Does Luck have anything to do with Forex Trading

[2iquelo]

There is no such thing as luck in forex trading. There are predictions yes, but your success solely relies on your analysis skills and trading strategy. If you trade without using stop loss and end up losing all your mone, do you say you are unlucky?? No. I think unwise would describe you better

 

[Hulas]

Forex has nothing to do with luck. In fact, most traders fail because they come into trading with the mentality that their lucky stars will smile upon them, only to realise that this is way beyond lucky stars. Forex is business. Real business, where only serious minds can survive. You use logic and analysis, not luck!

 

[Deanna]

I think luck should be left to casino games. Forex needs proper analysis skills, logic and research. You must monitor the trends and see what's going in the market. You must know how to read and interpret charts, enter and exit a trade, and above all, master a trading strategy. Is that luck?

 

[kalex76]

With luck traders have to be very much experienced and hard working so that they can get the profit in a consistent manner .So first we should have to gather the knowledge and then we should start trading with real to get lucky to make profit from this field.

 

[KristanXX]

This is such a nonsense. I would like to tell to those people how much time I have spent learning, then testing, then trading on demo account and after few months started trading on Forex with full understanding of what is going-on on this market. This is absolutely not gambling

 

[SeanBlair]

there is no luck factor in forex trading. once you have signed a trading contract, this is where you are ready to become a trader.

 

[Christof]

Becoming a trader does not start with contract signing. It starts with learning process of becoming a trader. You can choose whichever broker you wish, but if you don’t have good skills and excellent strategy, you will not succeed on this market

 

[anna.semera]

If someone is trading forex on the basis of guessing and relying on luck, then he is gambling.

 

[Nosero]

Indeed, stop-loss can do very good job for any trader. Market volatility can bring profits but also losses. In order to keep losses under control the best approach would be always to set stop loss limit with application of some money management techniques

 

[Alekxandra]

What are you guys talking about? When stop loss saved who? To put a stop loss, you must be able to place orders for the breakdown and see the levels. Many traders do not know how and stop losses bring them losses. One time the price will knock you out a warrant, two, three...and you stop putting a stop loss.Placing a stop loss order is an important skill that few people possess.