What else should I know to trade better in the Forex market, manage risks, and make more informed decisions? I think all traders want to earn well, but for some reason, some succeed while others remain in the red.

I believe that experience and overall market knowledge play a significant role here. The Forex market seems to me like a large system where its own algorithms and Forex patterns operate. This is explained in a clear and accessible way in https://www.sustainablebusinesstoolkit.com/forex-patterns/ by SBToolkit, which discusses various patterns and how they can help predict market movements. Of course, these will still be your assumptions, but they will be backed up. This largely affects a trader's success.