Re: The #1 reason traders find it hard to follow their risk management plan.
Risk management isn't very easy task for traders. If a trader lost funds during trading then its effect psychologically and he become more crazy to recover his funds. We have lack of patience and greed is another dangerous behavior for traders.
This is why 90% of people should not be trading.
I honestly understand why laypeople compare day trading with gambling, because that's literally how most people treat it. They enter trades with no plan based on greed, they exit based on fear, they don't back test their strategies, they let losses run, they double down using leverage, etc.
It's no wonder Wall Street chews up retail traders and spits them out. Trading is very challenging psychologically and requires rigorous rule following.