The market needs a variety of participants operating on different strategies across different time horizons with different risk tolerance levels to enable price

The market needs a variety of participants operating on different strategies across different time horizons with different risk tolerance levels to enable price discovery and liquidity. If everyone (loosely speaking) were buy and hold and active trading was vastly curtained market liquidity would be hurt. The heterogeneous nature of market participants makes for a healthy, vibrant, and liquid market for all. [former registered market professional]