Luck vs. Skill

Yesterday I saw the luckiest poker player I’ve ever seen.

It was a tournment featuring 3 professionals and 3 amateurs.

The final 2 remaining players happened to be a professional and an amateur.

What was jaw dropping was how well the professional was playing… making all the right decisions, doing all the right things… while the amateur seemed to just be flying by the seat of his pants… yet miraculously managed to luck out exactly when he needed it.

To make a long story short, the amateur lucked out and strung together an incredible streak to win the $1.2 million prize, seemingly with sheer luck.

What does this have to do with trading?

3 things…

  1. Sometimes you can do all the right things and lose money.
  2. Sometimes you do all the wrong things and make money.
  3. Dumb luck may put some money in your pocket every now and the, but don’t depend on it as a winning long term strategy.

Continued Success!

Ray

No Responses to “Luck vs. Skill”

Care to comment?