Day trading for a living?

dc.contributor.authorChague, Fernando
dc.contributor.authorDe-Losso, Rodrigo
dc.contributor.authorGiovannetti, Bruno Cara
dc.contributor.unidadefgvEscolas::EESPpor
dc.date.accessioned2020-02-14T12:42:39Z
dc.date.available2020-02-14T12:42:39Z
dc.date.issued2020-02eng
dc.description.abstractWe show that it is virtually impossible for individuals to compete with HFTs and day trade for a living, contrary to what course providers claim. We observe all individuals who began to day trade between 2013 and 2015 in the Brazilian equity futures market, the third in terms of volume in the world, and who persisted for at least 300 days: 97% of them lost money, only 0.4% earned more than a bank teller (US$54 per day), and the top individual earned only US$310 per day with great risk (a standard deviation of US$2,560). Wefind no evidence of learning by day trading.eng
dc.identifier.siciTD 525por
dc.identifier.urihttps://hdl.handle.net/10438/28801
dc.language.isoeng
dc.relation.ispartofseriesFGV EESP - Textos para Discussão; TD 525
dc.rights.accessRightsopenAccesseng
dc.subjectDay tradeeng
dc.subjectDay trading for a livingeng
dc.subjectRetail investorseng
dc.subjectHFTeng
dc.subjectCourse providerseng
dc.subjectFutures marketeng
dc.subject.areaEconomiapor
dc.subject.bibliodataEspeculação diária (Finanças)por
dc.subject.bibliodataMercado futuropor
dc.subject.bibliodataInvestidorespor
dc.titleDay trading for a living?eng
dc.typeWorking Papereng
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