Luck plays a vital role in investment
Most of the people would agree with me when I say that luck favors the most with investment. Of course, there should be a plan, strategy, and everything when we do an investment. It will also make some sense to say that they are unlucky after all those efforts. Doing a bad investment and saying that they were unlucky is not right. There are many people who don't have big faith in Luck. They are firm believers of cause and effect theory and would not agree with an external factor that is governing this. But I'm not going to go deep into that concept now.
I believe a lot in luck and I have seen that happening several times. There have been instances where luck favored me and there have been instances where I was unlucky and incurred loss. I can strongly say that luck is a factor because I have been into situations where my trading partner would see a decent profit but I would end up in a loss for doing the same investment.
At the end of the day when we discuss we end up saying that the stock favors him the most and it doesn't like me. The reason we keep saying that was because it was not the first time it was in his favor and I was unlucky. It would have happened repeatedly. I have also seen that some stocks favor me too.
Some people might say that the time we enter and exit matters the most and that is what determines if that was successful trading or not. But I would say that luck even stands before that and makes us trade during the bad times and good times based on what we are supposed to get. I have also seen people going to astrologers and asking them if they would get a good profit for their investment or not. The astrologers might say that gold can be a good investment and to stay away from silver. My friend used to say that his astrologer asked him to stay away from energy-related stocks.
Though I agree that luck plays a vital role in investment to some extent, I find it hard to under how astrology can be used to predict certain outcomes. It is good that I did not spend time on that to understand how both are related. Sometimes I feel that if a stock is not lucky for me, it was always a better decision to stay away from that stock. I even tried investing in the same stock after a long gap and have ended in loss again.
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Now this is a new angle in trading.
I started taking interest in trading. Been reading up on it and really trying to understand. So far I haven't considered the luck factor. I know I think a good chunk of traders are playing on blind luck. But that the ignorant me.
I may not start right away with the trading my will catch up soon enough.
Let's see what luck has in store for me :-)
Once a wise man told me that it is not good to keep the money idle without trading. After hearing to those words I started trading on Hive as well. Just the flip game between different tokens. Sometimes from Hive to Steem and then Steem to Hive.
That actually makes sense. You know if you keep ₹10000.00 hidden away (not an investment but more like burying it somewhere) the value of it reduces after say like 5years.
It still be ₹10000.00 but compared to the inflation and others it would mean less.
Wise man indeed.
Yes that's right. My father was able to purchase a coffee from a roadside shop for 50paise. Now imagine the price of coffee from a roadside shop. 😀
I think the luck favors the brave, though usually luck not always favors it's like 1-2 percent of the times.
Yes, but we cannot explain that easily. The luck favoring part is always a mystery. 😉
Hmm... Luck favors only for short term. The same astrologers are the only reason why many Hindu boys and girls have not got married yet even at their late 30's. What does the planet Mars have to do with the lives of human beings!?
If systematic, it is not always 'luck' the reason for making money from trading.
After all one century's magic is another century's science. When melting of ice in Antarctica can create forest fire in Australia, I guess Mars might have some effect on Human beings. It is just that we haven't found a way to explain things with science and after all, not everything can be expressed with the help of science.
But I definitely agree that many astrologers misguide people. But even in that case, astrologers might be wrong but not astrology. There are still people who can predict things properly with astrology. Pity thing is that we don't even have a proper calendar with us. 😀
I guess this can be a nice topic for us to talk about during our next call. 😜
No, luck plays a very little role in investments. Experience is what matters.
Yes, perspectives differ. I have personally seen luck favoring people. But ya if we can get to the micro-level information to understand why something worked and why something didn't, then it sure is experience. 😀
I think luck will get you but so far, one must have a trading / investment plan that provides and edge and who consistently trades that plan.
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Yes having a plan and sticking to a well-defined plan also helps a lot. It is something like creating a trading pattern and following that. I have also done that in the past. Maybe I still do. 😀
Have felt luck many times and have fallen too. Still a would say, luck comes with a risk 😉
Yes, it does comes with a risk. But I have also seen people for whom luck favors most of the time. ;)
😁😁 the story goes by their success or failures. The one having mix performance of success n failures are never counted 😬
Quite true. 😀
That's quite true. 😀