Bad Analysis

Overconfidence is your biggest enemy:

"A recently-published study by Brad Barber and Terrance Odean from the University of California found that overconfidence seems to play a key role in explaining why retail investors underperform when they switch from phone-based to online trading. This is the opposite to what one might expect given that 'straight-through' order processing is widely promoted as a positive development which leads to faster, more profitable trading results."

http://www.wrenresearch.com.au/research/020902au/index.htm
 
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