Oh, dear! You should not think of trading with luck, as you will end up losing in the stock market. If you want to trade, consider trading with knowledge and skills. Luck-based trading means gambling and nothing else.
If you depend on your luck, you are not a trader but a gambler. In trading, your moves depend on how you understand the market. You have to plan your moves properly and learn skills with time. If you don’t learn with time, you will never be able to become a successful trader.
Luck based trading can never make you successful in the long run. You can do that only if you really have some extra money to risk, like taking a lottery. It’s hit or miss. That’s not really trading for me. Trading should always be based on market analysis no matter what.
I think leaving your trades to your luck is the biggest mistake that you can ever make as a trader. It is not a wise decision unless you have a big risk appetite. It is not that hard to learn market analysis so that you can trade like a professional. That is the only way to succeed in the long run.
True! Luck based trading is related to gambling. Whereas, actual trading is different from gambling. For example; trading depends on technical and fundamental analysis and a trader can mitigate their trading risk by implying strict stop-loss. On the other hand gambling doesn’t require any prior knowledge and the risk can not be reduced. Either gamble wins or losses.
You need to focus on the end goal by maintaining discipline and relying solely on your knowledge. Luck has nothing to do with decision making or profit income. Your knowledge and ability to analyse the market is what matters and will take you towards profit.
Hello, you cannot rely on luck to gain success. Put in the effort, analyse and strategize in the marketplace and make sure you know your game play. You have to have a plan if you want to earn profit rewards, consistently. Best of luck!
You might get some wins here and there with beginner’s luck but you will never be able to become successful in the long run unless you learn and develop your skills as a trader. Luck is just some sort of belief. In most cases it is more of a coincidence that you ended up taking profitable trades without any analysis and strategy. That may or may not happen again. That is why we must focus on learning and becoming skilled for long term success.
Luck based trading is more like gambling to me. It cannot be referred to as trading because there is no analysis or strategy that you depend upon. Professional trading always involves picking stocks based on market analysis as you follow your strategy. That is the only way to attain long term success in the stock market. I don’t believe luck alone can ever help us to make profits as you will also need knowledge and skills.
I believe that if you approach the market with the sole intention to make a quick buck, you are more likely to suffer loss. Time and patience is of the essence so you can’t rush the process. Profit and loss are two sides of the same coin, so learn from mistakes and focus on creating a better understanding of market psychology. Making your decisions on luck is never practical. Analyse the market sentiment and take a call, precisely.