Does Luck have anything to do with Forex Trading

[forexfactory]

Some believe that Forex is a gamble and they come into it with the mindset that their luck will take them far. How true is this?

It is said that "Unless you are a Forex expert (which you can become only if you endure the market) you can not predict even the basic direction, in which the market flows."

Is the Forex system built like some Casino Royal? Lets talk about this

 

[Luke Hansen]

Not really. If anyone thinks that luck can do extra ordinary thing; then he is wrong. What average traders call 'intuition' is just a function of trading experience and trading skills. An experienced pro trader can predict the market behaviors by analyzing all essential aspects of trading. And to ensure a profitable yet secured trading a trader will require adequate trading skills and knowledge rather than luck. Yes, sometimes luck can give extra that is a matter of uncertainties.

 

[oliver1007]

A newbie trader sometimes full of luck. But after they using more money they will lose all.

 

[forexfactory]

So, that means a new trader must realize that he cannot depend on luck to make money from Forex. Gambling is a two edge sword, if you don't make money, it kills you. Forex profit is made from hardwork and years spent in learning everything there is to know.

 

[KariPlov]

We can not ignore the luck factor as there are two chances here which or win or lose. Sometimes, your wrong calculations can lead you towards the right side due to the unpredictable nature of the market. It holds on the short-term but longterm trading is not dependent on the luck.

 

[Dewis]

Yes, luck is also very important factor in forex trading. There are situations in which you can't justify things besides luck. People may offer may explanations but in the end, luck is the ultimate answer. What are your thoughts about this debate?

 

[KariPlov]

Luck is not everything on the forex market. Never rely on luck if you want to be a successful trader. Successful traders prefer knowledge and experience instead of luck for regular winning. You should have some knowledge and experience before entering to that platform. Without knowledge and experience you can't do anything on the forex market.

 

[Fistragos]

Luck is the effective factor in each and every field of life. If you are a hard working person and brave enough as well then you can tackle the luck quite easily as luck always favor the braves which we have heard millions of times in our life. Thank you!

 

[Geofery]

Luck is highly over rated. In the end it is just a game of chance. Forex is not a game, neither do you make money by chance. Economic data are real live events that affects the prices of currencies and commodities.

 

[Pelanali]

I have never seen Forex market as a place to challenge how lucky you are. And I think that it is not advisable to rely on your luck, because the market will inevitable teach you that market is the master. I rely only on my knowledge, logic and common sense