The main reasons why most traders fail in trading

The main reason that most traders fail in trading is having overload of information.
What do I mean by the overload of information? Below are some examples.

1. Indicators
There are so many indicators we can use today and it is very easy to access across the website and books. Hence traders are too fancy on putting in indicators in their charts. They tend to use more indicators to create a high probability setup.

2. Strategies
Trading ideas are all over the place. We have scalping, long term, short term, hedging and so on. Traders tend to jump from one strategy to another. They tend to find the “best” strategy to become the best trader and making millions overnight.

3. Market gurus
Today we could find so many market gurus claiming that they are the expert in trading and can lead you to become a millionaire. I do not doubt that some market gurus are really good and genuine. Unfortunately one must know how to verify if he/she is a good guru instead of a trap into his marketing plan.

Stop creating fancy indicators and adding everything in your chart! Stop chasing a new strategy! Stay focus and know your objective.