with the right money management you can ride on any time frame. To know yourself doesn't mean you cant train your self new profitable methods or improve your psychology and master control of emotions, to work as positional trader and hold positions for weeks and months trains you to be patient on the market - like any NLP or psychology, then on the intraday you become more patient and wise
Whatever method and time frame you use - you would the high probability entry trigger and losses have to be kept small. If you are a position trader and have to weather long big drawdowns - this will wear you down psychologically and financially.
Tq duck , for a good post..agreed. my own experience : a new trader should: 1) can afford to lose, by playing % small bets. Bigger bets led to bigger loss. 2) therefore can gain experience- developing gut feels 3) can afford small lose, in order to get bigger profit (cut loss, let winner runs) - use of stop order is important here. 4) choose a right market, ie suitable for newbie - has liquidity ,thus the volatility is acceptable. 5) has motivation to win. -L
Yes, but not currently that active. This action is not that great for my time frame style. Putting some money in real estate instead.... feel getting in now will set me up for a nice performance down the road. Also been nipping at some gold. I plan on trading more actively when I see mkt become more favorable to my style.