Quote from: OcTradism on Today at 07:32:09 AM

Quote from: GreatArkansas on Today at 01:57:19 AM

Of course, it is a superstition plus luck.
I have some friends who bet for the first time and won huge during their beginner's betting, that's why we called it "beginner's luck" but still it will not apply to all. Luck is still your friend here even you are beginner or not.

If they consider their trading as betting, they will lose money with their bets. Because luck won't stay with them forever, so no matter how much profit they got from "Beginners' luck", they will lose big later, all profit from "Beginner's luck" and even more including their initial capital.

The worst effects from trading with pure luck is they will act like gamblers, no strategy, no cut-loss order setup, no aware of risk from altcoins and trading with altcoins. Sometimes if they pick terrible altcoins, trading with them will be like suicides.

Beginners don't know how they should trade. If they are able to make big profit by investing a small amount at that time then surely they will gamble for more profit from trading and it is very natural to do so. But just as luck is not permanent in gambling like one or two bets you have to loss, similarly the condition of all traders who conduct trading without acquiring trading knowledge will be at the same level.

Trading is not a gamble where one can rely purely on luck. Before taking a trade, if the market conditions are not well understood or risk management or money management is not well understood, then trading will not be any different from gambling. Those who equate trading with luck may profit in a few trades but lose all their money in the long run. Trading requires a trader to have adequate knowledge and understanding of trading strategies otherwise trading will be compared to gambling.