I'm Gonna Get Rich!

From the Slope of Hope:

Recently I stumbled upon some recent academic research in the form of this study which seeks to find out just how many day traders actually make money. I mean, let's face it, there's no shortage of come-ons on the Internet, in the form of videos...........

........and books...........

.........the posts..........

The general idea being that YOU, yes YOU, can make a fortune doing day trading, if you're just willing to take the time to learn the ropes. Of course, intuitively, one would think that the billions of dollars of computers that professionals have at their disposal would be doing a crackerjack job making the markets efficient, which sort of makes the role of day traders unnecessary, but who am I to question the wisdom of day trading academies?

In any case, here is a salient snippet from the study:

3% profitable. 97% losers. WOW. Honestly, read the highlights. It's a scream.

They go on..........

In short, the longer day traders try, the worse it gets. The chaps who put the academic study together provide this helpful chart:

Pretty fascinating stuff! Give the link at the top of this post a click to browse their research. The study is quite new, and although the data is culled from Brazil, it is based on trading one of the most active equity futures contracts in the world, so I daresay the findings are absolutely appropriate for the United States trading market as well.