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a daytrader profile according to a SEC study
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a daytrader profile according to a SEC study

  #1 (permalink)
Market Wizard
virginia
 
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a daytrader profile according to a SEC study

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Special Study: Report on Day-Trading Broker-Dealers

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  #2 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
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Thx, very interesting - I would not have expected the vast majority to have that kind of net worth.

But I wonder how this was conducted -- for instance I think the last two brokers I used asked me to specify my net worth in a drop down list on a web application form. Are they using this data I wonder?

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  #3 (permalink)
Elite Member
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I think they're more likely using floor traders... I don't know that many people trading with that type of account size, and I'm very active in the community. I talk to alot of brokers and traders.
Maybe Big Mike can chime in on this....

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  #4 (permalink)
Trading Apprentice
California, USA
 
Futures Experience: Intermediate
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The report is confusing, it says Networth, which should be your home+car+anything you have... However, in the next 2 lines, it says:

The Staff reviewed a total of 123 trading accounts. The average of the profitable accounts was $177,732, while the average of the unprofitable accounts was $73,756.

Which shows bigger account has a better chance to win..

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  #5 (permalink)
Trading Apprentice
California, USA
 
Futures Experience: Intermediate
Platform: OANDA
Favorite Futures: EUR/USD
 
Posts: 20 since Oct 2010
Thanks: 19 given, 5 received

Plus the report is
February 25, 2000, which is really really OLD.

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