Traders do not compile sufficient data on their trading system prior to going live. With data there is no need for emotions, thinking about risk or any of the above. The compiled data will show win rate of the system, profitability, winning streaks, losing streaks and optimal risk management. This data should be composed from back and forward testing.
Until a trader can show a profitable trading strategy why risk money taking a potentially losing strategy live? Traders may think it’s their mindset or overtrading, however without concrete data how can they know what to expect from their strategy?
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Your question is like that everyone tries to make a group or community build an asset or car or vehicle but most of them are not successful and a few communities get much money and real winning.
success in any job needs patience and knowledge and experience and a little chance ( in some cases).
Because many people don’t take the pains of learning and directly jump in the market and lose everything out of greed. It is advisable to take your time to learn, demo trade for a good 6 months to one year and then go for live trading, not to forget with a strategy that is well back-tested.
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Traders don’t fail beacsue forex is risky or something they fail because of lack of knowledge and greed.
Many forex traders fail because their money is inadequate in comparison to the size of their trades. Forex traders are compelled to take on such a large and volatile financial risk due to greed or the potential of controlling big sums of money with a small quantity of capital.