Lack of Confidence in the Method
When you truly believe in something, you simply do it. Your trading strategy should be the same. Make it ingrained and practiced until it becomes second nature. Know that following your strategy works and that doing anything outside of the strategy is unknown and thus not worth the risk. How can you gain this kind of confidence in your method? There is only one way, and that is to practice it until there is no doubt in your mind that it works. This may take several months, but it will greatly contribute to reducing many of the mental errors mentioned above.
Not Preparing for the Day
Your life may be busy, but ensuring you are ready for the trading day is a necessary step. This includes simple matters such as checking the schedule for high-impact economic data releases or verifying the stocks, currency pairs, or futures you are trading for scheduled news (earnings, commodity reports, etc.). It means making sure your trading platform setup is correct, that you are focused (the next discussion), and that you have eaten and gone to the bathroom… so you don’t have to leave your trades/potential trades at an inconvenient time. Establish a daily trading routine that you follow every day; this will help you avoid mistakes like being distracted when a major news event happens. It’s easy to take these matters lightly and forget to do them on certain days. This is a significant mental error.
Trading While Sick or Distracted
Sticking to your trading strategy requires mental effort. When you are sick or focused on other matters (perhaps relationship or family issues, health problems, or financial troubles), the attention needed for trading gets divided. It makes us more susceptible to
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Source: https://www.thebalancemoney.com/day-traders-five-mental-errors-to-help-you-lose-money-1031427
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