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Beginner's luck is a commonly seen phenomenon in many chance events. Many people make money during their first days, weeks, or even months in trading.
Some believe that beginner's luck does exist because people tend to be more cautious when they have insufficient information.
Others believe that luck is nonsense in trading and can never be counted on.
Do you believe in beginner's luck? Did you have beginner's luck when you first started trading? How was your first trade? What do you think of the role of "luck" in trading?
Share with us your ideas and win rewards by joining our discussion "Did you have beginner's luck when you first started trading?"
Let's first find out what people say about beginner's luck.
Yes, fingers crossed. Luck plays a role in trading, especially for beginners.
Some believe that beginner's luck is real because it is founded on information. He buys (hardly any newbie ever short sells) the stock that someone tells him. He buys it when he is told to buy it and he holds it for a while and sees some profits and sells it. Now he thinks that’s all there is to it. Therefore, beginners are more cautious and less greedy, which might be the reason to explain "luck". 
What's more, the stock market is, as most would agree, unpredictable. Timing the market is as hard as looking for a needle in a haystack. In that sense, it's certainly not just technical analysis or fundamentals that will come into play. 
No way! Trading has nothing to do with luck.
Every trading market experiences certain periods of upswings (bull) and downswings (bear). What happened to a beginner is that the new trader entered the market during a bull run. Once the bull market ends, that is when a trader’s real test of skill begins. This is when it becomes difficult to make money in the market. As such, beginner traders seem to fall off at this point and feel like the forces of luck are against them. As they believe that they know how to trade and thus make risky trades. However, they usually endure heavy losses subsequently and realize that trading is not a game.
Therefore, it is advisable for beginner traders to be careful during the first year of trading, paying attention to the overall climate of the market, and not getting too confident.
Get bonus now by joining the discussion "Did you have beginner's luck when you first started trading?" 
A review to our previous Mooers' Stories "Why did you start trading?"