Separating luck from skill.

[scotthooker]

Hi,

I've been having an argument with a friend of my recently about my exploits in tennis markets. I am a very small scale trader by some peoples standards. However, equally to be making any kind of profit seems to bring you up to the next level.

However, I was told by my friend that in terms of trading technique I was doing it "wrong". However, I have managed to make a constant profit over wimbledon this year with only one negative end result and have traded my way out of a few losing trades.

It then all went slightly wrong on the wimbledon final. I put this largely down to I was forced to go to a christening and therefore couldn't trade properly without betangel and was using my phone... This was stupid but it did wipe out a large chunk of my wimbledon profit. And following on from this I've been thinking that perhaps it was all luck and come the next tennis slam I won't be as successful... It just so happens that wimbledon was a fluke. I'm still in profit over tennis but I am now doubting my self. Much like the time when you win your first bet and think you have one up on the bookies so you go reinvest...and lose everything.

[Euler]

If you know why you did something and can explain that it's skill, if you can't it's luck.