Forex Zone - Forex Forum

What Does Luck Look Like in Trading?

Discussion started on Forex Education

  • Jr. Member
  • Posts: 52
  • Points: 1159
  • Likes Received: 40
  • Reputation: +0/-4

This time I want to share my experience and want to ask something from there, if you like, we can respond to each other.
So, when I first started trading, I fully relied on intuition and hoped for luck to make a profit. So I'm scalping and following the trend.
Once upon a Thursday, it turned out that the price changed not according to my prediction and I had already taken the wrong position, so that the floating negative was up to $25. I'd love to have my hand close the position, let go of the loss, and start trading again, but I still have faith in the money I'm about to let go.
Finally I closed the gadget and on weekends I didn't see the trading chart anymore, then I went for a walk and did a hobby.
Monday I still do not see the market because of busy work which is quite hectic.
So, when Tuesday came, I was surprised that the position I placed made a profit of $25, aka the price reversed again (almost 50$) in just 2-3 days.
I realized I could not use this luck continuously, until I learned techniques and indicators including learning a lot from forexzone forums.
What I want to ask is, what kind of luck have forumers experienced in trading?
How much influence does luck have on traders? (both beginner and professional traders)
Then whether the effect of luck is good for our next trading?

#1 - September 12, 2022, 02:04:28 PM

  • Hero Member
  • Posts: 3953
  • Points: 2959
  • Likes Received: 809
  • Reputation: +35/-32
for me luck is when our good abilities meet and the right opportunities
#2 - September 14, 2022, 10:16:26 AM

  • Full Member
  • Posts: 175
  • Points: 675
  • Likes Received: 0
  • Reputation: +0/-0
in my opinion in trading don't expect luck
#3 - November 15, 2022, 09:00:11 AM

  • Full Member
  • Posts: 160
  • Points: 660
  • Likes Received: 0
  • Reputation: +0/-0
I think beginners are often lucky
#4 - November 17, 2022, 03:56:12 AM

  • Hero Member
  • Posts: 2167
  • Points: 2732
  • Likes Received: 2
  • Reputation: +0/-11
Luck can play a role in forex trading, but it's not the determining factor for success. Successful traders rely on skills, knowledge, and experience. They develop sound strategies, manage risks, and make informed decisions. While luck may occasionally favor a trader, it's not a sustainable approach. Consistent profitability requires discipline, patience, and a long-term perspective. Instead of relying on luck, focus on improving your skills and understanding of the market. With the right mindset and approach, you can increase your chances of success in forex trading.
#5 - March 02, 2023, 12:59:37 PM


0 Members and 1 Guest are viewing this topic.