Traders become failed before but because of that failure they will not do that again and change their routine in trading which is changing startegy and keep learning in trading to get more profit. But knowledge is really big help for us.
I see that many of us get motivation from other people to experience, so they get a new lesson to trade. If we can do that every day, I am sure that our skills will improve and that will be useful to us to detect the right price to buy and sell. If we are lost but we can learn from losing, we can know how to prevent the same thing in the future. And the best is we can have the experience which other people cannot get. Yes, knowledge will be the most important thing that we need to have.