it monthly.
With your random decision which you considered based on luck might work in short-term trading but it doesn't mean that this is a sustainable long-term strategy. Which is in the long run, trading success is typically based on skill, strategy, and analysis rather than luck.
That's why traders use different strategies in trading and behind those strategies they don't forget to have stop-loss orders to minimize losses.
So if you are trading for the purpose of a short-term period, it doesn't guarantee success over an extended period or let's say long term. If you luck knowledge, go for long-term trading and do DCA way.
That's why traders use different strategies in trading and behind those strategies they don't forget to have stop-loss orders to minimize losses.
So if you are trading for the purpose of a short-term period, it doesn't guarantee success over an extended period or let's say long term. If you luck knowledge, go for long-term trading and do DCA way.
Trading may be similar to gambling in some ways but the two are different from each other and I can tell you that while gambling is based on luck, trading on the other hand is based on skills because in trading, it is the skills of the trader that determine his total profits since he will be trading against other traders who are humans like him.
Unlike in gambling where it will be the gambler against the house and already there is a set house edge that places the interest of the casino against that of the gamblers and that has resulted in several house advantages against the gambler.
Unlike in gambling where it will be the gambler against the house and already there is a set house edge that places the interest of the casino against that of the gamblers and that has resulted in several house advantages against the gambler.
I tried to trade without any analysis, relying only on luck, I was flipping a coin for each trade I entered.
During a three day period, I initiated three trades per day, each with a small profit target and a stop-loss order. Surprisingly, these results outperformed the trades I made based on speculation and trend analysis.
it is important to note that the long term outcome remains uncertain.
I considered this experiment a success mainly due to the fact that I was trading on a demo account with no emotional involvement, and the trades automatically closed when they reached their stop loss levels, and I did not make impulsive decisions to alter the stop loss orders.
In real trading scenarios, emotional factors, such as adjusting stop-loss levels and increasing leverage, often lead to losses.
During a three day period, I initiated three trades per day, each with a small profit target and a stop-loss order. Surprisingly, these results outperformed the trades I made based on speculation and trend analysis.
it is important to note that the long term outcome remains uncertain.
I considered this experiment a success mainly due to the fact that I was trading on a demo account with no emotional involvement, and the trades automatically closed when they reached their stop loss levels, and I did not make impulsive decisions to alter the stop loss orders.
In real trading scenarios, emotional factors, such as adjusting stop-loss levels and increasing leverage, often lead to losses.
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