It is not clear to me that the strategy is a good one if most of them end up losing money. I do think a lot of it can be due to the other things you mention, like not managing funds or emotions, but then they are moving away from the strategy. For one thing or another I think that if you want to make money you better invest for the long term and if you want to make trades that are punctual in time. The more frequent the trades, the less likely you are to make money, either because of a bad strategy or because you mess up.