For me, profit is the main motivation for most traders. It's not the only key to long-term success. The often overlooked but crucial factor is risk management (this is very important), without this, even the most skilled trader can lose everything.
Managing losses wisely ensures you survive long enough to enjoy the gains.
This risk management is one factor that traders neglects while trading especially those traders that are lucky to make some good profits from trading, they feel they have arrived and are now experts in trading forgetting to know that it's not all the time they can make profits from trading and they start making trades with higher amounts such that their money won't sustain them for longer trades when they run some losses. Risk management is very necessary because that is what propels a trader for long term trading success.
Where there is no risk management applied, long-term trading success may not be as possible it is. Instead, you can only be profitable when you’re lucky or when the market favors your trade, but after that, your trades are already prone to losses because you never practice risk management which is a necessity when trading.
Also, those traders who aren’t that highly successful but aren’t losing consistently as well, are actually doing the risk management plan. After all, they won’t be profitable with trading in the long run if there’s no risk management in the first place.
You cant just that rely yourself about luck when you are dealing up with trading on which this isnt something that you can treat it like gambling because this would be that resulting on having that issue about on busting up all of your trading capital. When you do plan to have on having that long term approach towards trading or wanting to learn up such skills then you cant just that fully rely with luck because it doesnt work anytime plus this isnt gambling in the first place for you to have that kind of approach. We do know that on the moment that you've been that becoming