Just wanted to say that I am currently a position trader (holding period days to weeks), but I want to day trade as well. The intraday moves in some of the instruments can be enormous and I can no longer ignore the profit potential which is inherent in these.
I've been reading this thread. Crgarcia's commission argument no longer holds (hasn't held for years tbh). For example, I could trade the DAX futures for 4 euros per RT at IB, however each full point equals 25 euros. If I trade like a maniac, then sure, I would be paying a lot of commission. But what if I only traded a few contracts a day? The commission bite would be minimal. Might not even equal a point!
As for the argument that NO-ONE is a profitable day trader, what about Marty Schwatz? He has an audited track record. Raised money for his money management firm on that basis. In one stroke, I have disproved crgacia's assertion. Remember, I only needed one instance of a profitable day trader to do this.
Anyway, we'll see how things go. I'm still doing research, but it does look very promising.