Is forex trading really based on luck?

[Ononivami]

Forex trading is based on luck and it is also based on some level of experience. It is very important to gain relevant experience on how to trade the forex market properly.

 

[Mayorla]

Forex trading is not a game of luck. I have not seen any successful Forex trader who rely solely on luck while trading. Before entering a trade, Most traders have a solid reason before taking any side.

 

[Robert90]

Forex trading relies on ability and strategy rather than chance. Since there are always losers in a zero-sum game like the FX market, there are always winners as well. Successful traders identify a market advantage and repeatedly take advantage of it.

 

[Syldan]

Actually I think it depends on how good you are at forex trading but sometimes I also considered it as a game of luck because anyone can fail and anyone can be successful not considering your skills and knowledge sometimes.

 

[AruneBend]

Well, of course, you need experience and skills, however, I believe there is a bit of luck in forex trading since it's risky and you can't always rely on your skills; sometimes you lose, and meanwhile, others who are not as experienced win some really good trades, so it's all based on your skills, experience, and a bit of luck.

 

[Abigael]

Actually I think it depends on how good you are at forex trading but sometimes I also considered it as a game of luck because anyone can fail and anyone can be successful not considering your skills and knowledge sometimes.

That is true. I think luck and skill both play a role in forex trading. The fact that you can gain skills in order to invest well in forex trading makes it a better investment method than gambling which only depends on luck. Therefore, one should take time and learn forex trading skills before investing.