Curious, anyone out there watch the market on a daily basis yet only trade the 10 or so times a year that we get these kinds of panic intermediate bottoms/tops? Been trading for about 5 years now, and certain days (like today) just stick out in terms of relative risk/reward. A daytrader account with 4x1 bp could have made 40%+ in a few hours this morning with relatively tight stops. Do this a few times a year and that's quite a hefty return for so limited duration of risk. Obviously its not that easy, but is the issue just one of patience? Or, is it only that because one were constantly trading daily that he or she would be sharp enough to determine oversold/overbought conditions? Has anyone here tried to maintain extremely high selectivity on trading triggers, and if so, care to share ideas? I know that for me, having realtick open in front of my face every market hour doesn't help my patience, but it seems to be the only way I can get that "gut" feeling that the market has hit a certain extreme level. I am quite sure that if I went over my entire trading history, I've probably made 50% or more of my total profits on the 30 or so days like today over the past five years. Any thoughts on subject?