I disagree. When I was tape reading I'd spend no longer than 45min - 1hr trading during periods of high volatility.
All I was doing was increasing my position size (whilst risking no more than 1% of my account) and I'd stop trading once I hit my daily target - if at all. Sure there were days when the market just wasn't friendly, but for the most part I'd come out profitable and I'm not even that great of a tape reader. The US open is great for tape reading as it goes nuts on the initial open and the ability to read the orders and volume enables you to scalp the hell out of it until the dust settles. There's even some US prop firms who encourage their traders to spend no more than a few hours trading each day.
The only reason I stopped is because I live in New Zealand and just cant do the late nights anymore (not to mention I'm busy with other ventures).
It's not an amazing strategy.. but if you're gifted at reading the order book and have the ability to trade a large position size (i.e, >10 contracts) then it's possible.
