Fear and greed in financial markets
a clinical study of day-traders
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Author
Contributions
- Repin, Dmitry V., 1973- - Contributor
- Steenbarger, Brett N. - Contributor
- National Bureau of Economic Research. - Contributor
Publication
2005 - National Bureau of Economic Research, Cambridge, Mass, Massachusetts
Language
English
Word Count
6,000 words, Guess
Page Count
24 pages
Identifiers
- OCLC Control Number59164768
- Open LibraryOL17625944M
Classifications
- LCCHB1
Description
"We investigate several possible links between psychological factors and trading performance in a sample of 80 anonymous day-traders. Using daily emotional-state surveys over a five-week period as well as personality inventory surveys, we construct measures of personality traits and emotional states for each subject and correlate these measures with daily normalized profits-and-losses records. We find that subjects whose emotional reaction to monetary gains and losses was more intense on both the positive and negative side exhibited significantly worse trading performance. Psychological traits derived from a standardized personality inventory survey do not reveal any specific "trader personality profile", raising the possibility that trading skills may not necessarily be innate, and that different personality types may be able to perform trading functions equally well after proper instruction and practice"--National Bureau of Economic Research web site.
Subjects
Topics
Series Statement
- NBER working paper series -- working paper 11243.
- Working paper series (National Bureau of Economic Research) -- working paper no. 11243.
Links
Other Editions
- Fear and greed in financial markets: a clinical study of day-traders
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