actually there is a very foolproof method of being successful at day-trading
if you had, oh let's just say for theoretical purposes, if you had a 17 minute window in which to post your entries and exits... wouldn't that be a foolproof system?
let's say you are watching a stock on a real-time chart... you see it make a sudden reversal, but first you make sure it's made a nice reversal to give yourself a "cushion"... you place your "edit-trade" right at that reversal point, even though the stock has now moved away by a good margin from that reversal... it doesn't matter that the stock is no longer at that price, you have 17 minutes to "call" that trade.
now THAT is a foolproof system... you could scalp volatile stocks all day long and make a killing... when day-trading for scalps on very active stocks a 17 minute window is an eternity... you get to see all the mini intra-day tops and bottoms ahead of the crowd... for instance: you see a stock make a sudden hard high volume reversal after falling a couple points and makes a V-bottom at a price of 39.7,, in less than a minute it's already back above 40 banging on 40.25,, but through the magic of "edit-trading" you can now place your entry at 39.71... you now have a nice cushion in case it reverses back down or you can take your quick scalp profit, all in "edit-form" of course.
now there is one drawback to this system... i don't currently know of any brokers that will credit your account for these type of trades... but, for those who don't care about actually making money, you can still impress your cyber-friends with this foolproof system
