luck based trading


Well-Known Member
A full time trader nowadays.
still yet to get a grip . bit loss and bit gain . going to try my luck .
technically not able to understand or have no patience and knowledge to understand all these charts etc. tried and fed up .
Luck based trading is a good concept, then the main point would be how to increase the luck factor when trading.
Luck based trading is no less than gambling. In order to trade, you need to analyse the market, make calculated predictions of possible future market movements and then make trading plans. The trading plans should also include risk management strategies as well. Proper trading, in any way, is not left up to the grace of the blind wheel of fortune. One has to make their way through the market ups and downs to make profits.
Luck based trading, is a sophisticated name for ‘gambling.’
If you are becoming impatient, anxious, or frustrated with trading, or if you feel like you cannot understand the technicalities of trading, it is normal. Many traders feel and go through this stage. However, it is the consistency that matters. Close all your current trades, and take a break from your current trading. Refresh and cleanse your mind. Start learning the basics of technicalities like charts from the very foundation stages. Develop your psychology and mindset, and get back to trading again. You will feel a lot better and trade well with more profits as well.
It is not trading if it relies solely on luck. Gambling is the term used to describe it. You can't just put money in the market and hope for a profit down the road. Trading necessitates extensive market knowledge as well as technical expertise. All that you need to become a successful trader is knowledge and skills.
When you depend too much on your luck for trading results, you are probably gambling and not trading. Learn to take responsibility for your trades and you will do better.
You must understand that luck-based trading is called gambling. Gambling itself implies luck as there is no skill or knowledge involved in it. On the other hand, trading in the financial world requires everything to learn and explore, without which it is pure gambling.

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