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?