Myself and others had a discussion about traders, both new and old, confusing nice equity curves as real trading when it is just luck. A hundred descretionary trades can easily be luck- imo. Especially when draw downs between trades. Old trades who have lost their skill or edge can also think it is good that they are at least holding together. This is luck too. Have you ever thought you had an edge or skill, but found out over the longer term that it was just luck that proved to be a false theory? I would also love to hear anybody who has ideas about how to quantify luck in trading.