Senin, 28 Februari 2011

majority individual traders fail early in their careers

"if far fewer day traders are profitable after costs

what keeps new traders coming (into the market)?

.........overconfidence plays an important role

just as participants in lotteries and casinos overestimate their odds of winning,

individual day traders may place too much confidence in their ability

to read market patterns out of the gate.

...the majority of individual day traders fail relatively early in their careers,

something that has been mentioned to me by executives at brokerage firms"

-dr.brett steenbarger

author of 'the psychology of trading'

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