Sunday, March 28, 2010

Day Traders 2.0 - Wired, Angry and Loving It - NYTimes.com

Read the full article for a stark reality check on day trading 2.0

So why do people persist in this line of work?

“The technical term is thrill-seeking,” says Hersh Shefrin, a professor of behavioral finance at Santa Clara University in California and author of “Beyond Greed and Fear,” an exploration of investors’ mindscapes. “There’s an adrenaline rush. And the thing about day trading is that it gives you pretty quick feedback. If you buy and hold, a lot of things need to happen before you see a result, and much of what happens relates to external factors that are beyond your control. With day trading, you’re in charge.”

Also, he says, “people enjoy trading.”

Day Traders 2.0 - Wired, Angry and Loving It - NYTimes.com

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