The mood at the office where Glick trades is serious, but perhaps not as tense as you might expect, given a national study of day trading. That study found that 70 percent of day traders actually lose money.
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"The day traders may not even know what the company is. They're just buying a symbol going across the computer screen," says Hildreth.
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Psychological Addiction. According to Ed Looney, executive director of the Council on Compulsive Gambling of New Jersey, day trading is “like crack cocaine – it’s much more addicting than other kinds of gambling.” Some psychologists suggest that gamblers and day traders are similar in that they tend to be competitive and of above-average intelligence.
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