Jasz
VIP Contributor
Yes, it is possible to rely solely on luck when trading in Forex. The problem is that the odds are not in your favor as a beginner. If you want to trade with only luck, then you will be placing a lot of trades every single day and hoping that some of them will be profitable.
First of all, we have to define what we mean by "luck". This kind of luck refers to the fact that things do not always go our way in terms of making a profit.
If you want to trade with mostly luck, but still have some discipline and make educated decisions, then you should look into systems that utilize various indicators such as moving averages or Bollinger bands. These indicators give you an idea of what the market might do next. They can also help you determine when to take profits or cut losses so that you don't get too far ahead or behind the pack.
First of all, we have to define what we mean by "luck". This kind of luck refers to the fact that things do not always go our way in terms of making a profit.
If you want to trade with mostly luck, but still have some discipline and make educated decisions, then you should look into systems that utilize various indicators such as moving averages or Bollinger bands. These indicators give you an idea of what the market might do next. They can also help you determine when to take profits or cut losses so that you don't get too far ahead or behind the pack.