Day traders in Brazil study would have done better with 9 to 5 jobs

Daytrader on his computer

Photographer: Stuart Westmorland / Corbis Documentary RF via Getty Images

Do you plan to pack it all in and trade a stock for a commission-free brokerage account? Good luck with that, says recent research.

Academics from Brazil looked at people trading short-term in iBovespa contracts and found that of 1,551 retailers, only 1.1% posted a higher average net return than the Brazilian minimum wage in just over a year. About 0.5% of traders, who were followed for 300 sessions, earned more than the average Brazilian bank teller.

The study, which agree with others findings about the unavailability of market timing, focuses on trading that is in time and place at a distance from the crazzy of Robinhood – futures trading by Brazilian individuals, as opposed to stock trading in America, although its authors say that the yeast could have a wide application. Written by Fernando Chague and Bruno Giovannetti of the Sao Paulo School of Economics and Rodrigo De-Losso of the University of Sao Paulo, the paper said “it is virtually impossible for individuals to live day to day trading.”