Just having all the important qualities required to succeed as a day trader won’t help, proper selection of stocks for day trading is equally important. Generally day traders fail because they don’t select a proper stock for day trading.
Certain rules are there for stock selection in day trading that will help you avoiding the biggest pitfalls in trading. These rules include:
Trade Liquid Stocks.
Avoid Unpredictable (Chaotic) Stocks.
Trade Stocks with good Correlation.
Move with the Trends.