People fail in intraday trading for various reasons, such as:
– Lack of proper education, research, analysis, and planning before entering a trade. They may rely on tips, rumours, or gut feelings instead of facts and data.
– Lack of proper risk management techniques, such as setting stop-losses, taking profits, diversifying portfolio, limiting exposure, etc. They may risk too much or too little on each trade.
– Lack of proper trading discipline and psychology. They may let their emotions such as fear, greed, anger, or frustration influence their trading decisions. They may also deviate from their trading plan or break their own rules.
– Lack of proper trading tools and resources. They may use outdated or unreliable platforms, software, charts, indicators, or signals. They may also face technical issues or errors that can disrupt their trades.
– Lack of proper evaluation and improvement. They may not keep track of their trades or results. They may not learn from their mistakes or successes. They may not adapt to changing market conditions or trends.