There are many errors made in stock trading that can be traced directly to psychological factors. Here is a list of some of the most common mistakes traders make and the psychological reasons for them.

1. Starting a trading day unprepared (insufficient alignment of planets, too few trading candidates, average or weaker opportunities, no appropriate strategy selected, unskilled at selected strategy, unreliable Internet connection). (LAZY or UNCOMMITTED)

2. Trying to guess the bottom of a falling price to go long, or the top of a rising price to go short. (GREED)

3. Choosing to violate your strategy's trading rules. (EGO)

4. Failing to exit your trade when an unexpected, but fact based, loss is occurring. (EGO)

5. Waiting too long to enter a trade, after planets are aligned and the time is right. (FEAR)

6. Failing to continue overnight with a trade which did not perform as predicted at first, but has good reason to perform as predicted in the near future. (FEAR)

7. Failing to search for more candidates past the few that you are most familiar with. (INFATUATION, LAZY, FEAR)