@ironchef , edges have to be huge for daytraders just to overcome the big commission wall because each transaction of course costs money. Don't daytrade. It's that simple . Markets are so efficient that very often, short term price fluctuations are simply 100% random and thus unforecastable.
I won't day trade if Schwab charges commissions. I trade ETF and names, zero commission, only exchange fees and bid/ask slippages of < $0.02 per share round trip so overhead is low. Short term PA is almost Markov and GBM but there is a small non random element that we are all trying to catch. Applying Bayesian principle helps. And it is addictive, like playing the slot machine, or sitting at the blackjack table in Vegas, good for passing time.