A Study of Trading Behavior of Individual Investors at a Discount

A study of trading behavior of individual investors at a discount brokerage found that individual investors:

A) trade very actively,despite the fact that their performance is actually worse because of trading costs.
B) trade very conservatively,despite the fact that their performance is actually worse because of trading costs.
C) trade very actively,partly because their performance is better than the professionals' because of low trading costs.
D) trade very conservatively,partly because their performance is better than the professionals' because of low trading costs.
E) trade very actively,because they avoid the costs associated with hiring a professional.