Yes, with daily charts, that is the problem. How many losing trades can one afford before he has a winner?
On the other hand, short time frame charts can be exceedingly painful, because the market is able to trigger the stops set. In fact, they set the stops, themselves, in many cases, and remove them as they wish. It is, all, very manipulative.
As I have read, many times, "Where the stops are is the point that one should be entering--not exiting" Very easy to say, but not so easy to achieve correctly.
On the other hand, short time frame charts can be exceedingly painful, because the market is able to trigger the stops set. In fact, they set the stops, themselves, in many cases, and remove them as they wish. It is, all, very manipulative.
As I have read, many times, "Where the stops are is the point that one should be entering--not exiting" Very easy to say, but not so easy to achieve correctly.