Objective research to aid investing decisions
Menu
Value Allocations for December 2019 (Final)
Cash TLT LQD SPY
Momentum Allocations for December 2019 (Final)
1st ETF 2nd ETF 3rd ETF

Day Trading a Bust?

Posted in Individual Investing, Investing Expertise

Can individual investors make a living by day trading? In their July 2019 paper entitled "Day Trading for a Living?", Fernando Chague, Rodrigo De-Losso and Bruno Giovannetti analyze performances of all Brazilian retail investors who begin trading futures on the main Brazilian stock index during 2013 through 2015 and persist in this trading for at least 300 sessions. They use data for 2012 to identify beginners, and they use data for 2016-2017 to extend performance evaluations for at least two years of trading. They consider performance both gross and net of exchange and brokerage fees, but they ignore income taxes and expenses such as courses and trading platforms. They employ subsamples and regressions to measure learning while trading. Using trading records for the specified index futures by all Brazilian investors during 2012 through 2017, they find that:

Please or subscribe to continue reading...
Gain access to hundreds of premium articles, our momentum strategy, full RSS feeds, and more!  Learn more

Daily Email Updates
Login
Research Categories
Recent Research
Popular Posts