These are the major technical, philosophical and psychological issues the day-trader faces. They don't differ significantly from the issues that face the position trader. The only major difference is the time frame. Because our world is growing rapidly smaller, and because market moves tend to be larger now within the smaller time frames than ever before, day-trading is not only viable and manageable but also preferable in many cases for the reasons cited previously. Of course, the viability of day-trading methods does not negate the risk of trading.
Risk always lurks under the surface.
No trading method is complete without an accompanying method for managing risk and dealing with the reality of losses, commissions and the cost of quotes, equipment and time. Jake Bernstein is publisher of the MBH Weekly Commodity Letter and author of 27 books on trading.