what is position trading? Is that short term swing trade where you hold a stonk for days, weeks and months? You btfd every time it pulls back a little bit? Do you have a stop loss? When do you exit a winning or losing trade?
Unless he paid a ton in commissions there are winners on the other side of his trades... Maybe he had ended up on the wrong end of pump and dump nano and microcap type of trades... ?
It depends on your capital. The more you have the more you have to play long term. You dont see billionaires going in and out daily. But generally it's a few days to a few weeks for most people.
Chances are good, he was trading penny stocks and lined up against Timothy Sykes, Ross Cameron and other day trading gurus out there. In that field, a lot of front loading happens. Legions of day traders being led to slaughter. Like the Gaul warriors being slain by Julius Caesar and the superior Roman legions who knew how to fight.
Im a day trader. But warren buffet reckons he can make 50% a year on an account less than $1million. That would be the upper end. I use Buffet, because i guess he only makes a few 'trades' per year as well.
What do you think is a good return for a day trader on a small account then? I see trading gurus like Ross Cameron, Steven Dux etc making very high returns but you yourself also said such is not sustainable or only a smalk handful can do so.. Personally, I feel swing trading is best. Day trading 99% of people who try it will go broke.