Why do most people fail doing it?
Daytrading
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They fail to learn from their mistakes.
Weak hands
I tried and with mediocre to bad results but I am newbie and I am sure one can get a hang of it if one cares to do so; Staring at charts all day is not worth it IMO desu especially considering you can get decent results following daily trends and being patient.
idk, its my first week and i double.
This one basically.
Most people trade money from their actual savings which they cannot afford to lose. When they see a market going down they get panicked and start selling with huge losses , they dont have the patience to wait for like 6-12 hours
A lot of people just kind of follow memes and hope that they get lucky. Sometimes they do just by being in the right place at the right time.
The trick is to look for the signs of Smart Money (Those who trade in big volumes) in action and to follow the trends they create.
Emotion
the more I daytrade the more I edge closer to a complete psychotic break