The failure rate of new business startups in the U.S. is staggering. Because of a lack of planning, knowledge and a disciplined approach. Because McDonald's teaches you proven methods and techniques and forces you to follow very strict rules and guidelines that have been shown to work. If you do not follow the rules, you will not continue to operate under the franchise name. The same approach is required for daytrading.
Every successful trader has rules to follow without hesitation.
Let the action of the stock determine what you do. Fear and greed will always ruin a disciplined daytrading program and ultimately result in catastrophic losses. Make your own decisions. If you follow the herd you will end up at the bottom of a very steep cliff. Never enter a trade based on anything but sound fundamentals of good daytrading.