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Yes, it certainly looks like what would be dictated by statistics with random chance that eventually reverts to a slightly negative mean.

In the short term it's not that unusual to flip a coin and get 5 heads in a row, but the more you throw the closer to a 50-50 split you'll see.

I'd also be very interested to see what would happened, hypothetically, if everyone just stopped trading after some fixed number of hours, held that position until the point when they decided to give up trading, and then liquidated it.

My hypothesis is that their average returns would end up being much higher than the returns they realized by day trading that whole time, due to less money being lost to fees.

ICO bagholders disagree

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