Is trading all about luck?

[SmartGold01]

@Stompix you are trying to make all things looks so complicated for me for your answer by saying trading is gambling. Is there any book sold out there that speaks about becoming successful in gambling?

Just go to any major bookseller and search for a guide or course on gambling there are hundreds of them, just as there are hundreds for lottery tickets and thousands for poker courses or blackjack.

Traders who think they have found a way to corner the market are just falling in the same category as gamblers who have found a "system", 90% of traders fail in the market, and trading companies are trying to hide that but in reality, there is no way to save your ass when the market goes wrong completely in a way never seen before, think of the great crashes when traders where committing suicide and think of events like oil going negative.

Every single bet is just your gamble that past performance as described by an indicator would be the same in the next day or month.
It's as simple as that!

Crypto traders are even worse, they fail to understand that most of those trades are not profitable because whatever TA they use, they are profitable because cryptos have gained in value immensely, even a hamster trading cryptocurrencies would have made money in a bull run.
https://www.npr.org/2021/09/25/1040683057/crypto-trading-hamster-goxx-warren-buffet-s-p-500

Anyone who says it's about knowledge and skill, good, show me the price for Bitcoin in a week a month, and a year based on your TA, and after first wondering why people despite using TA come with different answers let's see how off they were! Of course, traders don't like the comparison, it hurts their ego, but that's what they do, they gamble based on the past price just as people gamble based on Portugal's previous euro performance.

Well I believe we all learn every day and for that I can't really dispute what you said because I know you are reputed user the other forum and from your experience I believe you are correct, but however, gambling is more riskier than trading. All you said is correct there is no doubt but from what I sights people tends to avoid gambling than trading except for binary trade which is much dangerous than gambling itself. For cryptocurrency trading we know when price drop the value of token and coin remains the same but the unit and quantity also remain except for the price drop.

[milewilda]

Dealing up with trading isnt really that heavily relying on luck just like on gambling does but somehow in speaking about the need of it then it would really be that significant
because on the moment that you would really be making up some positions and no matter how good your technical and fundamental approach but still things turns out
to go south then everything would really be that useless. This is why it would really be that still significant but not something that you could heavily rely on.
Dont make yourself fixated on something which isnt really that depending into it 100%.

[UNIVERSE]

Trading depends on predictions, but luck plays a big role at times as the market fluctuates constantly. Because if you don't have a good fortune you can't think of a potential and you will make wrong predictions. And if you have a good luck you can automatically make a possible prediction.

Traders make prediction based on their analysis or research, they don't only guess it without any reason. I think it is not about luck but it is about knowledge because we make analysis or research with our knowledge. If we have no knowledge, we will never can do analysis or research. Anyway, whether someone has a luck or not, everyone can make a prediction. But the prediction with no knowledge will be totally like gambling. This is not a characteristic of a trader who predict with zero knowledge.

While everyone accepts that luck is involved in gambling, no one wants to accept that it depends on luck in trading.  But I feel that sometimes luck is needed in trading otherwise nothing good can be gained from trading. But luck doesn't matter when it comes to holding.

It is because luck in gambling is much different with the luck in trading. In gambling, you don't need anything when you play Slots. You don't need analysis or even research. But in trading, even you want to have luck, you can't do it if you have no knowledge at all. We can't deny that trading requires proper knowledge.

[Faisal2202]

In other way round what they did is random investment all known to be scalping, during scalping when you buy any assets along the line the assets increases in price you could decide to sell and take profit to wait for another good entering point that could be for them to buy another good coin.

Luck is indeed needed when you are trading, many people have different POVs about luck based on what religion they belief in or not. For example, as a Muslims, we know our fortune has been written like how much we will make and when we will die etc. But we can change our luck with effort and with prayer. So when we loss or gain profit on the basis of luck we say it was obvious, for example you did not performed any analysis and took entry.

That coin pumped due to some logical reason which you did not knew about, but you gained profit it was good luck, if you did not gained profit but loss then it was also in your luck to lose the funds. In such situation our religion teaches don't regret on what you have lost. If its lost then it was not in your destiny. I might be wrong in some points as I am not a scholar just shared my religious pov. Simply trading is not only based on luck you have to do TA and FA in order to make every or most of your trades successful.

[ajiz138]

While everyone accepts that luck is involved in gambling, no one wants to accept that it depends on luck in trading.  But I feel that sometimes luck is needed in trading otherwise nothing good can be gained from trading. But luck doesn't matter when it comes to holding.

It is because luck in gambling is much different with the luck in trading. In gambling, you don't need anything when you play Slots. You don't need analysis or even research. But in trading, even you want to have luck, you can't do it if you have no knowledge at all. We can't deny that trading requires proper knowledge.

Luck is something that I think will always be present in our lives, but we have to be able to distinguish whether what we do is something that depends entirely on luck or not.

As you said, luck here is different from gambling. In gambling it could be said that 99% or even 100% depends on luck, especially when it comes to slot games. However, in trading we do business such as analyzing and that is what invites luck.

[SmartGold01]

In other way round what they did is random investment all known to be scalping, during scalping when you buy any assets along the line the assets increases in price you could decide to sell and take profit to wait for another good entering point that could be for them to buy another good coin.

Luck is indeed needed when you are trading, many people have different POVs about luck based on what religion they belief in or not. For example, as a Muslims, we know our fortune has been written like how much we will make and when we will die etc. But we can change our luck with effort and with prayer. So when we loss or gain profit on the basis of luck we say it was obvious, for example you did not performed any analysis and took entry.

That coin pumped due to some logical reason which you did not knew about, but you gained profit it was good luck, if you did not gained profit but loss then it was also in your luck to lose the funds. In such situation our religion teaches don't regret on what you have lost. If its lost then it was not in your destiny. I might be wrong in some points as I am not a scholar just shared my religious pov. Simply trading is not only based on luck you have to do TA and FA in order to make every or most of your trades successful.

Talking about religion, I must say there is no connection that link luck from any to trading, what I know and think about is proper guidance research and effective focusing to know what you are doing. I am also I believer but that doesn't chained to luck as everyone is luck of their own depending on how useful they are to themselves. Luck is random it may come to you or the next person it does not defines when it gonna come to you because if you do you would be more prepared waiting for it in a bigger way to celebrate it but this, it comes unannounced or unknown but you would be surprised that what you did has given you something you didn't expect or hope for. That's why I removed religious in most of the things I do, when it's time to speak with my creator I go directly or i go where it's meant to be and do my religious activities.

[RockBell]

Dealing up with trading isnt really that heavily relying on luck just like on gambling does but somehow in speaking about the need of it then it would really be that significant
because on the moment that you would really be making up some positions and no matter how good your technical and fundamental approach but still things turns out
to go south then everything would really be that useless. This is why it would really be that still significant but not something that you could heavily rely on.
Dont make yourself fixated on something which isnt really that depending into it 100%.

I don't think I see why you are a trader and you be praying for luck it does not sound right to me because you luck should be your analysis because if trading was based on luck then no body would have asked anyone to learn how to do analysis. Because even with the analysis you can not get hundred percent but how you take note of things and pay attention is very important. Their is no way you do all this thing without knowledge. Because people that are making profits well you won't tell me that they are relying only on luck and do things carelessly trading does not work that way. It is beyond what we imagine at times. It is better to learn.

[Jamal Aezaz]

Sometimes I wonder if trading is about luck because a fellow said she has luck on a single trade and made fortune out of it, this now occurred to me to raise this topic because I know that trading is not something that works with possibility unlike gambling that works as luck.

Trading is about both luck and knowledge because your  knowledge is necessary in order to choose a profitable coin while the market conditions will remain better if you are lucky. Knowledge is necessary in trading and we should not completely focus on luck because our knowledge can be helpful to avoid scam projects.

Trading requires skills and knowledge and sometimes your luck is also needed to make you profitable so I think we cannot say that luck is not involved in trading but I will suggest that first learn well, get knowledge, choose coins according to your knowledge so you will see that your knowledge and luck both play a vital role in your success.

[koang]

Luck is indeed needed when you are trading, many people have different POVs about luck based on what religion they belief in or not. For example, as a Muslims, we know our fortune has been written like how much we will make and when we will die etc. But we can change our luck with effort and with prayer. So when we loss or gain profit on the basis of luck we say it was obvious, for example you did not performed any analysis and took entry.

That coin pumped due to some logical reason which you did not knew about, but you gained profit it was good luck, if you did not gained profit but loss then it was also in your luck to lose the funds. In such situation our religion teaches don't regret on what you have lost. If its lost then it was not in your destiny. I might be wrong in some points as I am not a scholar just shared my religious pov. Simply trading is not only based on luck you have to do TA and FA in order to make every or most of your trades successful.

It sounds reasonable, but belief in luck and coincidences is erroneous.
In your case, I wouldn't say that this is luck, but Blessing. There are no coincidences and luck in the universe.
Trading is a science of probability based on numbers and statistics, and a good trader will analyze and research properly, but if done incorrectly it is gambling.

[SamReomo]

Sometimes I wonder if trading is about luck because a fellow said she has luck on a single trade and made fortune out of it, this now occurred to me to raise this topic because I know that trading is not something that works with possibility unlike gambling that works as luck.

Sometimes trading also works with someone's luck and the one fellow who said that she made fortune because she was lucky wasn't a lie, but in most cases luck isn't much needed when to have a good trading plan and a proper trading strategy.

I've been a trader for long time and I have never relied on luck when it comes to trading. I'm not sure about futures traders but spot traders don't really have to depend on luck to have profitable and winning trades because a proper plan with a proper strategy is enough.

[SmartGold01]

Sometimes I wonder if trading is about luck because a fellow said she has luck on a single trade and made fortune out of it, this now occurred to me to raise this topic because I know that trading is not something that works with possibility unlike gambling that works as luck.

Trading is about both luck and knowledge because your  knowledge is necessary in order to choose a profitable coin while the market conditions will remain better if you are lucky. Knowledge is necessary in trading and we should not completely focus on luck because our knowledge can be helpful to avoid scam projects.

Trading requires skills and knowledge and sometimes your luck is also needed to make you profitable so I think we cannot say that luck is not involved in trading but I will suggest that first learn well, get knowledge, choose coins according to your knowledge so you will see that your knowledge and luck both play a vital role in your success.

Yes knowledge is power and to succeed in trading we need knowledge and skills, the skills comes after having accumulated enough knowledge to start with, now luck can come when you invested in a coin that pump so hard to some certain price level and at this point you may decide to sell it off and make your profit from it at this point we can say is luck.

[milewilda]

Dealing up with trading isnt really that heavily relying on luck just like on gambling does but somehow in speaking about the need of it then it would really be that significant
because on the moment that you would really be making up some positions and no matter how good your technical and fundamental approach but still things turns out
to go south then everything would really be that useless. This is why it would really be that still significant but not something that you could heavily rely on.
Dont make yourself fixated on something which isnt really that depending into it 100%.

I don't think I see why you are a trader and you be praying for luck it does not sound right to me because you luck should be your analysis because if trading was based on luck then no body would have asked anyone to learn how to do analysis. Because even with the analysis you can not get hundred percent but how you take note of things and pay attention is very important. Their is no way you do all this thing without knowledge. Because people that are making profits well you won't tell me that they are relying only on luck and do things carelessly trading does not work that way. It is beyond what we imagine at times. It is better to learn.

If you are someone whose a noob and just that directly seeing those huge trade gains on the internet then you would really be that definitely be having that kind of thinking that this is some
sort of gambling on which you would really be needing up that luck for you to be able to have that good chance on making good trades. Just like on what i had said above that luck would really be that still something significant on which we know that no matter how good your TA or FA is but if the market would really be going into the opposite side then it would really be that still useless.
This is why it would really be always best that you should really know on how to deal with it and not to make yourself that too delusional about making money too easily.

[UNIVERSE]

Luck is something that I think will always be present in our lives, but we have to be able to distinguish whether what we do is something that depends entirely on luck or not.

I don't deny the luck factor, it is a part of our success in life. However, we must do anything in the right way if we want to get the luck. If we do it in the wrong way, it is impossible to get the luck. To do it in the right way, we must have proper knowledge. So that's why knowledge has a crucial role in this matter.

As you said, luck here is different from gambling. In gambling it could be said that 99% or even 100% depends on luck, especially when it comes to slot games. However, in trading we do business such as analyzing and that is what invites luck.

Of course, in certain gambling games, it totally relies on the luck. But in trading, knowledge is the most important thing because it determines the success in trading. Even the luck is a part of trading but we can't rely on the luck to succeed if we have lack of knowledge. This is the different, knowledge is everything in trading.

[SmartGold01]

Sometimes I wonder if trading is about luck because a fellow said she has luck on a single trade and made fortune out of it, this now occurred to me to raise this topic because I know that trading is not something that works with possibility unlike gambling that works as luck.

Sometimes trading also works with someone's luck and the one fellow who said that she made fortune because she was lucky wasn't a lie, but in most cases luck isn't much needed when to have a good trading plan and a proper trading strategy.

I've been a trader for long time and I have never relied on luck when it comes to trading. I'm not sure about futures traders but spot traders don't really have to depend on luck to have profitable and winning trades because a proper plan with a proper strategy is enough.

Well I know future trading is not about luck but is about the market forces and how the news affects the traded currencies to effects on the market. This includes those who trades on Binary options also do not need luck but rather need news to control market positively to have good results.
Those who relies on luck are those who are investing into shitcoin and would always prayed for fortune to hit their coin price so high so that they could sell and make good profits.

[Hamza2424]

Hmm, If trading is all about luck when what's the difference between trading and gambling/betting, i think Luck can be considered as a minor part of your trade as, yup i do consider if you are lucky enough to choose or target a good asset it can increase the chances of your trades success. But if trading is completely about Luck then why are there so many patterns, strategies, risk management, and most importantly psychology?

All these terms together create a foolproof analysis in which traders spend the maximum of their time to shine their skills for better decision-making and trade execution.