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Probably the biggest problem with short-term trading is that it is rare to
get a reward 10 or 20 times risk because you have to get out at the end of the
day. However, by positioning in vehicles set to move up sharply on a daily
basis, by taking quick day-trade 1/2 profits, and by staying in overnight only
when a large profit exists at the close, short-term traders can book reliable
trades consistently–often big trades with very low risk.
—Mark Boucher, from
The Hedge Fund Edge (1999, John Wiley & Sons, New
York).
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