Day Trading American Bitcoin Corp. Stock May Not Be Worth the Risk
American Bitcoin Corp. (ABTC) stock has been in the spotlight recently, but research suggests that day trading may not be as profitable as it seems.
A study published in 2019 by Fernando Chague, Rodrigo De-Losso, and Bruno Giovannetti found that 97% of traders with more than 300 days actively trading on the Brazilian futures contract market lost money. Only 1.1% earned more than the Brazilian minimum wage ($16 USD per day).
This study is in line with earlier research by Brad M. Barber and Terrance Odean, who found that most active traders lose money due to overconfidence and overtrading.