Over the years I have come in contact with so many traders and 65% of them have always complained about not making a profit in their trading when asked the reasons behind their losses they have always responded by saying this,( bad luck).
Haven't singled out the bad luck idea associated with trading or though, it is some reply gotten out of whatever survey, its no mystery why these traders involved in that survey had been failing.
Having the single idea that trading have got anything to do with luck at all is a misconception. It somehow relates trading to gambling and that is so wrong. Trading is infact, 90% technical and fundamental analysis. Hence, its gotten a verifiable pattern to it. The other 10% accounts for the unseen factors that could result in a sudden change in trend. The part where you do not see to analyse.
To reduces loses in trades because, it can't be completely mitigated, one needs to study trading and master a strategy. While, checking out for emotions, risk management practices and having a trading plan. It helps you to stay on course.