Depends on whether you have a good edge. Goldman Sachs' high frequency trading is raking in billions for them, they sure aren't losing money from "over-trading". 99% of the traders out there don't have a good edge, making arbitrary buy/sell decisions that are based on reading price action or charts isn't an edge.
If you have a true "edge"...you do not need to be focusing on anything other than your entry point and appropriate exit points; including stops... NiN