Sure if you want to wait weeks or months on end for the perfect daily bar to form, go right ahead. Others of us use tactics that provide many more successful setups in the meantime with minimal risk (albeit smaller rewards). To each his own.
Ned, I don't agree that systems with few trades days between means that that system is any worse than other strategies that might trade everyday.
Not suggesting they are, only suggesting there are many strats with different trading frequencies. Clearly longer term trades should have greater rewards but Satchel seemed to be dismissing shorter term trading as if it's not worth it.
I've enjoyed Short term trading for the past 20 years. I also do long term trades but their too stressful for me...consistently worry about overnight price movement due to something occurring in Asia or Europe. In contrast, Short term trading ends at the end of the trading day. It doesn't come to bed with me like the Long term trades.
Yet you promote your friend Alla Peters who see "unique price patterns in price waves" and charges a newbie $6700+ to learn how to do that? You are an affiliate, what is your cut if they sign up for her mentoring through your site?
Wrong... in those types of accounts you are entitled to the fees you have agreed upon with your client (through a POA for example). Most likely performance based, you only get paid for new equity highs.
This attitude doesn't sound like a 2 decade trader, wrb. I have done 1 decade, and the times spent worrying about overnight trades are taken care of by stops which you haven't explored.