What is the biggest risk in forex trading?

I'm curious to know, what would you consider to be the biggest risk associated with engaging in foreign exchange, or forex, trading? Are there any specific factors that traders should be especially cautious of when navigating this potentially lucrative but also risky market? Is it related to the inherent volatility of currency pairs, the leverage involved, or perhaps something else entirely? Understanding the major pitfalls is crucial for anyone looking to get involved in forex trading, so I'm eager to hear your thoughts on this topic.