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Luck vs Education vs Experience


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328 replies to this topic

#1
rockstar

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In forex trading there are three thing that are, Luck, Education and Experience so i am going to ask that which one is the most important? Please share your experience that how these things are helping you in trading and which one is most important for you?

I prefer experience. IF you will have more experience then more you will earn, because my trading is improving with my experience.


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#2
ermaniso2011

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we cant talk about luck in forex.if a trader trade just with luck his trading life will be very short.we always need a stable strategy which can help us to make a living with forex.that is why the first step is education and then experiance and when you have enough experiance then the skills will improve ,it is stage by stage.
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#3
pinoycity

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Indeed, Luck should not be at the topmost in these three matters being talked about in this thread. A trader should place Education and Experience first and Luck will come naturally.
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#4
monyitomon

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Yes, i agree! "Luck" Shouldn't be here. A real trader doesn't depend in a "LUCK" but in skill and experience in Forex. If trader depend in a "LUCK" then probably that may be called as Gambling. But as for me experiece and skill are the most important.
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#5
luke1

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First, in trading Forex, we need to learn good. It means, education is the first step. next step is the experience. The more we do, we will know more about Forex and its risks. The Luck, is based on the situation when we have no choice to decide.
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#6
pinoycity

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But I think, there is also an element of Luck in Forex trading. No matter how hard we worked to analyze the market, it is still unpredictable. If it is unpredictable and if no strategy is perfect, there will always be times when you would wish that Luck is on your side.
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#7
monyitomon

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There is also some cases that you thought you almost lose in a trade but at the last seconds you will still end up with profit! That may be called as "Luck" and there are many cases like that.
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#8
pinoycity

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There is also some cases that you thought you almost lose in a trade but at the last seconds you will still end up with profit! That may be called as "Luck" and there are many cases like that.


Yeah, there are times when I experience this. This is when I trade aggressively and will not put SL in my trade. I know that the market will agree with me and I did not close the trade even though I have lost much already. Eventually, it came around and handed me a win. But this comes very seldom in my case, so I guess, you could say I was just lucky.
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#9
rexway

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Yes in forex the its only two things that maters for me that is Education and Experience so trade with care to bring in profit,Nothing like luck should come in here when its come to forex,a trader who is hoping to make profit from luck will endup loosing all its profits LOLS.
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#10
pinoycity

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Speaking of putting SL in my trades, I experienced losing again because of putting an SL in my trade. The market dived steeply but recovered after some time. If there was no SL, I would have gotten something. Surely, I will take this lost as part of my Experience and I hope that my Skills will improve because of this.
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#11
flybiz08

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Luck has no place in forex trading and if any forex trading should depend on luck to make it, then that trader is simply gambling with hard earned moey. Skills are what the forex markets require and to get those skills, a trader will have to invest real time on the demo accounts.
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#12
sidejob

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all of them is good for us, but from what i see Education and Experience have the same amount and both of the overwhelming the LUCK things here, from what i see based on my trading activities in some months back, education and experience have about 49% for each and luck only about 2% .
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#13
Tariq777

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Luck is the factor that affects the most in the forex trading, without luck you are nothing dear
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#14
rizal83

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is actually the most important thing in trading is an education because the education we will truly understand the trade well and the experience was useful to improve education we have lived and the two things then good luck will come naturally to our trade
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#15
ATSATS

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luck is a luck where the chance is existing in 50-50. so it is clear to us that investing in forex depending on luck is so much risky. sometimes it will be profitable but time will treated same well. on the other hand education is better than luck. i am so much educate about forex trading and always want to know about forex, so i am so much interested about forex trading. on the other hand experience is the best. it will help to gain any investor with long time. so i think everyone to take experience in forex tarding.
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#16
arsii619

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we cant discuss fortune in currency dealing.if a investor business just with fortune his dealing life will be very short.we always need a constant technique which can help us to earn an income with currency dealing.that is why the first thing is knowledge and then experiance and when you have enough experiance then the abilities will enhance ,it is level by level.
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#17
Adnan

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Well, I am a trader which deals with education and experience rather than luck as ecucations is the most important thing for us to survive in this market. Experience is something we get with the pass of time in this market whereas, trading on the basis of luck can be risky as trading is considered as a skill-based market rather than luck-based.
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#18
rizal83

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if we only rely on luck in trading then it will not be able to survive a long time in making profits by luck it will only be temporary but if we have a good knowledge and experience in the trade of course luck will come any time to ourselves with this should be before we dive into forex trade, we must have a good preparation, especially in terms of knowledge of forex
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#19
standart

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the most important actually is education and experience. luck only playing small role in trading actually. so if a trader rely most of their trading expecting good luck, they will got margin call sooner or later. the best thing to traders especially beginner is prepare their self with proper knowledge and experience before they start trading in real account.
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#20
rexway

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As for me I dont do with luck what I normally do is to try my possible best and trade with experience through this means i will always be able to trade profitably and make some good analysis hence make proper income out of the market.
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