Quote from: FatFork on January 20, 2024, 08:40:15 AM

Quote from: Barikui1 on January 20, 2024, 07:32:06 AM

most mistakes of traders are;

While I agree with the mentioned mistakes that often contribute to trader failures, but I think overconfidence is a big one too that not everyone talks about. What happens is you have some wins early on and suddenly you think you're the next wolf of wall street. You throw risk management out the window and go all in on crazy trades and before you know it the house of cards comes crashing down.

From my own experience, staying humble is so key in this game. You gotta accept that you'll mess up sometimes. Trading is a skill that takes years to build. It's a marathon, not a sprint. Anybody who thinks they've mastered it overnight is in for a rude awakening.

Perhaps one of the factors why many traders still fail in their trading activities is their overconfidence. Because of this character they have, they are blinded without realizing that even though the strategy is wrong, they still think it is right.

So it is true that everything we do should be sufficient and moderate, and the second reason is probably the lack of knowledge of course in trading, what we do regarding trading should still be continuous learning.