Which Statement Below Is INCORRECT

Which statement below is INCORRECT?

A) Arbitrageurs seek price discrepancies among securities and attempt to extract riskless arbitrage profits.
B) Hedgers try to reduce risk by trading securities and are often cited as the chief reason for the existence of derivative markets.
C) Position traders (also called trend followers) maintain speculative trading positions for longer periods of time.
D) Scalpers open their positions in the morning,try to profit from price movements over the day,and close their positions at the end of the trading day.
E) Speculators often take calculated risks in their pursuit of profits.