研究顯示，成功的當沖交易員比我們想像的多
http://www.cdx3investor.com/ns/articles/apr08_day_trader_research.pdf本帖最後由 sec2100 於 2017-8-19 20:45 編輯
該研究之部分節文:
The unskillful trade for a variety of reasons. They mistakenly believe that theyare skillful; they are in the process of learning whether or not they are skillful at trading;or, like most gamblers, they derive some external and non-pecuniary benefits from trading.The underlying result of this continual process is an efficient marketplace, where losing traders underwrite the winning trader’s efforts.
有人提出了研究特殊的時空背景，研究在2004年發表的，當時還沒有高頻交易。
The study was in 2004 - that is right before HFT's exploded onto the scene. Note how they talk about how much volume day traders generate - these days the HFT generate the vast majority of volume. Pre 2004 you traded mostly with another human, a highly skill trader could often take the bid-ask spread in that era - not anymore.
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