Trading can be a wonderful venture, but it comes with its share of dangers.
One of the primary risks is financial loss.
The volatile nature of financial markets means that everyone suffers loss.
Irrational decision-making is another pitfall; fear and greed can lead to impulsive actions that erode capital.
Overtrading, where traders make excessive trades, often results in losses
Lack of knowledge is yet another issue;
trading without a solid understanding of markets and strategies can be disastrous.
To navigate these dangers, traders must educate themselves, practice sound risk management, and exercise discipline in their trading activities.
Firstly our approach towards trading could be the reason we see more of the worse than the best from trading. If we change our approach and see trading from a professional side I think more often we will be able to get it right trading. Just like a skill it take time and dedication to get the full knowledge of it and start getting the benefits that comes with trading and not rushing into it without proper knowledge.
Risk can be seen with almost every business and profession but you put your self so much at risk when you fail to get and apply quality knowledge of that Skill to work. There's this great pit fall common amongst amateur traders,
risk management it's one of the greatest fall of most amateur traders, they have poor risk management strategy and some don't even have at all and when they loose money they blame it on trading. Second
managing your emotions this has to be another aspect that needs more attention but most persons give less attention to it and for sure if you can conquer your emotions you have gone halfway your trading experience. Lastly
Quality education and discipline as stated by OP. Trading is a profession and not a hobby treat it as such and you become better at it.