Hi all, was reading this and thought it might stimulate some debate...
from http://www.investorhome.com/daytrade/profits.htmAccording to an article in the NYTimes (Do Diligence (RR) (8/1/99)) day trading has exceptionally high "washout rates" and "regulators who have examined the books of day-trading firms say that more than 9 out of 10 traders wind up losing money. Because most of these people disappear quietly when their cash runs out, few who replace them in the trading rooms know about them or their failures."
So, IF becoming a day trader IS viable, what characteristics are needed? As the article says, intelligence isn't a factor - many clever people can't make the grade.
Thoughts?
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