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There’s a risk involved with basically everything in life. Well. Anything that’s fun and useful at least. But as you know With great power comes great responsibility. It is moral as well as material mandate for the holder f the power to use it only for good purposes. The miss use of power should be avoided at any cost.

Psychic powers are no different from any other powers, in spite, their intensity and magnitude is way more immense than any other physical power. So, a great deal f responsibility lies on the shoulders of the holder of the power. He must make sure that he always uses his powers in a positive direction. Moreover, he must have full control over his powers.

Psychic powers make a person very strong but with benefits, there are also some risks associated with psychic powers.

The biggest risk is the end of self improvement and spiritual growth of a person who pursues psychic trainings to seek more psychic powers. The psychic powers and knowledge gained by a person can be used to fulfill one’s own selfish desires on the cost of other people. In the interpretation of a situation or event, a psychic can be wrong. Due to his wrong interpretations, he might unintentionally miss guide and miss lead the other person. The misguided person can make a wrong decision which can cost him even his life.To mitigate these risks, a psychic should develop concentration ability, mind control, willpower, and self discipline. 1

"Things aren’t all sweetness and light in the spirit world, and you must learn discernment. This means if you want to develop your psychic abilities, first make sure you have a solid set of ethics and a sound spiritual foundation. Otherwise you could be tempted into doing bad things to other people, or dealing with bad spirits.

I’ve known some people who are very gifted psychically who were unethical and spiritually bankrupt. They used their gifts however they wanted. For example, I knew a psychic who was good at reading minds. She believed that because she could do it, she was entitled to do it, and entitled to use that information any way she wanted. She also used her abilities to psychically attack people she didn’t like. Bad juju. She’s the sort who gives all psychics a bad name.

And know your strengths. As 1 Corinthians 12:8-10 says, “To one there is given through the Spirit the message of wisdom, to another the message of knowledge by the same Spirit, 9 to another faith by the same Spirit, to another gifts of healing by that one Spirit, 10 to another the working of miracles, to another prophecy, to another distinguishing between spirits, to another speaking in various tongues, and to still another the interpretation of tongues.”

In other words, our Creator has given us these gifts, and not everyone has them. So although many people can learn to communicate with spirits, not everyone can easily learn to distinguish (discern) between the good and bad ones. (I’m using “good” and “bad” loosely.)

As for other dangers, I’ve encountered demons on various planes of existence, including in people possessed or being run by demons. If I hadn’t had the spiritual foundation that I have, I would have been in spiritual and even physical danger. But instead, I was able to deal with those demons (and the people) with understanding and compassion, and I wasn’t harmed. (Yes, even demons deserve compassion.) The less harm you have in your own heart, the less able harmful things are to hurt you.

If you are strongly drawn to developing your abilities, go ahead, but “be wise as serpents and harmless as doves.” (Matthew 10:16)" 2  - Marina Michaels, Lifelong psychic, medium, channeler, energy healer

1 http://www.abn.info.ve/the-risk-of-psychic-powers/

2 https://www.quora.com/Are-there-any-dangers-in-psychic-development