Well now I'm confused! I don't believe in luck in the traditional sense of the word, and I don't believe everything is random, so where does that leave me? Certifiable?

Admit it - your profits are based on luck

I don't know anything about dropping through floors so I'll leave that bit, but are you referring to my comment about 100% accuracy? If so, there's a difference between accuracy and certainty.

Admit it - your profits are based on luck

Both, and even astrology at one time believe it or not! Ok the astrology kinda lost it's novelty value after a few weeks but it was actually quite accurate on occasions (coincidence probably but who knows!). Some fundamentals are no-brainers like ...

Admit it - your profits are based on luck

What I'm saying is that mystical 'luck' plays no part in that randomness and chance, how could it when it doesn't actually exist? (It's more often the trader who's to blame not the marketmaker, but I agree MM's aren't snow white )

Admit it - your profits are based on luck

I can't define something which I believe only exists in someone's imagination. 'Luck' belongs in fairy tales in my opinion, it's just a romantic notion.

Admit it - your profits are based on luck

Hi tdion, welcome back Yes it's possible to analyse something with 100% accuracy, it doesn't happen to me that often as I'm not that great a trader, I usually have to 'trade' my way into and out of a trade but it does happen. If outside events ...

Admit it - your profits are based on luck

'Luck' is an intangible but powerful and mystical force which is sometimes responsible for our failures, and for the successes of our peers, it exonerates us from blame or responsibility.....how convenient! I wonder how many legal defences were won ...

Admit it - your profits are based on luck

So your definition of 'luck' is random chance?

Admit it - your profits are based on luck

....or mitigate the effects of our poor analysis would probably be more accurate!

Admit it - your profits are based on luck

'gambling', 'speculation', it's just semantics. I've known profitable gamblers and unprofitable speculators, and vice versa. The word gambler still has a stigma attached to it, you immediately think of a down-on-his-luck casino or race track chancer ...

Admit it - your profits are based on luck

Good post! But do you really think it's all down to preparation? I think successful businesses have some sort of added ingredient. I don't know what it is, it's probably not even quantifiable, maybe it's something as simple as a will or ...

Admit it - your profits are based on luck

Not really. The market isn't some romantic-sounding free spirit in control of 'herself', the market simply consists of buyers and sellers, it's nothing more than a facility for us to speculate on and make money. When I make a profit on a trade it's ...

Admit it - your profits are based on luck

Is that fish, pips, and peace? Mushy? Do you have a lispth

Admit it - your profits are based on luck

However many times you 'say it again' it doesn't mean it makes any difference to overall profitability. An edge doesn't just dissapear overnight, it's obvious if/when a system loses it's effectiveness and it's adjusted to suit market conditions ...

Admit it - your profits are based on luck

lol, probably something like "damn, I'm one helluva lucky son-of-a-gun gambler!"

Admit it - your profits are based on luck

I guess that's a classic example of what happens when someone only looks at the upside of a deal instead of calculating risk and managing money. Plenty of analysts and market gurus predicted something like this would happen, most of them ...

Admit it - your profits are based on luck

Yes I got it, thanks David, I hope you found my detailed replies helpful (even if they were a bit on the long side!) Best, LiS

Pivot points

1) We're not talking about institutional plaforms executing deals for >100m, we're talking about bucketshops filling <100k orders in normal market conditions when most (if not all) marketmakers automatically fill orders at the price requested. RFQ ...

Anyone trading news here?

Nice results, well done! But is this an averaging system with no stops, or am I reading the statement incorrectly? If it is then you probably already know what the problem might be, and it will happen eventually

Longest winning stack....(??)

Ah ok, it's a bit clearer now I've read the way this works. Unlike normal marketmakers who stream executable quotes and offer instant fills, on FXClub you have to request a quote, that's how they are able to say 'No Requotes' On stop and limit ...

Anyone trading news here?