*Many traders fail for several main reasons:*
1. **Lack of Knowledge**: Doesn't understand technical and fundamental analysis.
2. **Poor Risk Management**: Not using stop-loss and risking too much capital.
3. **Uncontrollable Emotions**: Influenced by greed, fear, and hope.
4. **No Trading Plan**: Not having a clear entry and exit strategy.
5. **Overtrading**: Trading too often to chase quick profits.
6. **Unrealistic Expectations**: Expecting large profits in a short time.
7. **Lack of Discipline**: Not following predetermined plans and strategies.
8. **Not Adaptive**: Unable to adapt to market changes.
Avoiding these mistakes can increase your chances of success in trading.