Everybody go into trading with one intention an that is to gain more money, nobody have the intention of failing. But in business, it's either you gain or lose which is why we should prepare ourselves while going into trading.
A lot of people go into trading without any proper understanding in it, they lack the understanding of trading and the trading principle which can cause them t lose money without even knowing.
Intraday trading is a day trading where the price of security keep bon fluctuating through out the day and the security bought must be sold within the day and the intraday traders will try to make profit on the price swinging of the asset because they rely solemnly on the price fluctuation within the same day.
Intraday Trading might help a trader to make a great profit and at the same time the trader should know how this strategy is highly risky. Not all the traders manage to get the advantage of market price swing, which makes the higher percentage of intraday traders lose money in the process because they couldn't acknowledge the market price fluctuation which lead them to make a wrong decisions.
There are some things the intraday traders lack that makes them lose their money and the first of it is lack of trading discipline. Intraday trading needs a proper planning ahead of trading and needed to be stick with. The plan show the clear motive on how to go about your trade to help reduce the loss.
Many intraday traders fail because they lack proper risks management scheme. They fail to set a stop loss order which caused them a huge loss at the end of the day.Traders must know when to stop trading if things are not favourably as this will prevent the loss of their capital.
Most trader find it hard to accept their loss and continue to trade aggressively. A trader must know that losing is part of trading game. In other to prevent excessive losses, it is better to stop trading and accept the loss instead of keep trading to recover the loss and have a plan for the next day.
Intradayay trading is very risky. It is easy to win and lose greatly. Some day traders see exploit trade as an opportunity to trade in large quantities and make a quick profit. Over trading during a day trading can lead to an immeasurable loss that will force many traders out of the market because will lose both their capital and leverage, most especially when the market fall.
Another cause of intraday traders to lose their money is that they don't remember that it's not every day that is a trading day.
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