Don’t confuse luck with a profitable system. Dumb luck is just dumb luck:
Reader: I open[ed] an account with 10 USD and with trend following I make 20 USD in 6 days.
Covel: That is gambling. Not trend following.
Reader: But it’s profitable.
Covel: Someone wins the lottery, and you apparently won the scratch off this week. That’s not a system. Luck.
Note: Yes, some not so wise people occasionally write me.