Skill vs Luck in Trading
05-May-12 Leave a comment
Here’s my take on the eternal debate. Let’s indicate the unknown (i.e. what trading is?) by ‘x’. Now, luck and skill seem to be at 90 degrees to each other (i.e. only luck and no skill as well as only skill and no luck will both take you to the cleaners, I guess). Furthermore, since we are talking about successful traders here, it is unlikely that any would be found on the (all skill, no luck) or (no skill, all luck) lines. Which means that every successful trader has to have some modicum of both. Elementary, but I am sure how many of us are humble enough to recognize and appropriately fear the role that luck plays in our fortunes.