Is trading all about luck?

[ajiz138]

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.

That's right, knowledge is everything, not just in trading but in all aspects of our lives. With knowledge everything will run better than before and this is something we must really pay attention to.

Without knowledge, perhaps we will not find a way to walk towards the success we have always wanted. And with that knowledge it will guide our every step to success. For me everything will be fine if we have knowledge.

[alltalk]

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.

Some people may consider future trading is about luck because of its risk. In future, sometimes we lose all our funds if we make the wrong prediction in the price. But we can get a lot of profits whenever we successfully predict the price. It is so much different than the spot trading, we won't lose all the funds as long as the coins are still listed on the exchanges. We only experience the decrease of the value of our assets in spot trading.

Sure, investing in shitcoins is also about luck. If they can be listed on top exchanges, we can get huge profits. But if they become dead coins, we lose all our money. It is not so different than future trading, the risk is losing all the funds if we make a mistake.

[Captain Corporate]

Saying that "if you know what you are doing, then it is not about luck" is a bit of a cheap shot, because even professionals who spent decades in the markets could make mistakes, its just natural, and sometimes you think you have a shot and you take and you turn out to be right. Even people who obsessed over some trades, and turned out right and made billions? Those people were still lucky, because things could have gone any way. The best thing to realize is that, while knowing what to do is %90 of the job, saying that luck plays zero role would be unfair and it would be very logical to assume that everyone needs a little luck on their side at all times.

[taufik123]

-snip-
Sure, investing in shitcoins is also about luck. If they can be listed on top exchanges, we can get huge profits. But if they become dead coins, we lose all our money. It is not so different than future trading, the risk is losing all the funds if we make a mistake.

The important thing is not to put all the money you have into Shitcoin, it will give you a tremendous loss typing just so the shitcoin will be thrown away without listing on any Cex.

It is necessary to provide an appropriate allocation if you want to enter shitcoin and not be too FOMO to enter at a high price.
Luck must be created with full awareness and must be done with research before entering shitcoin.

[Jamal Aezaz]

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.

Without knowledge we cannot think about our success because it is the key to success but sometimes people learn everything but still they are in loss and the reason is that their luck does not co-operate and the selected coin decreases a lot.

Sometimes people make lots of money from a coin which is considered less worthy and sometimes the top coin cannot give you anything which means that knowledge is not everything but luck also has the power to give you something better. Getting knowledge is necessary but also remember that if you are not lucky then you cannot earn well so therefore try your best to get Knowledge but don't get distressed if you don't succeed because trying again can be more worthy for you.

[Faisal2202]

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.

Luck is a religious topic, I might not be able to use the right words to link luck with religious beliefs, but it is linked. And yeah I can't agree more with you that, if you do not put in the effort then you can't get what you are working for. I mean in your luck, you have to eat an apple. You still have to make some effort, like chewing it.

Everyone has to make some effort in order to get something even written in his luck. And I said not everything is written in luck, but a few things, like food, death,, etc. (I don't know any other thing besides these two). So, in order to get profit from the trade, you have to be logical about it, must have some skills, or knowledge as without knowledge you can only make one or two trades with profits out of 20 trades. Only in spot.

[SmartGold01]

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.

Without knowledge we cannot think about our success because it is the key to success but sometimes people learn everything but still they are in loss and the reason is that their luck does not co-operate and the selected coin decreases a lot.

Sometimes people make lots of money from a coin which is considered less worthy and sometimes the top coin cannot give you anything which means that knowledge is not everything but luck also has the power to give you something better. Getting knowledge is necessary but also remember that if you are not lucky then you cannot earn well so therefore try your best to get Knowledge but don't get distressed if you don't succeed because trying again can be more worthy for you.

In trading one must not try once and quit if you think that those who succeeded in trading today tried just once then we can't have lot of traders out there. People are excelling into trading today because tried ones and they fails then they have to seat up and strategized themselves more better and acquire all necessary skills to sharpen their trading career even as that we can't still deal away with luck because is the major key player here.

[|MINER|]

Here I want to say that in terms of future trading we can say it depend on luck but in case of general spot trading I don't want to say it depend fully  luck here if the trader make good analysis skill they can earn use by their skill. But those public who don't have any skill and want to trade in that case I will say trading all about luck like the gambling,

[Rubel007]

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.

Without knowledge we cannot think about our success because it is the key to success but sometimes people learn everything but still they are in loss and the reason is that their luck does not co-operate and the selected coin decreases a lot.

Sometimes people make lots of money from a coin which is considered less worthy and sometimes the top coin cannot give you anything which means that knowledge is not everything but luck also has the power to give you something better. Getting knowledge is necessary but also remember that if you are not lucky then you cannot earn well so therefore try your best to get Knowledge but don't get distressed if you don't succeed because trying again can be more worthy for you.

In trading one must not try once and quit if you think that those who succeeded in trading today tried just once then we can't have lot of traders out there. People are excelling into trading today because tried ones and they fails then they have to seat up and strategized themselves more better and acquire all necessary skills to sharpen their trading career even as that we can't still deal away with luck because is the major key player here.

A trader must try again and again. Many times a trader cannot be successful even if he is skilled in trading. And if one gives up after trying once or twice, he will never reach his goal. I can compare trading with luck but in all cases luck cannot play any role. If one cannot do analysis especially while doing spot trading then he will not get the desired result in trading. A trader can get good profit by applying skill and experience and strategy. So in all cases I cannot compare trading with luck.

[SmartGold01]

In trading one must not try once and quit if you think that those who succeeded in trading today tried just once then we can't have lot of traders out there. People are excelling into trading today because tried ones and they fails then they have to seat up and strategized themselves more better and acquire all necessary skills to sharpen their trading career even as that we can't still deal away with luck because is the major key player here.

A trader must try again and again. Many times a trader cannot be successful even if he is skilled in trading. And if one gives up after trying once or twice, he will never reach his goal. I can compare trading with luck but in all cases luck cannot play any role. If one cannot do analysis especially while doing spot trading then he will not get the desired result in trading. A trader can get good profit by applying skill and experience and strategy. So in all cases I cannot compare trading with luck.

Everyone has there own way of view and what they need I mean the kind of results they wanted in trading and for them to have such results they needs to develop themselves to put that smile on their faces by exploring the best technique for effective trading. Like I said luck is also needed even though that person knows all the fundamentals that concerns trading yet has no luck then it could be very hard for that person to succeed.

[vegasus]

It cannot be denied that luck is quite an influence on trading. However, luck is not all about the things that make us successful in trading. Luck is a bonus for what we have tried and done. It's impossible for us to succeed because of continuous luck, right? Luck usually only happens a few times. but if we do it many times, it's not just luck, but we do have the ability to do it very well, which maybe we didn't expect.

In essence, tarding is a unity starting from thorough preparation both in terms of:
- Psychology (emotional management)'
- Funds (money readiness and financial management)
- Knowledge (readiness of knowledge and insight related to various things to develop the most appropriate strategy for us as traders)
- Risk management (This is also very important when having risk management to reduce the possibility of loss and increase the possibility of gain)

Those lists are part of some other factors.

Well, this combination of things can at least help us to be better prepared to carry out trading. And if we succeed, it will be because of our efforts. Even though there is a luck factor, it is an additional factor that makes us more successful, but it is not continuous with luck, right?

unless we have no readiness at all in trading and we win occasionally, that's just because of luck. But I personally believe that it is better if we are better prepared before we place the bet. Because luck cannot be relied on, it's just a bonus. So we can't rely on profits from trading just because of luck.

Read also more information in here:
https://www.linkedin.com/pulse/trading-success-quantifiedstrategies-bae9c
https://www.investopedia.com/articles/trading/10/top-ten-rules-for-trading.asp

[milewilda]

In trading one must not try once and quit if you think that those who succeeded in trading today tried just once then we can't have lot of traders out there. People are excelling into trading today because tried ones and they fails then they have to seat up and strategized themselves more better and acquire all necessary skills to sharpen their trading career even as that we can't still deal away with luck because is the major key player here.

A trader must try again and again. Many times a trader cannot be successful even if he is skilled in trading. And if one gives up after trying once or twice, he will never reach his goal. I can compare trading with luck but in all cases luck cannot play any role. If one cannot do analysis especially while doing spot trading then he will not get the desired result in trading. A trader can get good profit by applying skill and experience and strategy. So in all cases I cannot compare trading with luck.

Everyone has there own way of view and what they need I mean the kind of results they wanted in trading and for them to have such results they needs to develop themselves to put that smile on their faces by exploring the best technique for effective trading. Like I said luck is also needed even though that person knows all the fundamentals that concerns trading yet has no luck then it could be very hard for that person to succeed.

Results are something that you cant really be able to know on where it would really be that ending up on which it would really be that somewhat very normal in trading due to unpredictability of the market on which it would really be something that understandable. Luck would might still be that relevant in speaking about trading but doesnt mean that you would really be that heavily relying on it. We do know that when it comes into this manner on which you would really be that needing up to have those best approach about knowing technical and fundamentals on which this is something more better and recommended rather than on making yourself that being delusional and really thinking that you could rely on luck.

[pieppiep]

Here I want to say that in terms of future trading we can say it depend on luck but in case of general spot trading I don't want to say it depend fully  luck here if the trader make good analysis skill they can earn use by their skill. But those public who don't have any skill and want to trade in that case I will say trading all about luck like the gambling,

Luck does seem like the main factor in making a profit from Cryptocurrency, but you need to know, not all luck can be obtained easily. Trading requires time and energy to analyze price movements of the coin you want to buy. Unless we are whales who have unlimited money, we can buy coins without having to make too many considerations. In contrast to gambling, which in my opinion has a higher risk, when we guess wrongly about coin price movements, all the capital we use will be liquidated and lost instantly.

[LogitechMouse]

Re: Is trading all about luck?

While luck can help sometimes, luck alone isn't enough for a trader to become a successful one. There are 3 key factors that a trader must have in order for them to become successful.
1. Skill
2. Strategy
3. Discipline.

I guess there's no need for a long explanation for those 3 because we know it already. We need to have the skills needed, and aside from that, we need to have a strategy that will help us in our trading journey. The most important one is the discipline because being disciplined means not letting your emotions make your trades. Being disciplined means sticking to your plans to avoid further losses.

[Roseline492]

Some people may consider future trading is about luck because of its risk. In future, sometimes we lose all our funds if we make the wrong prediction in the price. But we can get a lot of profits whenever we successfully predict the price. It is so much different than the spot trading, we won't lose all the funds as long as the coins are still listed on the exchanges.

Sure, investing in shitcoins is also about luck. If they can be listed on top exchanges, we can get huge profits. But if they become dead coins, we lose all our money. It is not so different than future trading, the risk is losing all the funds if we make a mistake.

Yeah that's actually the deference between spots trading and future trading because I consider future as the most risky trading compare to spot because just like you said in future trading knowledge is fundamental because you need to understand the technical analysis and also be able to understand the trend of the chart so you can be able to have an insight of the market direction and of course is totally not advisable for people who start cryptocurrency new because in future trading is very easy for someone to blow his account.

In other words spot is somehow easy because of how it works and there is no way someone will lose his funds while doing spot trading but however the only thing about spot is that if the market is going against your entry point you will have to wait till you start running on profit before you could sell and wait for another entry point, so the only risk there is if someone invest on a wrong coin and it rug pulled.