
When Day Traders Do Well, It’s Probably Just Luck - bookofjoe
https://www.wsj.com/articles/when-day-traders-do-well-its-probably-just-luck-11596898228
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mrnuclear
In my mind, day trading is like poker in the sense that it’s a game of skill
and luck, and, more importantly, the sharks eat the minnows. I refrain from
day trading because I presume I lack the capability to outsmart the sharks.

The article mentions there exist hedge funds that consistently perform well,
but it doesn’t mention that they’re likely making their profit by feasting on
the errors of less skilled traders.

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bookofjoe
[https://archive.vn/oTB6q](https://archive.vn/oTB6q)

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Solstinox
If you have a big enough starting pool of people engaged in a mostly chance-
based activity and they all have low odds for success, after a few iterations
you still end up with a hefty number of people who _look_ like they've got it
all figured out.

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TomMarius
Suppose that's true, how can people after they get training get so lucky they
outperform even most software engineers with their earnings - consistently,
for decades?

