This to too vague to be of any value. Mumbo-jumbo, IMO. The term "prudent use" implies some sort of edge or strategy. That is inherent to make it prudent.
If you are familiar with B1S2, all roads lead to not scaling out of positions.In his opinion, that is the only prudent course of action,as well as an "edge".
Just look at crude oil for the last period of time. It's not really going anywhere if you're a long-term trader, but the daily swings are phenomenal for a skilled day trader. Again: Do you have what it takes to exploit those swings?
lol I think you just need to grab a dictionary for some weekend reading. But you mean well, so that's that.
Depends what you mean by long term. Taking a one year view there was an incredible downtrend, which anyone with a holding period measured in several weeks plus would have been able to capture.
But the question is: How many people DID take that ride? I see it too, now. If I watch the charts from Apple the last 10 years..... If I watch the charts from Berkshire since 1960.... If I watch the charts from oil going down.... If.......................... If.................. Intraday and long term have the same difficulty: you should be able to take the moves.
Most know I trade bizarre long term commodities selling new contract highs/buying new contract lows based on nine year charts, months/years goes by of nothing but rollovers few add-ons, markets make all different patterns in between, some taken advantage using options but I stay with long term views that long term is sitting on hands and much less work. My risk to reward is huge on winning trades since I have a very low amount of them, but way I look at it, for doing almost nothing much of the time, I am doing well. Day trading, and only if you fall in 2% that make money, 3% breakeven, 95% lose, it is insanely a dream for most that this is going to be profitable for them, emotions, fees, equipment, 10,000 hours min of screen time you don't get paid, years of pain at not succeeding at overcoming the very worst of inner devils SCREAMING to do something, very hard indeed. If you are retail and stay retail, I don't see it overcoming the fees enough to bet long term, fees for profitable day trader will be min 15% of their profits for most, often times breakeven traders lose cause of fees, not till they figure out let others pay for you playing will they edge into profitable. There just too much to take into account then just bottom line
I realised that. I just find it interesting when people describe "Long term" as more than a days holding period.