Luck and skill

Everything in life is about luck and skill.


The problem is that we can definitely control our skills, since we can learn new skill and improve on our skills.

Luck is different. The best student in school may not get the scholarship due to bad luck. Of all days in the year, he gets sick during the examination period. All the hard work down the drain due to bad luck.

Is there any way to get good luck?

Many people have tried, and are successful to a certain extent.

For example, many Asians believe in Feng Shui. They do whatever they can to improve the Feng Shui of their homes and working environment.

Some employees go to the extent of having a small fish tank with a few guppies in their work station. What is the purpose of that?

It is to get good luck. The Feng Shui concept mentions that water brings wealth. As employees, they cannot have a big tank with a dragon fish in it. The only thing they can do is to have a small tank, with a few guppies.

Most people are wise enough to know that skill is part of the equation to success. Luck is another factor.

The most skilful person in any trade must have some good luck for success.

Luck and skill are both important. If you have good luck, but no skill, you cannot succeed for long. Everyone will know that you are a fraud.

The combination of good luck with expertise is the recipe for success.

It is surprising that many people forget about this simple truth when they enter casino. They think that good luck alone can guarantee winnings. That is not sufficient.

They must have the skill to play the games they like. On top of the luck and skill equation, they need to exercise self control.

It is not true to say that most people lose money. Actually most people win at certain times during the stay in the casino.

The problem is that they lack self control.

When they win a bit, they increase the bet. When they start to lose money, they cannot believe that good luck ends. They still think that they will win.

They keep on increasing bets and keep on losing. They lack the self control to walk away when they lose money. More importantly, they lack the self control to walk away when they win money.

The ability to cut losses and the ability to take profits are seriously lacking in most of us.

The same story occurs in the stock market. When the stock prices keep on going up, they lack the ability to take profits. They keep on hoping that the share prices will increase.

When the share price drops, they do not cut losses.

This shows that while luck and skill are important factors in all aspects of life, our character trait, such as self control., determines the ultimate result.