I agree with you, longer term builds wealth, whether you trend follow or go against the trend on monthly/weekly charts. I don't swing trade as the risk is same as long term trade for me, but selling options are only Swing trading I do. I went to day trading, huge mistake, after doing long term for several years, cause I was bored and in mid 80s it was possible to get data using satellite dish, WOW I thought and with brand new PC thought how hard could this be, LOL, I was flat to losing years for seven long years taking all profits from stocks to lose in day trading. I eventually learned, but the seven years really took a bite out. I think most, unless you have someone who is going to be there for you each day for like 1-2 years in retail world, very very hard to become profitable day trading or Scalping. I have found Scalping was best for me, and now most of it automated. Just can't do it manually any more than 40 minutes, so much concentration required, stressful, frustrating even when you doing well, I don't know many traders who are happy they lost. Scalping, having 65% winning, I'd be losing for the day, if you did 100 trades retail is $400 fees, if risk is 3 ticks and reward 2 ticks, you made 130 ticks and lost 105 ticks, $312.50 minus fees, in the hole. Getting the extra tick makes huge difference, but to often trying to get filled on the extra tick is rather difficult, but am sure others can do it as I almost always give up tick to get in. Has nothing to do with patience, if you anticipate retracement to be 2.75pts, and it comes down to that exactly, others in front of me. You starting your trading in June, like the worst month of the year to trade.
I guess that's why it's called a market. June is historically one of my most profitable months. In fact it was my last very good month of 2016. Each month since has been below average.
I've never been around so many people with such strong opinions in my life, everyone on ET has these beliefs that are such bullshit and they are so firm on their stance. June sucks, you can't trade off patterns, or indicators, you can only trade off (insert thing). The truth is is all works and it all doesn't work, it all depends on the person driving the car and market conditions.
Hmmm, while I still enjoy day trading and still prefer it on ES over swing trading, other things like CL I've been seeing the advantages of swing trading with how I trade. So, must admit I now better understand some of the benefits of it. I never thought it was bad or inferior but now learning how to better use it. I see my targets get hit and directional bias normally right, without that much draw down.