Is trading all about luck?

[Charles-Tim]

It is reality that if someone learns about trading then just learning cannot give him huge profit because luck also plays a vital role in earning money and those who are wealthy are also lucky people.

Not that a trader will trade for once and stop trading. If a trader trade at first time and make money, that can be considered as luck. But he will continue to trade. Knowledge can help him minimize losses and there is nothing called luck about that again if he continues to trade. If he is trading and making money from trading, that is no more luck. It is knowledge and experience.

[jeraldskie11]

It is reality that if someone learns about trading then just learning cannot give him huge profit because luck also plays a vital role in earning money and those who are wealthy are also lucky people.

Not that a trader will trade for once and stop trading. If a trader trade at first time and make money, that can be considered as luck. But he will continue to trade. Knowledge can help him minimize losses and there is nothing called luck about that again if he continues to trade. If he is trading and making money from trading, that is no more luck. It is knowledge and experience.

Yeah I agree. Relying our trade with luck is gambling, because you're relying on chances. If we continue to rely our trades with luck, in the long run our funds get liquidated. Making profit in a couple of trades does not mean you're profitable trader. A profitable trader for me has trading plan and have discipline, and of course still encounter loses.

[Faisal2202]

Bad news or FUD arises when all the analysis goes well, and this becomes an obstacle for traders who have done the analysis from the beginning.
But trading is not only about luck because it only plays a role in the short term and for the long term still traders who do good and consistent analysis will still be struggling.

There are several factors that can affect trading such as risk management, trading strategy, knowledge and expertise in trading analysis,
and trading psychology. Luck is only a small part.

You are right, it's a small part while other psychologies are the ones that matter most. A person should have good control over his finances and mental health. A person should learn the psychology of finance and of risk management. I think knowledge of macro and micro economics is also necessary for a person to idealize the concept of trading and how things work. Luck is just sitting there to take the credit when things goes wrong.

I also think people use the term luck to blame it not there trades, haha. I know I am the one said sometimes luck is involved and I stand with it. But I also think people blaming luck for bad trade are just want to put there pressure on something else not on themselves.

[JunaidAzizi]

If just knowledge was useful then an expert will never experience losses in their life and will continuously earn

As you are saying that those people who have knowledge and face losses, then why are they facing such losses? Because if they have knowledge, they would make profits continuously. But I do not agree with this. Those people who are facing losses do not necessarily mean that they do not believe in luck, and that's why they are losing money. Maybe they are missing something or making some errors in their knowledge, and that's why they face losses. I am not saying that only knowledge is valuable, but I am also in favor of luck. However, luck plays a small and limited role in all of this, and that's what I am saying.

[Fivestar4everMVP]

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.

Most time I do realized that those saying about luck is not actually luck in trading rather the luck comes when they invested in a random coin/token out there and possibly the token gain much attention over the media which made the price to surge above what they initially invested, so they decides to sell to have a good cash out at this point they would term it as someone who traded and make profits from it.

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.

This is a great question to ask, and to give a straight forward answer based on what I think of  course, I would say that we need good luck in everything we do in life, most especially when it has to do with things that relates to the future, or have a future result which I can't really tell or predict.

So, when it comes to trading, aside getting a good trading skill, one still need some atom of luck to be able to make the right choices at all times, understand that luck is of different levels, and the level of luck needed to win in gambling, is quite  larger and different from that which is required to win trades, most especially when the trader is skilled, skill is like what assists luck, making things easier.

[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.

Most time I do realized that those saying about luck is not actually luck in trading rather the luck comes when they invested in a random coin/token out there and possibly the token gain much attention over the media which made the price to surge above what they initially invested, so they decides to sell to have a good cash out at this point they would term it as someone who traded and make profits from it.

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.

This is a great question to ask, and to give a straight forward answer based on what I think of  course, I would say that we need good luck in everything we do in life, most especially when it has to do with things that relates to the future, or have a future result which I can't really tell or predict.

So, when it comes to trading, aside getting a good trading skill, one still need some atom of luck to be able to make the right choices at all times, understand that luck is of different levels, and the level of luck needed to win in gambling, is quite  larger and different from that which is required to win trades, most especially when the trader is skilled, skill is like what assists luck, making things easier.

Yeah you are correct skills is something mostly needed in trading and is like a kind of pioneer to those who are trading. When you are skilled it makes it very easier to succeed in trading especially be able to receive information from various sources with information about any projects it gives you the edges to manage your trade anytime any moments. For instance if a coin that is trading or you are holding and you join their community it would enable you to stay up-to-date about the latest happening or any changes that is to come within their ecosystem.

[Jamal Aezaz]

Yeah you are correct skills is something mostly needed in trading and is like a kind of pioneer to those who are trading. When you are skilled it makes it very easier to succeed in trading especially be able to receive information from various sources with information about any projects it gives you the edges to manage your trade anytime any moments. For instance if a coin that is trading or you are holding and you join their community it would enable you to stay up-to-date about the latest happening or any changes that is to come within their ecosystem.

Knowledge and skills are very important in order to get something better from trading otherwise trading will not be profitable for you because trading requires your time, your knowledge, your skills as well as the ability to analyze the market and buy and sell whenever you feel the situation is good.

Just buying and selling is not everything but accurate time is very much important to buy and sell to make your profit increase therefore one should remember that if the market is in a bearish phase then they should give a time to learn more because at that time making good revenue is hard.

[UNIVERSE]

The help of luck is definitely needed to be profitable in trading. No matter how much knowledge you gain about trading, you will never be able to predict the crypto market accurately. Because the crypto market is volatile. In this case, both your knowledge and luck should be within your reach.

Luck isn't a crucial part in trading although it can be helpful. If you have enough knowledge and experience, you can increase the chance to gain profits. When you still get losses, it means there is still something wrong with the strategies. You may make a mistake in choosing the coins, or you set unrealistic target for taking profits. It is all about the knowledge and experience. You must know the effective ways to gain profits when you are experienced enough.

[bee]

At some point, yes, trading ends up hoping to be lucky that the analysis you do will be correct.
At least chart reading skills make your entries have reasonable basis and have the opportunity to increase your profit ratio in the long term. You will always have trading opponents who are also looking to gain profits over you using their analytical skills (which you don't know about).

[bayu7adi]

At some point, yes, trading ends up hoping to be lucky that the analysis you do will be correct.
At least chart reading skills make your entries have reasonable basis and have the opportunity to increase your profit ratio in the long term. You will always have trading opponents who are also looking to gain profits over you using their analytical skills (which you don't know about).

The point is that luck exists... but whether it is on our side or on someone else's side, we don't know... especially for the future...
Many people do analysis, draw charts, understand news and even understand platform movements... but they sometimes also fail in trading because luck is not on their side...
Meanwhile, there are those who decide to trade just for fun, but because they are lucky, this makes them make a profit...

We can't rely entirely on luck, technical analysis, fundamentals and trading strategies also influence our final results... so all the strategies we use basically only increase the chances of achieving that luck... the greater the opportunities, the easier it will be for us get that luck to take profit

[saprakib]

It is reality that if someone learns about trading then just learning cannot give him huge profit because luck also plays a vital role in earning money and those who are wealthy are also lucky people.

Not that a trader will trade for once and stop trading. If a trader trade at first time and make money, that can be considered as luck. But he will continue to trade. Knowledge can help him minimize losses and there is nothing called luck about that again if he continues to trade. If he is trading and making money from trading, that is no more luck. It is knowledge and experience.

I think you were meaning that a beginner who trade at his/her first could depend on his luck. However you said it true for the beginner and a professional trader don’t  depend on luck they always go through technically and archive their goal. We all know that luck is important but when you tried hard and get enough knowledge behind it luck will support you surely. On other hard if you only depend on luck when you are trading it will be gambling for you. So that luck isn’t everything, It is knowledge which is everything for a professional trader.

[Mr. Magkaisa]

       -     If it is true that luck is the only basis to get profit in trading then what is the point of learning trading? Skills don't matter either, right? because you think that trading is all about.

So to others who think like this in trading, if I am one of you, you should just gamble, don't trade, do they mean the stock traders, they have the same mindset? this is just my question.

[Roseline492]

       -     If it is true that luck is the only basis to get profit in trading then what is the point of learning trading? Skills don't matter either, right? because you think that trading is all about.

That's exactly my question to those who believe that trading is all about luck because if it was to be true there wouldn't be any need to learn trading because everybody would have just venture into it with the hope that there luck will guide them through and make them to be making profit while trading, well those mindset is just for people who has not really been into trading.

However if somebody has really been into trading they would have actually understand that there is nothing like luck involve on trading the market because in trading the only chance you have in making profit is being able to understand the market movement and how do you understand the market movement is of course learning the fundamental and technical analysis to be able to have an understanding about it.

[SmartGold01]

Yeah you are correct skills is something mostly needed in trading and is like a kind of pioneer to those who are trading. When you are skilled it makes it very easier to succeed in trading especially be able to receive information from various sources with information about any projects it gives you the edges to manage your trade anytime any moments. For instance if a coin that is trading or you are holding and you join their community it would enable you to stay up-to-date about the latest happening or any changes that is to come within their ecosystem.

Just buying and selling is not everything but accurate time is very much important to buy and sell to make your profit increase therefore one should remember that if the market is in a bearish phase then they should give a time to learn more because at that time making good revenue is hard.

It depends on the trader or whom is involved because to me buying when dip is much more very important than when market is increasing, let say if you buy dip and expect the market to increase overnight could be hard especially bearish season is when to keep accumulating by applying DCA maybe during bull he could make huge profits, bear doesn't last for 1 year plus before bull comes. So as a good investors who is eager to make profits can hold till market turn the other way to make profits from their every single penny used in holding bitcoin.

[ZAINmalik75]

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.

No trading is not all about luck. A trader has to perform analysis and have to study the market before taking entry. If your follow friend made a fortune by luck in trading then it's a good thing but ask her how many times did she lost money from that fortune by trading on the basis of luck. It is just that she did not stop trading on luck after making a fortune. Therefore ask her how much she lost.

There are many people who invest in memecoins. People made millions of dollars by investing a few thousand in BRC 20-based memecoins. That can be called as luck or analysis-based trading who knows but the trader made a profit and he made more than he expected so making more profit than expecation can be counted as luck but we can not trade on the basis of luck that's not reliable.