I would also add that many traders not only get frustrated that their strategy does not seem to be working, but they constantly change their strategy, based on short-term results of their old strategy.

Not only is this counterproductive, it also is not a good way to measure their strategy success rate. 

I used to do that in my newbie trader days as well. Strategy A did not work yesterday, therefore I implement strategy B - Big mistake that cost me a lot of profit, had I only stuck with strategy A for longer.