Why do 90% of traders lose money?

Traders trading without a trading plan and not having proper discipline are bound to loose in stock market, as they are unable to change the sides quickly end up being a loser. As per Stats only 5% traders are able to make money on "consistent" basis in the market in long run. So what makes trading so fascinating that only 5% traders are able to learn lets look into the reasons.
1.  They will never trade for living for initial 5 years of trading, They use this time to get acquainted with all kind of market situation understand the value of 3 M in trading . The need for steady money like a weekly paycheck will corrupt your thinking and force you to deviate from your plan of action that was so well thought out prior to the heat of the battle.
2. They will trade only with money they

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