Floating And Fixed Exchange Rates Focusing on One Stock in a Portfolio

Focus on the Short-Term if You're a Day-Trader

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Most successful day traders are highly focused on what's happening in the short-term, not what may happen over the next month. If you're trading with 40 to 60-point stops focus on what's happening today as the market will probably move too quickly to consider the long-term future. However, the long-term trends are not unimportant; they will not always help you though if you're trading intraday.
Source: http://ezinearticles.com/?Forex-Trading-Tips&id=113582