Most people tend to overestimate their skills, whether it's changing an electrical outlet or managing their own finances.
73% of Americans consider themselves to be better-than average drivers
65% of Americans think they have above-average intelligence
Behavioral finance has a name for this ego-driven tendency: overconfidence bias.
Let's find out whether the theory is true or not together
Source:
Fundamentals of behavioral finance: Overconfidence bias

Hi, moomooers, we notice that many of you have problems regarding PDT (Pattern Day Trader). PDT is a basic rule but important. Today, we will go through it with an explanation and solution.
What is PDT?
Firstly, we should be clear that PDT is a term defined by FINRA (Financial Industry Regulatory Authority). It refers to any trader who executes 4 or more “day trades” within 5 business days using the same account. Under FINRA rules, traders, who are marked as PDT, must have at least $25,000 in their accounts and can only trade in margin accounts. 
What is day trade?
A day trade is defined as buying then selling or selling short then buying the same security on the same day. Simply purchasing and holding a security would not be regarded as a day trade. If you sell short and then buy to cover on the same day, it will be considered a day trade. The day-trading margin rule applies to day trading in any security, including options. Futu does not promote day-trading.
How to kn...