The behavior of those who participate in a casino is to enter with illusions and leave with frustration. This is the root cause of all mistakes.

As much as 90% of gamblers enter a casino with the illusion that they can make money, even a lot of money, but eventually, they leave with a sense of bitterness.

In my trading career, I've witnessed many traders who label themselves as top-tier financial investors, but in reality, they are in the mindset of a gambler.

Those who enter the financial investment field, such as stocks or forex, initially enter with high hopes of conquering the market. They think that with just one trade, they could make a lot of money. This mindset leads them into a fantasy where they forget the rules of risk management and capital management. Gradually, they increase the size of their trades and the frequency with which they place them.

Another deadly trait all gamblers have is the “desire to trade” (or "craving to make a trade").

If you enter the market without proper guidance on risk management and emotional control, it creates a massive gap that leads to your account being blown up repeatedly.

I’ve seen many traders place large trades, only to find it difficult to reduce the trade size afterward. It’s like being in a Formula 1 car, speeding out of control, and then trying to switch to a squeaky bicycle.

The more they lose, the more they increase their trade size in an attempt to recover their losses. Unfortunately, this is related to trading psychology. Unknowingly, you become hypnotized by the market and forget who you really are.

Once you are "drunk" on the market's behavior, you begin increasing your position size to "get back" at the market. Hoping to recover what you’ve lost, your analytical skills vanish, and your judgment returns to zero. Instead, you are consumed by frustration and resentment toward the market.

With the mindset of a loser, it’s common for traders to find it nearly impossible to reduce their position size. In their mind, "Even if I win, it won’t be enough to cover my losses," so they keep increasing their trade size and exceed their control. This is the number one cause of massive losses and rapid account blow-ups for traders.

However, very few traders realize this. They blame their misfortune, or they blame ineffective trading systems.