Mr. Livermore says the big money is in the main move, not the fluctuations. He also says to have the patience to sit tight to capture the big move. However, with the usage of options, large amounts can be made from small fluctuations. But, due to theta, the time constraints will make sitting tight not as easy. A weekly+fluctuation can generate the equivalent of a monthly+medium move. Theoretically, a daytrader could use weeklys to compound to a greater extent, although trading size at some point would cause liquidity issues.