Luck or Skill

[Oscar Shumack]

Successful trading is the combination of everything. You need good technical skills along with necessary fundamental update. You need good MM and trading psychology. And to maintain all these you need discipline.

 

[Alexander Hudson]

Books are the best mentors. Read trading related books. Make simple rules of trading. Don't use anything complicated. You don't need friends to relate with. Just learn how to control emotions while trading.

 

[Eduardo Lucchese]

Loss is inevitable if you are trading in volatile market conditions. Part of the loss in overconfident trading. You have to trade with the possibility of the Forex market. And if one wants to make a 100% profit in this market of possibilities, it is never possible. Money management and risk management are not followed if it is overconfident. This is why many traders make losses.

 

[Gito Dinev]

I prefer skill rather than luck.

 

[Mark Dahl]

Luck will not give you anything in trading. But skill can deliver everything.

 

[dwaynegibbs]

I think it's more of a 50-50 situation in forex . No trader knows how the market would perform or how their strategies would work in a fluctuating market situation. I have seen so many skilled traders lose out on their accounts just because the trade they were banking on moved opposite to what they had desired for. There is so much unpredictability in the market that even a skilled trader goes clueless and messes up.

 

[David Marco]

Besides luck, you need proper hard work and knowledge about the market.

 

[dougbennett]

I don’t think that forex trading is about luck. If it was, it would have been called gambling. Forex trading is all about the skills you obtain with experience in the market. You need to do a lot of hard work to take advantage of the market opportunities.

 

[Kevin Vogt]

Though forex market is not a place for gambling. But unfortunately many are doing nothing but gambling. It is because of not having enough knowledge and skills.

 

[Kazumu Fukunaga]

Luck doesn't work all the time. It can work in few trades but not all the trades. Yes you can consider yourself lucky and you find forex trading. If you are not skilled enough that luck will not favor you.

 

[nicktheking]

Ofcourse it's the skill that helps in the longer run.

 

[Kevin Vogt]

To win forex market, one needs skills, knowledge and experience. Risk comes from not knowing what you are doing. Every trade you open you should have valid reasons. Out of assumptions you can win in forex market.

 

[kenthansen]

Skill is the ability to do something well. Luck is a chance happening or a good fortune. I think a successful trader needs a bit of both of them.

 

[soilacasa]

That’s what differentiates forex trading from gambling. You have to be knowledgeable and skilled to make money through forex trading. But you are not doing anything more than gambling if you don’t give proper attention to studying it and getting well versed in the market.

 

[Kevin Vogt]

Though forex market is not a place for gambling. But unfortunately many are doing nothing but gambling. It is because of not having enough knowledge and skills.

 

[Kazumu Fukunaga]

Though forex market is not a place for gambling. But unfortunately many are doing nothing but gambling. It is because of not having enough knowledge and skills.

Yes forex is not a game to gamble. It's a business that needs deep understanding and skills to get success. The earlier a trader will understand it the better for him.

 

[Eduardo Lucchese]

You cannot deduct the matter luck but you have to form your luck through developing skill. Most of the traders don’t try to do this.

 

[Oscar Shumack]

Your luck can be worse without skill so if you rely on luck without developing skill, it will be a blunt for you.

 

[Svetlana Loboda]

after a long time in this forum found someone who belongs from Ghana , welcome in there and have a good journey.

 

[SaadBinToha]

Both luck and skill matter. I am saying it because many skilled traders are facing hurdle to make profit due to luck.