The #2 mistake - Simulator millionaire- losing live money! The #2 mistake is trading the wrong setups and incorrect trade management. Usually a result of mistake #1 above. When you practice incorrect rules on simulator or replay, or the forbidden #1 LIVE MONEY TOO EARLY, terrible patterns emerge. The trader wins and is given false confidence in their trading abilities. Abnormally, brave on the simulator and taking undue risks, or just getting lucky. The minute the trader goes live, every shortcoming in their prep, plan, and execution will be exposed. Confidence will be destroyed along with the account balance. This is when you must fight human nature and POST YOUR TRADES IN CLASS FOR FEEDBACK.