Question
We recently transplanted about a 20ft tree from a friends yard.  We watered it really well after putting it in the hole.  Now it doesn't seem to be doing too well.  We have watered it everyday.  Is there a chance we are overwatering it?  Several people have told us to water it really good everyday, but I have seen a few articles saying not to water it too much.

Answer
It sounds like shock from the move. A tree this large needs a good root system. Do not know how it was handled.  Here is the proper way to move a tree.
Deciduous and evergreen trees and shrubs may be planted either in the spring or the fall. Deciduous plants may be moved in the spring as soon as the frost is out of the ground, up until the time when new foliage is partly unfurled. In the fall, they may be planted once the leaves start to turn color up until the ground freezes.

When you want to dig up a tree or shrub for transplanting, retain as much of the root system as possible. Older deciduous trees and all ages of evergreens, can be successfully moved only if a ball of soil is left around the roots. The exposed roots should be protected with moist burlap or newspaper or with polyethylene sheeting. Every effort should be made to reduce root exposure to wind and sun, keeping the ball as moist as possible. It's best to prepare the hole before digging up the tree you wish to move.

Size of the root ball and size of the hole:

For deciduous trees and shrubs the soil ball should be:

Width = 9-12 in. in diameter/every 1 in. of tree diameter
Depth = 6 in./every 1 in. of tree diameter

For example: A tree trunk 2 inches wide would need a soil ball of 18-24 inches wide and 12 inches deep.

The new hole should be twice the size of the rootball.

It should be watered every third day with 1 inch of water --place a pan under the tree and turn the sprinkler on and when the pan has 1 inch of water in it stop. Start with every third day for a month then move to every four day for a month then once a week. Do this unless it rains.