My (perhaps dopey) opinion is that there should be a sliding tax on sells dependent on time held. That tax would be prohibitive on micro time span holds, reducing to a minimal figure after (say) one month.
IMO short term trading is totally unnecessary. If one wishes, to 'invest' in a company, one should be encouraged to hold for a reasonable time.
Short term trading is governed by the interests of expendable fat cats, who become even fatter by peddling a myth of necessity.
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