With the wealth of information on trading including indicators and technical analysis tools why do people still fail to trade successfully?

Firstly because a large percentage of generally accepted technical analysis and most indicators and similar things are categorically NOT an objective edge in the market. Those things are by definition backward looking, and the past does not predict the future, period.

Secondly because our DNA has some problems in it. We are designed right for a hunter gatherer existence, but when a share you own goes down it hits you right in the feels, in fact it feels like you could die from this. We become greedy when we ought to be fearful because we are social animals (just a slightly smarter than usual species of monkeys) and when everyone else is greedy we tend to be greedy too.

Thirdly because trading is DIFFICULT. It’s really really hard to find an edge, and maintain that edge in the market. It took me years before I just stopped losing money, most people just think they can read a book or two and watch the money roll in.

Fourthly because the advice about trading on the internet is mostly either too general to be of use (cut your losses and let your profits run), or from people who aren’t successful traders in their own right. The percentage of legitimate trading coaches/mentors/teachers in the retail space is so low as to be non-existent. In the real world nearly everyone selling a trading course is in actuality a failed trader themselves. For example Tim Knight of very highly rated blog SlopeofHope.com ran a fund which basically blew up his investors money, he has been continually bearish since 2009. But you should subscribe to him and pay him money for his “tips”. It is axiomatic that “professionals do not buy systems, professionals do not sell systems”.