The number of accounts, he said, has remained fairly consistent even as the volume has fallen off greatly. Jennifer Koski, an associate professor of finance at the University of Washington School of Business, said brokers tell her that day trading has declined as much as 90 percent. Still others report a more minimal slowdown. Robert Luecke, owner of Bellevue's RML Trading, says that he's seen only a 30 percent dip. John Unune intently watches his screen as he trades at All-Tech.
Experts say the cooling economy and falling stock prices have put a damper on day trading.
But, Koski said, it's difficult to get an accurate number because those who day-trade execute deals from many different locations. And, she said, traders who make money are more likely to talk about it than those who lose money. Yet, Koski believes the drop in day trading has been considerable. When the market was going up so quickly, a lot of people were making money. But you have to be careful to differentiate skill and luck.