Here's an observation that only the most sophisticated of 'retail' day traders can overcome. BOTS (trading machines) constantly adjust millisecond trades based on stop-loss levels, twitter chatter and a variety of other factors. It is simply impossible for a human 'retail' investor to match these BOT capabilities. $MM of capital is churned on 1c moves up or down. Here is something interesting I have observed in RAD over last few months. In the first 2 quarters, RAD stock would languish in the red for most of the day with an exponential spike taking it green in the last five minutes of trading. More recently however, it spikes heavily green in early part of the day and gives up most of the gains gradually during the day. BUY and HOLD or staying long seems to be the only viable strategy to beat these investors.
Sure, people will start commenting how they have made gazillions day trading but they're most likely an aberration and the law of averages will soon catch up. As someone posted, a Nasdaq paper shows how most investors have lost rather than made money day trading. So have conviction, Buy & Hold RAD. Otherwise, it's just a fool's errand.