This argument is essentially hare versus turtle. With day trading, the average individual often invests a lot of emotion and relies on "hunches" (theirs or those from "experts") to make a buck.Day trading is for some people as tempting as a Lotto ticket or Vegas get-rich-quick weekend -- a tremendous psychological pull. It's faster paced and promises a much more exciting ride. The problem is trading costs and timing typically eat away at returns and relying on hunches and emotions is a proven route to buying high and selling low.
The bottom line is the old adage, "if it's too good to be true..." All of the commercials, email and websites promoting "hot tips" "new strategies" and "fail proof solutions" are just that. My advice is to allow yourself some fun if you're determined to day trade -- limit the value of this account to no more than 5% of your overall investments and realize that you no longer have a latte account in exchange!
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