Quote from R. Raskolnikov:
Non daytraders don't seem to understand this, yet it's reality.
Agreed, Rasky. I think non day traders, especially those who read Jack, have a fellacious view of the reprehensible practice. They think we sit there flashing in and out of the market, or constantly reversing, as Jack advocates. Truth is that the profit expection, whether backtested or surmised, varies wildly with the day of the week, the time of day, the season, the impending or released news, and outside influences like the euro or oil. So I think each of us evolves a style which suits our risk appetite. This may very well look from the outside like we are asleep.
