Is trading all about luck?

[debra]

It will be more save to trade with old coins they are more better and you hardly lose money when you are trading on old coins  such has Bitcoin, Monero, Litecoin, Dogecoin, and Ethereum, a friend of mine who is a trader was telling me that the most money he has lost is trading with all this new coins he said as a trader if you want to play a safe trade is better you trade with old coin he also said the coin that has given him much profit in trade is Bitcoin and Bitcoin is the the first crypto coin to be created and the best crypto coin in the world, Bitcoin has made a lot of people Rich and should be taken serious.

Agree. Old coins are safer because we can easily analyze them. Old coins also usually have big market caps, there are many investors involved in the coins. It has a big community and the old coins have listed in many big exchanges. With this condition, we don't feel worried about the future of old coins. Bitcoin, Ethereum, and Solana are some of old coins that are very recommended for holding. Bitcoin is always the first choice but we must have an intention to hold other coins, too. The top altcoins are the best choices, they are old altcoins with big market caps.

[Bobcrypto]

I doubt if there is anything like luck in trading crypto, may be if you enter a position and you are fortunate that the market start uptrends movements at time, then it might be regarded as luck. Trading involves learning the basic steps and as you continue trading, you getting some experience. It also requires listening to some of the most experienced traders through social network like Twitter and Telegram for improvements.
As a matter of facts, Trading is not about Luck but it is about acquiring knowledge for daily trading experience.

[doc]

I doubt if there is anything like luck in trading crypto, may be if you enter a position and you are fortunate that the market start uptrends movements at time, then it might be regarded as luck. Trading involves learning the basic steps and as you continue trading, you getting some experience. It also requires listening to some of the most experienced traders through social network like Twitter and Telegram for improvements.
As a matter of facts, Trading is not about Luck but it is about acquiring knowledge for daily trading experience.

I agree that trading is not a matter of luck because we have to do research and analysis about coins and markets. But sometimes we are also hit by luck when the market suddenly goes up and we can get big profits. It only comes once in a while, it will not come every day, so it is not something that is consistent and will always come. So instead we rely on analysis.

[milewilda]

I doubt if there is anything like luck in trading crypto, may be if you enter a position and you are fortunate that the market start uptrends movements at time, then it might be regarded as luck. Trading involves learning the basic steps and as you continue trading, you getting some experience. It also requires listening to some of the most experienced traders through social network like Twitter and Telegram for improvements.
As a matter of facts, Trading is not about Luck but it is about acquiring knowledge for daily trading experience.

I agree that trading is not a matter of luck because we have to do research and analysis about coins and markets. But sometimes we are also hit by luck when the market suddenly goes up and we can get big profits. It only comes once in a while, it will not come every day, so it is not something that is consistent and will always come. So instead we rely on analysis.

We cant be able to deny that luck would really be still that relevant when we do make trades specially on the time that you would be making entry and exits because there would really be those kind of timings on which we can really be able to say that it is really just that right we do make out such decision, but we do know when it comes to this aspect that trading is something
that you could really be able to apply some analysis or strategies on which you could be able to take advantage at least. Although it wont really be giving out guarantees or assurance
about precise pointing of possible movements but still it is much more better rather than on doing nothing at all.

[BitMaxz]

I will learn to understand and practice this video, because so far I have only relied on coin habits in the market, made analysis and relied a little on luck. because after all luck is also needed when trading. because sometimes we have made an analysis, it turns out that the market is correcting and we lose

If you think that trading is based on luck then you are not trading but gambling. We are all in the crypto market there are many competitors out there not only newbie traders but also pro traders that is why we need to analyze the market, chart, the current market condition is to know where the price action will bounce or breakouts that is why we lose most of us use the basic trading strategy without optimizing it pro traders knows what you doing and they can able to outrank you that is why you need to avoid them you should be able to notice this when you do it on backtesting tool until you found the right position where to entry and where to exit.
I'm not a pro trader but experience is the key not always winning at first I suffered to lose a lot of money due to skipping all trading guides and backtesting(want to earn right away) until I learned from my mistakes and made a good profit.

[B.Trader]

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. 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.

While trading strategies often rely on predictions based on analysis, market fluctuations can be unpredictable, and sometimes, luck does play a significant role. Even the best strategies can fail if market conditions suddenly shift due to unforeseen events, and at times, a stroke of luck can lead to unexpected gains.

[rizqillah]

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. 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.

While trading strategies often rely on predictions based on analysis, market fluctuations can be unpredictable, and sometimes, luck does play a significant role. Even the best strategies can fail if market conditions suddenly shift due to unforeseen events, and at times, a stroke of luck can lead to unexpected gains.

You are right, in trading we also need luck, because no matter how good we are at analyzing if suddenly the market experiences a sharp decline due to negative issues, our analysis will not work. In my opinion, luck does not always come, so many are trapped in trading when the market is not as we expected. Caution is always needed in trading. But It's really difficult..

[SmartGold01]

I will learn to understand and practice this video, because so far I have only relied on coin habits in the market, made analysis and relied a little on luck. because after all luck is also needed when trading. because sometimes we have made an analysis, it turns out that the market is correcting and we lose

If you think that trading is based on luck then you are not trading but gambling. We are all in the crypto market there are many competitors out there not only newbie traders but also pro traders that is why we need to analyze the market, chart, the current market condition is to know where the price action will bounce or breakouts that is why we lose most of us use the basic trading strategy without optimizing it pro traders knows what you doing and they can able to outrank you that is why you need to avoid them you should be able to notice this when you do it on backtesting tool until you found the right position where to entry and where to exit.
I'm not a pro trader but experience is the key not always winning at first I suffered to lose a lot of money due to skipping all trading guides and backtesting(want to earn right away) until I learned from my mistakes and made a good profit.

Smiles this is one thing possible in the trading journey we don't always make profits at the initial phase most time there will be several lose of funds and when you might have gotten irritated with the condition you often find yourself that is when you would now sit to follow up the normal process after you might have experienced series of lost in trading. One thing we should also note is that those people who are found to be pro today didn't just start instantly or a day it was a gradual process and also their experiences brought them so close to their destinations were we thought they had arrived.

[BitMaxz]

Smiles this is one thing possible in the trading journey we don't always make profits at the initial phase most time there will be several lose of funds and when you might have gotten irritated with the condition you often find yourself that is when you would now sit to follow up the normal process after you might have experienced series of lost in trading. One thing we should also note is that those people who are found to be pro today didn't just start instantly or a day it was a gradual process and also their experiences brought them so close to their destinations were we thought they had arrived.

Yeah, experience also helps a lot, and loss in trading also helps I guess but it can be prevented that is why there's a paper money and backtesting tool.
I always test my skills even if I don't have much capital I need to be consistent in trading and the backtesting tool helps a lot to save time to test ideas and strategies and to avoid losing funds from bad trading. If you trade without backtesting tools you will lose a lot that was my mistake before avoiding this tool will slow down your learning process in trading.
I still have some losses but not every day(Patience is the key) and I am not greedy I can recover those losses since I only risk a small amount rather than a large profit.

[SmartGold01]

Smiles this is one thing possible in the trading journey we don't always make profits at the initial phase most time there will be several lose of funds and when you might have gotten irritated with the condition you often find yourself that is when you would now sit to follow up the normal process after you might have experienced series of lost in trading. One thing we should also note is that those people who are found to be pro today didn't just start instantly or a day it was a gradual process and also their experiences brought them so close to their destinations were we thought they had arrived.

Yeah, experience also helps a lot, and loss in trading also helps I guess but it can be prevented that is why there's a paper money and backtesting tool.
I always test my skills even if I don't have much capital I need to be consistent in trading and the backtesting tool helps a lot to save time to test ideas and strategies and to avoid losing funds from bad trading. If you trade without backtesting tools you will lose a lot that was my mistake before avoiding this tool will slow down your learning process in trading.
I still have some losses but not every day(Patience is the key) and I am not greedy I can recover those losses since I only risk a small amount rather than a large profit.

That is why Demo is there for newbie traders that can start trading with demo account to test their knowledge and when they began to make profits from the trade then it shows that they have advanced in knowledge and in practice, meaning their risk index is now minimal unlike those who doesn't practice, and of course if one were losing and later adjusted to start making profit he would recover all that they had lost while at their starting stage.

[UNIVERSE]

While trading strategies often rely on predictions based on analysis, market fluctuations can be unpredictable, and sometimes, luck does play a significant role. Even the best strategies can fail if market conditions suddenly shift due to unforeseen events, and at times, a stroke of luck can lead to unexpected gains.

The strategy will be adjusted based on the market condition. I don't think it will be determined because of the prediction. 
Sure, the market can't be always predictable, sometimes there is a sudden change in market trends. That's why we must be ready with some plans when the market changes massively. We can't force to use the same strategy if the market trend has changed. We must have another strategy that may be a more suitable with the new market condition.

[DragonF]

I agree that trading is not a matter of luck because we have to do research and analysis about coins and markets. But sometimes we are also hit by luck when the market suddenly goes up and we can get big profits. It only comes once in a while, it will not come every day, so it is not something that is consistent and will always come. So instead we rely on analysis.

Trading has nothing to do with luck, as you correctly stated. When you make a bad trading decision, you are punished with a deficit, whereas when you make a good trading decision based on proper market analysis and research, you are rewarded with a profit. However, while our analysis does not always yield immediate results, it does yield long-term profits.

[nakmantu99]

While trading strategies often rely on predictions based on analysis, market fluctuations can be unpredictable, and sometimes, luck does play a significant role. Even the best strategies can fail if market conditions suddenly shift due to unforeseen events, and at times, a stroke of luck can lead to unexpected gains.

The strategy will be adjusted based on the market condition. I don't think it will be determined because of the prediction. 
Sure, the market can't be always predictable, sometimes there is a sudden change in market trends. That's why we must be ready with some plans when the market changes massively. We can't force to use the same strategy if the market trend has changed. We must have another strategy that may be a more suitable with the new market condition.

I agree with what you said, strategies can always change following market trends. If the market suddenly experiences a major change, for example experiencing a correction that makes all coins red, we should change our strategy to defensive. That's what I've always done so far.

[Hisbullah]

While trading strategies often rely on predictions based on analysis, market fluctuations can be unpredictable, and sometimes, luck does play a significant role. Even the best strategies can fail if market conditions suddenly shift due to unforeseen events, and at times, a stroke of luck can lead to unexpected gains.

The strategy will be adjusted based on the market condition. I don't think it will be determined because of the prediction. 
Sure, the market can't be always predictable, sometimes there is a sudden change in market trends. That's why we must be ready with some plans when the market changes massively. We can't force to use the same strategy if the market trend has changed. We must have another strategy that may be a more suitable with the new market condition.

I agree with what you said, strategies can always change following market trends. If the market suddenly experiences a major change, for example experiencing a correction that makes all coins red, we should change our strategy to defensive. That's what I've always done so far.

The strategy and method we use always adjust to market conditions as we know if the market changes we should change our strategy because if we do not understand market changes, we will lose. I also do that if I feel the market will change and if I continue using the initial strategy we will lose, As an investor and sometimes trading I also don't want to lose because my main goal in crypto is to make a profit.

[alltalk]

The strategy and method we use always adjust to market conditions as we know if the market changes we should change our strategy because if we do not understand market changes, we will lose. I also do that if I feel the market will change and if I continue using the initial strategy we will lose, As an investor and sometimes trading I also don't want to lose because my main goal in crypto is to make a profit.

Yep. We must adjust the strategy based on the current market condition. There is no single strategy that can fit with all market conditions. That's why we must have varied strategies, we don't rely on a single strategy. This is the importance of learning trading strategies, we will have some alternatives of strategies if we learn it comprehensively.

If you assume a certain strategy doesn't work well anymore, kindly changes the strategy. Sure, our goal should be the profits. And the profits can be gained if we use a proper strategy.