Who Is Successful in Foreign Exchange Margin Trading? New Survey Evidence from Japan

Who Is Successful in Foreign Exchange Margin Trading? New Survey Evidence from Japan

We use a 2018 survey of FX margin traders in Japan to investigate which key factors influence their performance: socio-demographic and economic situation, investment strategy and trading behaviour, and/or financial literacy. First, the data show that variables from all three groups are significant p...

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Detaylı Bibliyografya
Yayımlandı:MAGKS - Joint Discussion Paper Series in Economics (Band 17-2019)
Asıl Yazarlar: Hayo, Bernd, Iwatsubo
Materyal Türü: Makale
Dil:İngilizce
Baskı/Yayın Bilgisi: Philipps-Universität Marburg 2019
Konular:
financial literacy
investor survey
foreign exchange trading profits
Foreign exchange margin trading
Wirtschaft
Japan
Economics
Online Erişim:PDF Tam Metin
Etiketler: Etiketle
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Özet:We use a 2018 survey of FX margin traders in Japan to investigate which key factors influence their performance: socio-demographic and economic situation, investment strategy and trading behaviour, and/or financial literacy. First, the data show that variables from all three groups are significant predictors of traders’ performance. Second, we find that older traders and those without a specific trading strategy demonstrate lower performance. Performance is higher for those who trade greater amounts, rely more on fundamental analysis, and report having profitable FX trade skills. Third, respondents’ subjectively stated claim of having FX trade skills is based on a more advanced understanding of FX trading and a reliance on professional advice. Neither objective financial knowledge nor over/underconfidence play a noteworthy role in the performance of margin traders.
Fiziksel Özellikler:23 Seiten
ISSN:1867-3678
DOI:10.17192/es2024.0612

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