I'm disagreeing with the thought that short term trading fails horribly...im not talking about byi I'm talking in general. Technical analysis is technical analysis whether its a week out or 6 months outou have your support and resistance and your indicators that confirm where it's going within that timeframe
I'm not talking minutes but it's very accurate in whete its going within a few days up to 2 weeks
There's a lot more than just technicals though, and it's not confirmed, you're still speculating. Short term movements in the markets also effect stocks. BYI could look bullish right now but if the S&P falls 2% tomorrow BYI will get hit and those options will be down big. Then risk management comes into play, do you take the loss and move on or do you keep holding and hope that it rallies back.. only to potentially lose the rest of it.
That's why like I said it doesn't matter what it does unless you're really trading it. Just like with paper trading, there are a lot of people who start out paper trading and do well in their fake account to only lose money when they start trading real money.
But regardless, majority of traders lose money and last less than a year in the market, mostly due to short term trading. Long term traders make money because short term price fluctuations don't matter to them.