I came across an
article where researchers found that
3% of traders make money and with less than 1% making more than minimum wage.
A new study of day traders in Brazil 3 academics, 2 from the Sao Paulo School of Economics and another from the University of Sao Paulo, undertook a comprehensive analysis of options and futures day traders in local equity markets and shown that this is almost certain to be a total nonsense.
The academics looked at just under 20,000 new traders and found that, over time, they lost more and more money. Of those that traded for a single day, roughly 30% turned a profit. Conversely, only 3 percent of the people that traded for over 300 days made any money.
In fact, the researchers found that the longer that someone traded, the more money they lost. This pattern can be seen in the casino roulett, said the academics.
>> If day trading is not profitable, then why do people still do day trading?If you know the game "zero sum", you can certainly understand trading like forex and crypto is zero sum game, the results will be different if the researchers are researching other trades. In crypto trading, whether daily or long-term, the results will be zero sum, so half of those who lose half also gain profits, if you trade real goods that have usability they are clearly benefited, both buyers and traders.