Suppose there is no trading fee.

For a given stock, each day when the stock market open, if its price is higher than its previous close price, then buy this stock. When market close, sell this stock.

Using this method, what will be the outcome? Will it beat the market (the buy and hold method)?

Assumption: if the stock is always going down, this will limit the lose as the first day's down, since the later days, no trade will be done.

if the stock is going up, it should get less than buy and hold all the time.

if there are big news, this method will not get the biggest reward, but it will avoid the lose as well.

So, under what conditions, this method will beat the buy and hold method? Any idea?