Trading Rituals and Superstitions | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Made Simple the right way, and other trading lessons 334 replies

Day Trading vs. Swing Trading vs. Position Trading 86 replies

Demo Trading, Martingales, and Real Trading 4 replies

Diet and trading: Vegetarians better at trading? 38 replies

Trading Career Advice - Working Full-Time and Trading 19 replies

Attachments: Trading Rituals and Superstitions
Exit Attachments

Trading Rituals and Superstitions

  • #21
  • Edited 2:19am Dec 23, 2016 1:05am | Edited 2:19am
Quoting UlliC
A self-confident trader that is on top of his game in terms of knowledge and experience does not need superstitions and rituals. Trading has nothing to do with luck. Its all about observation, analyses and making the right call at the right time.
That sounds like the nice reassuring thing people say.

but if you go to the "equity curve simulator" and type in say 55% win rate 1:1 risk reward over 500 trades - and you put in 100 lines (random equity curves) - you see that about 2 of those 100 have lost money.

So even if you trade well, you might be one of those unlucky 2% of people. No fault of yours, just bad luck.
Attached Image (click to enlarge)
Click to Enlarge Name: pinky and greeny are crying.png Size: 321 KB
  • #22
  • Dec 23, 2016 5:40am Dec 23, 2016 5:40am
True. Superstitions don’t change one’s luck though, so one shouldn’t rely on them, I think.
  • #23
  • Oct 5, 2020 5:17am Oct 5, 2020 5:17am
Very good observation. This will help a lot of traders to make their trading decisions. Thank you for the post.
  • #24
  • Oct 14, 2020 9:16am Oct 14, 2020 9:16am
There is no good or bad luck in trading. Just good and bad decisions.
  • #25
  • Oct 14, 2020 9:27am Oct 14, 2020 9:27am
Quoting Deepak.Dubey
There is no good or bad luck in trading. Just good and bad decisions.
In the vast majority of cases, indeed. Sometimes good luck can spare you from the worst consequences of bad decisions, but that's not something one should rely on.
  • #26
  • Oct 17, 2020 9:08am Oct 17, 2020 9:08am
Quoting mlawson71
{quote} In the vast majority of cases, indeed. Sometimes good luck can spare you from the worst consequences of bad decisions, but that's not something one should rely on.
For those who believe in luck - in many aspects of life, a stroke of luck is as likely to turn things against you as in your favor. Trading, however, is not one of those aspects.
  • #27
  • Oct 17, 2020 9:10am Oct 17, 2020 9:10am
That is what I meant too. Don't rely on luck.
  • #28
  • Oct 21, 2020 6:17am Oct 21, 2020 6:17am
Trading is not a game. If you want to become successful in the market, you have to be serious about trading.
  • #29
  • Last Post: Feb 1, 2021 4:52am Feb 1, 2021 4:52am
Quoting Deepak.Dubey
There is no good or bad luck in trading. Just good and bad decisions.
Yes, There is no successful trader in forex who achieved his success by depending on luck. We have to observe some inevitable part of trading as like MM , RM , Powerful trading strategies , exceptional experience and much more that are very supportive to lead a successful trading life with certainly.
0 traders viewing now