Most daytraders just have gambling problems/addiction . If when you sit down at your platform and are in a trade within minutes chances are you fall into this category . You need setups that provide an edge , an empirically proven systematic edge with a positive expectancy , Many times this 'edge ' may take a few hours to trigger . Patience is needed to wait for the' right ' moment and then decisiveness and the ability to unemotionally take a trade is paramount . I'd suggest that > 90% of 'daytraders ' would have no idea of their expectancy and if they actually knew their expectancy it would force then to acknowledge they have negative expectancy ( zero edge ) . Anyone what actually quantifies their expectancy and finds its negative would be a fool to continue trading > daytrading successfully is one of the hardest jobs out there , easier to become a successful lawyer imo . Anyone that think they will become a profitable daytrader without putting the best part of a decade learning is fooling themselves . Daytrading has its benefits sleeping on cash overnight and weekends as time in market is risk , you need to be in a position while its moving and get out when it stops . In an average day i can often only be in market for as little as 2 hours . If you can get to the level that maybe the top 2-3% can get its a lucrative pursuit but it will be the hardest thing you have ever done . Thats what makes it worth doing . Good luck to all that go down this road but lucks got nothing to do with it in reality . The correaltion between ' luck ' and HARD work can never be underestimated Maths and data will set you free but not the usual datafit thats prevalent out there , You need to understand what to measure in price action that presents itself in repeatable patterns . You need to understand bias regimes , volatility , momentum , etc and develop tangible unique ways to define . The usual generic studies in most platforms are not great at doing this . There is no one stop algo to deal with all market stages ., you need a ' set ' of systems for different regimes and some filters to switch between them as markets shift regime . Volatility is what i find the key to much of this . If i have turned anyone of from daytrading you were not right for this pursuit .
Rock on .