The number one mistake traders make (especially beginners) is trying to get rich quick particularly when they have a small account because they see other traders with 50k, 500k, 5 million account balance.
Therefore try to flip it very fast without taking consideration of risk management, a trading plan & simply having any good worthful reasons to do it which lead a lot of traders to lose all their money very fast.
That’s mainly why 90% of the traders lose 90% of their money within their first 90 days, commonly referred as the 90 90 90 rule.
The problem is that newcomers want it too fast, think that it’s easy because all they see are the traders that continually post their wins (but hide their losses) and want to achieve big results without putting any considerable and consistent effort to learn: skip the inevitable process of becoming a trader.
