What hurts traders more?

Lack of patience and over trading

Waiting for set up as a swing trader or even day trader can be annoying ,fear of missing it kills patience ,then over trading is not just a good habit I remember trading 20 positions and losing all in just one day 😭😭😭twasnt funny

Lack of patience

Over trading and lack of a daily loss limit.

Ego hurts traders more, refusal to learn new things because they feel they know everything

You're very right.

Impatience literally ruins everything.

It goes with amount saying that becoming a good trader is not just about understanding the charts, it also has a lot to do with your personality as a trader.

Everybody seems to be dealing with this.

Care to share any personal experiences?

What do you think causes over trading though?

I feel like it's hard not to over trade if you're a full time trader, especially when you're not trading large capital.

What do you think?

The first thing I learnt as a trader actually, is that "I am a student - always".

The truth is that if you fail to how to humble yourself to learn from your mistakes, the market will definitely keep humiliating you.

Yes, and this I believe is part of why so many traders are still unprofitable. You are trading a strategy that you know is not profitable over the long run, but you keep doubling down on it and refuse to learn a new strategy

Apt.

And it's not just about unprofitable traders. Even profitable traders need to keep learning. The market dynamics are always changing, new players are coming in old ones are moving out, changes in the global economy. Lots of trends coming in and all that.

Traders need to keep growing.

Almost your TP and reversed to your SL

😂happened to me today

The person who said ego is very correct. Traders i see today want to skip the learning phase and start teaching so you see them teaching what they don't understand. Their ego is so big that they cant accept that they are not yet ready to become teachers. Someone just started trading forex yesterday and is already opening a telegram group and saying he is a mentor. Thus reinforcing failure, and such a trader cannot learn anything new because his ego will get in the way.

You go somewhere and tell people that your strategy has a 95% win rate meanwhile deep inside you know you're lying. Now you have to live up to the peoples expectation, so you keep using the same unprofitable strategy because you know that changing it will expose your lies

Ego will make you refuse to close a losing trade cos it will mean you accepting defeat, you will then end up taking a huge loss. I watched a YT video of traders taking losses and I noticed they were live streaming and because they didnt want their followers to see them take a small loss, they refused to close losing trades and ended up taking bigger losses reaching $500k