In my trading experience, people mostly fail due to a lack of preparation and bad trading psychology. Now, let me break it down a bit, the lack of preparation could be the inability of the trader to be able to secure a viable trading strategy and management that will help such to in turn build a good trading system. In the absence of this, there is nothing you are doing in trading that can ever be successful because you never had that good direction finder (signal) and the account protector (management) which are the main things important in the market for any traders trying to find their firm feet in the market.

The second part is psychology, if this is wrong, no matter how good your trading system and plans are, they will always fail you in this situation. I am a living witness to this and it affected me for many years despite having a time-tested trading system yet, I failed in trading for too long simply because of bad trading psychology. However, this trading psychology is in categories, one might be your case while another might be the case of others. Just like you might not be greedy, but you are just too anxious, and this anxiety is an issue in trading. To some, it is fear of the unknown, to others, it is curiosity and the love of their money. If the money is too precious to you or it is such that you can't afford to lose, it is a serious issue. This is why I urge every trader to be self-disciplined when trading, you should do what you plan to do and shun any temptation whatsoever.