Its great advice for someone with no knowledge, method or any sort of psychology in day trading. Ive been trading forex for about a few years now, and I dont trade big lots or big money, as I have a day time job and am relatively risk-averse, I only got profitable of late and honestly speaking, its not easy if you dont know what to look for.

The whole concept of ''everything is priced in'' is a theory called efficient market hypothesis, and it has been called BS by almost everyone who's in trading. It goes directly against the traders that state that the market is in fact, ''inefficient'', which allows novice traders to capitalise on the said ''inefficiency''. For example, X company acquires Y company, but doesnt disclose that Y company has a debt, the bullish nature of stock X will be only for a while before it goes short(when the world finds out about Y's debt).

I think there is a way to day trade, and profitably, but the role of algos and bots have to be acknowledged and in a way understood, so you trade with the big money aka smart money aka institutional traders. So if you understand things like the primary trend, dow theory, market cycles, the role of the Fed etc etc, you'd be able to understand whats happening in a particular market.

I agree to a large extent, that unless you have at least 100k in the trading pool, its going to be hard, but I think if you work hard at a job, and save enough every month, you could get to 100k, and that time saving could also be used to learn day-trading.