Forex is a business of skills, you need to learn, practice, develop, implement and analyze the market before entering a trade.. If you think of luck, then it is better to go to a casino and search for a living.. Here in fore, it is real business of intelligent people.. .If you do not want to learn, it is your fault if you experience severe damage to your account and if you learn, you will see the real profit in forex trading..
80% of trading is timing, 10% is ideas the other 10% is luck. 100% of it is being able to control your emotions. very few people can do all of that, let alone do it well.
Statical edges shift over time. What works well today will likely have lost some of its edge in a year. If there is any "luck" involved, it's the ability to sense what's shifting and making adjustments. BTW - I don't know a single successful trader who considers "luck" a factor in their success. Working 12 hours/day for years, however, definitely can shift the "luck" in your favor. PS - while "money management" is important its never a substitute for a statistical edge.
tepper, jiang, griffin, simons, among others all believe that 'luck' plays a role in winning trades... while nobody here would discredit their own research and hours of effort to completely ignore that some of aspect of this is pure luck would but ridiculous.
I've always considered myself the luckiest trader around. Lucky because I was at the right place at the right time to exploit the 80s and 90s in equity funds and then even luckier to be able to exploit the bond mania that followed. Then again, luck only comes to those who take action.
Luck won't get you too far in trading, maybe one or two trades and that is all except if you are very lucky and you do 10 but that is max. So forget about these professors and psychologists and concentrate on the trade. If you make 500 trades for the year and a 30% return, do not let any of these idiots scare you with the luck bogey. They are just like the priests who scare people with the hell thing. Most professors can only keep their jobs if they scare society enough to keep paying them.
I donât consider forex as a matter of luck. You need to have proper skills to trade in the market. I think experience, strategy and knowledge are the most important qualities in trading. So if you donât have the skills you will surely lose, because luck doesnât exist for a long time, especially in forex.
===================== Col; you may want to research how the prop/casualty insure business deals with risk, not really any '' luck' 'involved Best understanding of ''luck'' in trading came thru old timer John Henry-What you call luck i call a'' small sample'' Thats wisdom. Dont bother telling me how well he did not do a year or 2,LOL
Lucky during a trading boy, that means gambling. Why do people like to treat Forex like a casino. This is absolutely different. I believe there is skill needed in trading. Practicing with demo account and learning with e-books and videos are necessary before we jump into a real trading.
If a trader knows when (and why) he is getting in, when he is getting out before he gets into the trade. Then I don't think itâs a punt.