PPB I am telling you, you cannot beat the market unless you are an integral part of the market. The Dart theory holds up every year for normal investors.
We all know that Markets look for equilibrium and they find that equilibrium at the end of the trading day. The key to equilibrium is not Supply and Demand of Valuation (Future FCFF) but INFORMATION.
These firms have Cray Supers running on DEDICATED Fiber lines to all their offices across the globe, just to eek out a microsecond to take advantage of arbitrage situations from Currency Corrections, Commodities, Stocks, Bonds and other paper.
Furthermore, Technical Analysis has ruled the day trading for more than 20 years. You are analyzing points on a graph vs. Fundamental Analysis that is looking at Future Cash Flow to Firm over a 5 to 7 year period. I have seen inside information that should have bumped the stock 30% but due to the Houses holding 85% of the stock and the Mutual Fund Managers using technicals... it didn't pop until the Quarter Ended and results stated.
Information... they have it and you don't. It is indeed playing in a casino that has rigged the decks. You have to play by their rules of having a financial advisor, diversification and mutual funds. That way you take advantage of the decisions of the market makers after they reap their 40%; the lower information getters (which is still more than us) can reap about an 8% Gain Annually.
I can't stand it myself, because I went 6 years of Education for this crap, and in the end.. because I chose to not go to the Street... I can't play.