What you will choose luck or knowledge?

[maby84]

Many traders think that forex is all about luck. But that is not the case. you also need to study the market, use indicators, evaluate news and other factors that could affect the currency and charts are very important too. So while luck may play a small part, in truth proper forex trading is done through knowledge.

 

[Ghofyn]

I would definetely choose knowledge because it is stable and reliable. Whenever you go, knowledge is always with you and nobody is capable of taking it away from you. As for luck, it is good to have, but success depends on knowledge and skills more than on good luck.

 

[sunar14]

If luck could provide me with a one trade with high-probability of the win I would choose luck but of course this is impossible in real life that's why I chose knowledge and never rely on luck

 

[RainbowRain]

Our trades should be first and foremost reasonable and balanced and based on market analysis and the rules and conditions of our trading strategy. That's why I think knowledge and skills are important, not impulsive trading on luck, which will not lead to anything good.

 

[Aaron_0]

If you are new in Forex then you need to have good knowldge as well as luck. But you can not always depend on luck and you must learn the basics of forex and have good knowldge and skills. There are a lot of material available on the internet to learn Forex and also you can watch youtube videos related to Forex.

You're right—luck can’t be relied upon in Forex. It’s essential to build a strong foundation of knowledge and skills. Focus on understanding the basics like chart patterns, risk management, and market analysis. There’s plenty of educational content online, including YouTube videos, courses, and articles, that can help you learn. Consistency and practice are key to becoming successful in Forex.

 

[Ricky Rk]

I choose knowledge over luck any day becuase I know that knowledge is very important than anything else. If you take a look at all those successful traders then you will relaise that they did not become who they are because of luck but because of the knowledge that they have.

Absolutely, knowledge is the foundation of success in trading. Successful traders rely on understanding the market, strategy, and risk management, not luck. Continuous learning and honing skills are key to long-term profitability. Knowledge empowers you to make informed decisions, reducing the impact of uncertainty in trading.

 

[RainbowRain]

I think that in trading only solid knowledge, extensive experience and skills are important. After all, our actions and trades must be justified and carried out according to the rules of analysis in order to be able to earn steadily and less riskily, unlike trading on luck, where there will already be a huge risk of losses due to the inability to correctly analyze the market, making trades only on emotions and some unfounded feelings.