Why do Intraday Traders fail or lose money?

The million dollar question and one of most debated topic is more than 85% of the Intraday traders fail or lose money in markets.

Therefore, today let’s see some of the key attribute which day Traders lack and because of which makes them vulnerable to fail are as follows:

No Trade plan

The most important reason for intraday traders to fail is because they usually don’t prepare or don’t have proper trading plan in place.

The right trading strategy, risk management strategy and money management strategies are important part of trading plan, which is required to achieve success in day trading.

Lack of discipline

Usually day traders are prone to fail because of their undisciplined approach towards trading. They as traders don’t follow systematic process and do not use proper risk and money management techniques in place.

The most novice intraday traders don’t use stop losses and mange risk in proper way. The improper risk management leading to failure in day trading because day traders book profits early and take long losses.

Herd Mentality

Many day traders listen to media analysts or brokers , friends, relatives, tips providers and act upon their views or recommendations. Because of this they fall prey in the search of quick profits.

Repeated Mistakes

Most of the day traders do repeated mistakes in their trading by over leveraging and not managing risk as well as money in proper way. As a result, due to lack of discipline with no trading plan people do mistakes and lose money.

Fear & Greed

Most of the people as day traders can’t control their sentiments or emotions. The fear of losing money and/or greed to make more money with having any objectivity leads to failure for day traders.

Therefore, the right mindset is important to be successful in day trading. Because it’s popularly quoted by some legendary traders, “stock market is toughest way to make easy money”.

In our next educational blog post know, “why Day Traders lose money in markets“?

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