"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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