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Weekly Update 12-6-20

Posts / By CJ

What a week.

Corona-Virus continues to wreak havoc on most everyone’s personal and business lives as new cases are growing – New lockdowns are getting issued in different regions depending on your location.

Pfizer gave hints that it will take months for the US to deploy the new Covid-19 vaccine

The November Jobs report missed economists views by quite a bit.

And even with all that the markets still continued to climb to new highs.

Investors Business daily has the market in a …

It appears Congress is on the verge of passing a new deal to help with the economic woes due to the virus. If that happens to fail it could cause some draw downs, but only time will tell.

Day to day anything can happen in the market but overall the markets are very strong and trending upwards. The market internals support the strength and the types of trades coming out of this market continue to be solid.

It’s best to be on the long side of the market now.

Link Below downloads this weeks setups.

TradingTheSetup-Newsletter-12-6-20

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Available research data suggests that most day traders are NOT profitable.

In a research paper published in 2014 titled “Do Day Traders Rationally Learn About Their Ability?”, professors from the University of California studied 3.7 billion trades from the Taiwan Stock Exchange between 1992-2006 and found that only 9.81% of day trading volume was generated by predictably profitable traders and that these predictably profitable traders constitute less than 3% of all day traders on an average day.

In a 2005 article published in the Journal of Applied Finance titled “The Profitability of Active Stock Traders” professors at the University of Oxford and the University College Dublin found that out of 1,146 brokerage accounts day trading the U.S. markets between March 8, 2000 and June 13, 2000, only 50% were profitable with an average net profit of $16,619.

In a 2003 article published in the Financial Analysts Journal titled “The Profitability of Day Traders”, professors at the University of Texas found that out of 334 brokerage accounts day trading the U.S. markets between February 1998 and October 1999, only 35% were profitable and only 14% generated profits in excess of than $10,000.

The range of results in these three studies exemplify the challenge of determining a definitive success rate for day traders. At a minimum, these studies indicate at least 50% of aspiring day traders will not be profitable. This reiterates that consistently making money trading stocks is not easy. Day Trading is a high risk activity and can result in the loss of your entire investment. Any trade or investment is at your own risk.

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