"Glorified gambling" is a pretty accurate description of this. However, that isn't necessarily a bad thing. If you have a situation where you can gamble with a long-term positive edge, then the proper strategy is to play with as much money and for as long as possible. The determining factor here is whether or not the combination of a particular investor's strategy, algorithm, and ability to execute will give them a long-term edge over others in the market - not whether or not this may be a risky activity in the short-term.