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Day Traders in Brazil Study Would’ve Done Better With 9-to-5 Job

  • Just 1.1% of day traders earned more than Brazil minimum wage
  • Retail trading has boomed amid pandemic-fueled boredom
RF markets stocks red crash
Source: interstid/iStockphoto

Thinking of packing it all in and embarking on a career trading stocks from a commission-free brokerage account? Good luck with that, says recent research.

Academics from Brazil looked at people doing short-term trades in iBovespa contracts and found that of 1,551 retail traders, just 1.1% posted higher average net returns than the Brazilian minimum wage in a bit more than a year. About 0.5% of the traders, who were tracked for 300 sessions, earned more than the average Brazilian bank teller.