There is just one study: About day trading in Taiwan and it has been cited and mentioned by numerous folks here and in academia multiple times as if there are lots of research in this topic.
There are various types of trading: - swing trade stocks - day trade stocks - trade options (vertical, horizontal, diagonal ....) on stocks / futures ... - trade commodity calender spreads - trade spot forex - heavy scalping futures - day trade futures etc etc etc of all these, the easiest to trade is DAY TRADE FUTURES. Because it is easiest to earn tons of money. and every day after trading, you wouldn't have sleepless night. But do note it may take many years / decades to develop your own holy grail.
The research/study seemed quite rigorous to me. It is much better, in my non professional opinion, than the Taiwan study. Those of you who said they only studied new day traders obviously did not read the paper. They studied the outcome of those who persisted and traded > 1 year. There were no improvements.
What is telling about day trading is the following: After all these years, there are exactly two rigorous studies on day trading, one from Taiwan the other from Brazil. The US, where financial markets are supposed to be the most transparent, data are most complete and available, has none? When I first learned to day trade I ask Schwab to see if there were studies, either internal or external on day trading, got a blank stare. Why is it so difficult to study when data are available? Could it be all brokerages are afraid to let the cat out of the bag? On ET, most who spoke out against the paper claimed to be successful day traders making a nice living day trading and I don't have reasons to doubt you. I am just telling you I couldn't and gave up, went swing, later swing options and never look back. My hat off to those who are able to make a living day trading.
right mister. what works for one person may not work for another person. I went from swing to day trading.
This discussion could all just finish with: 1. Daytraders posting their broker P&L of the last 3 years combined with their Tax Returns 2. Educators posting their broker P&L of the last 3 years combined with their Tax Returns There is a reason why we do not see that. The reason is that no educator makes enough money doing what he is teaching. If it would be. I would probably not be able to open a browser to go on the internet with adds flying in my face showing these P&Ls with Tax Returns. Yes, day trading for a living is possible, but realize it is a 1% thing, literally, so most people should just save their money and time and take up another route in life for financial independence. Trading must be officially one of the worst paths in life to become financially independent.
How are American or European daytraders smarter than Brazilian daytraders? Oh right, CNBC is American lol. If you can demonstrate this other than shitting on an entire nation without any factual reason then you would start to make sense. So far you don't. Looking at most on this site who dropped out from highschool I totally believe this study equally applies in other countries.
Bullshit. What's the percentage of carpenters who train and subsequently work but fail? My hunch is that it's lower than 30%. 70% make a decent living. Smae with plumbers, farmers, nurses, electritions, teachers, police men. Daytraders? The percentage of failure was always in the upper 90s and I always stated and believed it's closer to 97-99%