You are absolutely right about daily weigh ins. That is why most experts don't recommend that you do it.
If you do go the daily weigh in route - you must really get a balanced view about it. Daily figures can bounce around an awful lot - and for many reasons: muscle making, water retention, illness, natural body cycles, "that time of the month", bowel movements and what you have eaten (what, when and how much)...just to name a few. Weekly weigh ins give you the "bigger picture" (as do fortnightly or monthly).
The advantage of daily weigh ins is that it helps you learn how your body reacts to various things that life throws at it. You start to see how your body's weight changes and how/when those changes occur. For example, a 90 minute sweat-a-thon on the exercise bike can yield me a kilo loss but that number is a "soft" number because most of that loss is made up of sweat/water. If I do an exercise that I haven't done for a while like a good hour jog or weeding the garden - that exercise doesn't show up straight away. The next day my weight is the same or even a bit more and my muscles are stiff and aching but I know from experience in the next couple of days I will get real good results because of what I've done.
For me the daily weigh in kept me on track, taught me how my body worked, what foods and exercise helped me get to where I wanted to go and kept me accountable daily. I kept a good perspective on my daily numbers. I was always far more ruthless and concerned about my Friday weekly weigh in.