This is the most important question which I am going to answer. As we have all heard about the word trading, Trading is not easy at all. It takes years to perfect. Risk is a major part of the trading business.
Lack of discipline: It is one of the major mistakes that traders do. They take action without making a proper strategic approach. If you want to become a successful trader, you need to have proper guidance which you can take from your mentor/ course/guidebook. Decide your stop loss, it will help you in managing losses.