Trader psychology expert Brett Steenbarger recommending NY Times’ article, "
Keys to Daytrading Success and Why So Few Traders Get There
By Brett Steenbarger at TraderFeed
Thanks to several alert readers for sending me this insightful New York Times article on daytrading and the challenge of daytraders.
A while back, I posted on the topic of research concerning individual daytraders and how many of them are truly successful. That is worth reading or re-reading: it clearly indicates that most active trading is hazardous to traders’ wealth, but that a small group of participants are able to sustain success.
This is not like most career fields, where an average teacher, middle manager, or sales person can sustain a living. An average performance in trading is one in which the trader does not make money at all. The Times article cites research suggesting support for the often-cited statistic that 80% of daytraders lose money.
