Lack of knowledge is the Most common reason why people fail in trading...they prefer to understand the dynamics of the market by themselves so they just copy trading signals and they don't end up getting the knowledge needed... Lack of patience is also a good one you highlighted, trading is all about being waiting for the right opportunity but not everyone is disciplined enough to do that
Correct, I always think it is not possible to achieve any success without gaining knowledge. Not just trade, knowledge should be acquired in all aspects. However, when I started trading, one of my friends advised me to signal. Because I failed again and again in the beginning. At that time I did not have the right knowledge about the trade, but I did not take any signal from him because I wanted to acquire knowledge properly and create a signal myself. However, the journey was just as easy as it was to say in the face. At one point, he realized that not just acquiring knowledge but there was a lot of patience and he was slowly trying to master everything. And today I know almost everything about trade. One of the funniest things is, I now provide a signal to my friend, he trade using the signal. Despite his basic knowledge, everything has not yet been able to master. I wish he could be an expert trader.