Can T levels predict trading profitability? Testosterone level (+ androgenic metabolites) and risk-taking have a bidirectional relationship. So in a bull market, where it pays to put more risk on the table (sensibly), it may be beneficial to have higher T levels. There are actually some studies on this as well. - Traders with higher 11:00 a.m. testosterone levels made significantly greater profits for the rest of the day. - Days with above-median morning testosterone yielded 25% higher profits on average. - Testosterone rose on days when traders exceeded their monthly average P&L. - This suggests a "winner effect," where success boosts testosterone, potentially encouraging further risk-taking. Is there a wealth transfer occurring from low T to high T men?