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Almost 60 percent of online day traders lost money in their first three
months of activity, but after about five months' experience, 65 percent
made money, according to a study of 107 traders by Houston-based Momentum
Securities Management Co. The average loss in the first few months was
$21,479. The 42 percent of traders which scored profits in had an average
gain of $36,222. The Los Angeles Times reported on the study, which
included traders at six of Momentum's offices in Texas.
Robert
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