How to differentiate luck from skill in trades
Dec 07, 2013 at 09:13
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2 Replies
Dec 07, 2013 at 09:13
Guys how can we differentiate between luck from skill?
My friend said its the consistency.more trades is meant we can see whether
Its pure luck or skill.
So the question is that what my demo account can be considered as?
Is it a luck or is it a skill?
If you say its luck,i have won quite some trades consistenly.
If you say its skill,i have buste my accounts many times.
My friend said its the consistency.more trades is meant we can see whether
Its pure luck or skill.
So the question is that what my demo account can be considered as?
Is it a luck or is it a skill?
If you say its luck,i have won quite some trades consistenly.
If you say its skill,i have buste my accounts many times.
Member Since Nov 23, 2013
24 posts
Dec 07, 2013 at 14:54
Unfortunately it's hard to say either way when trading on a demo account. Demo don't have any of the factors that effect a real account.
The best way to tell 'skill' as you call it is to look at a number of factors, consistent profits with low drawdown (under 5%, 10% max) will show a good trader.
The best way to tell 'skill' as you call it is to look at a number of factors, consistent profits with low drawdown (under 5%, 10% max) will show a good trader.
If you don't have time to trade, let us do it for you!
Dec 10, 2013 at 11:26
CasholeLTD posted:For sure I agree, but I think some demo contests can give you some inkling - even some simulated real-world experience - about the factors influencing successful (or otherwise) real account trading. Contests here at myfxbook, for example, and also forexrazor (which seem focused on drawdown, some would say obsessively so).
Unfortunately it's hard to say either way when trading on a demo account. Demo don't have any of the factors that effect a real account.
Luck v. Skill - I think you can lose more of your money through lack of skill, but I also think you make real money on trading when you trade (successfully) at dollar volume.
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