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Do you believe in luck in trading?
How many times your target was surpassed and you felt so good (or bad, depends). Do you believe that luck had something to do with that? Can an experienced trader be lucky?
Mike, I've searched the topic and I couldn't find similar thread. If I missed something please accept my apology and move the post to the appropriate thread. Thx
Can you help answer these questions from other members on NexusFi?
You would never rely on luck as a trader. It's also called Hopium.
:hopium:
But "luck" or randomness does play its part. For example, just because someone is able to place several trades and they end up winners does not mean they are a good trader.
But once you increase sample size to thousands of trades, it is clear you cannot rely on luck.
on Hopium to get me through. Things in trading need to be repeatable and as such I do not believe that you can put yourself in the path of good luck through any process that you can repeat. But from time to time I'vr donr things like hang a stop that ends up buying to open long at the low. BUT I've also done things like traded all day without taking off universal SIM. That really sucked...but it was funny as hell to my friends.
I usually don't use the limit orders and many times I was very nicely surprised that the price exceeded my expectations -- this extra profit is that luck?
luck in my opinion. Maybe not a best practice but I'd consider that something else having to do with your specific acuity especially if you repeat it all the time.
Maybe you are just a good trader. In as much is it luck to hit a home run or strike-out while playing baseball?
feeling