Dear Trader,
Yesterday, with a couple of beers, I had a long long long discussion with a group of friends (and my girlfriend) about LUCK in all aspects of life (including FOREX)
They defined luck as: "A small percentage of something that can not be explained by logic"
I dont like the term "luck" I consider it as:
The conditions you created and the conditions around you were in your favor---- You had good results or you had bad results, it does not depend in something "magical", God- like...
EXAMPLES of situations :
1. If there is a Tornado and it destroys all the houses except yours, is that Good Luck? or favorable conditions? Or the tornado simply did not destroy your house.
2. You were about to CRASH your car and DIE, but didnt. Is that being lucky? or the FACT is that you just didnt crash and die and FULL STOP!?
3. If you believe in good luck then read this: If you win the LOTTERY, is that good luck? If you lose the Lottery is that Bad Luck? Or simply you are playing around with numbers and probabilities.
I think this topic is important because if you believe in LUCK your decision - making CRITERIA is based on HOPE not FACT-Analysis.
Specially for a TRADER, you can base your decision in luck, then open a postion and hope the market goes your way. Thats Gambling...
In my humble opinion, a Trader should base his/her decisions in what is really happening and if you PROFIT its equals to>> you PROFIT, if you LOSE it equals to>> you LOSE. No LUCK is INVOLVED....
What is your opinion? Do you use Luck in your trading system?, do you use Luck in you technical, fundamental, psychological analysis?
Do you feel Lucky? OPINION POLL ABOVE....
Constructive opinions for trading please...
Thank you
Dimitri
Yesterday, with a couple of beers, I had a long long long discussion with a group of friends (and my girlfriend) about LUCK in all aspects of life (including FOREX)
They defined luck as: "A small percentage of something that can not be explained by logic"
I dont like the term "luck" I consider it as:
The conditions you created and the conditions around you were in your favor---- You had good results or you had bad results, it does not depend in something "magical", God- like...
EXAMPLES of situations :
1. If there is a Tornado and it destroys all the houses except yours, is that Good Luck? or favorable conditions? Or the tornado simply did not destroy your house.
2. You were about to CRASH your car and DIE, but didnt. Is that being lucky? or the FACT is that you just didnt crash and die and FULL STOP!?
3. If you believe in good luck then read this: If you win the LOTTERY, is that good luck? If you lose the Lottery is that Bad Luck? Or simply you are playing around with numbers and probabilities.
I think this topic is important because if you believe in LUCK your decision - making CRITERIA is based on HOPE not FACT-Analysis.
Specially for a TRADER, you can base your decision in luck, then open a postion and hope the market goes your way. Thats Gambling...
In my humble opinion, a Trader should base his/her decisions in what is really happening and if you PROFIT its equals to>> you PROFIT, if you LOSE it equals to>> you LOSE. No LUCK is INVOLVED....
What is your opinion? Do you use Luck in your trading system?, do you use Luck in you technical, fundamental, psychological analysis?
Do you feel Lucky? OPINION POLL ABOVE....
Constructive opinions for trading please...
Thank you
Dimitri