The short answer is no, it’s not a good strategy. I can’t remember the exact % but I remember a study that suggested it was a good way of losing money.
Essentially this is what traders do, buy and sell over very short periods of time. Traders have 2 massive advantages over retail investors when it comes to this:
- experience - they know when this works and when it doesn’t and are generally better informed than you or I on any specific stock
- scale - they buy and sell in the hundreds of thousands & millions. This gives them buying power to buy a lower price, maybe only a penny on each share. That penny can translate back to thousands of profit and job is done. Retail investors have no buying power, we get the price the market gives us so this strategy usually ends up badly.
With retail investing, you are usually (not always) being in the game for the long term, not short term. Short term the odds are stacked against you, quite heavily