The reason most don't trade this way is obvious. Their stack of money will not match up to this business plan. Like most businesses that are formed "Longer Term Postions" require a significant investment of captial and sound money management skills. I trade both long term and short term depending on the situation.
You can always trade options if u lack BP, and I would recommend them anyways because of interest rates margin repayments... ...of course if u have a couple of millions in your account there shouldn't be any problem
I think one of the most beautiful things about our FREE MARKETS is the diversity and depths they encompass. If you want ACTION you can get it however you desire. There's a flavor out there for everyone, sort of like the world as a whole and there are soooo many different ways to be successful and really make money. The one thing I have found, and to me it's my Holy Grail of investing/trading, and remarkably it has nothing to do with T/A or indicators or systems, but rather lies within us as a person/entity: Man, know thyself. It's that easy to say, but that hard to achieve. Being honest with yourself and "finding" yourself are the keys, in my opinion, to being successful. This means it may take some very long periods of time finding their trading/investing style, while others will have many over a long period of time. Some may be successful at many but only settle on the one they are comfortable with, but the key is to keep at it, keep learning and practicing. Success is out there in many different forms and by many different means, you just have to discover yourself first in order to maximize the success. God I love the markets and those that comprise them, trade on!
To be an effective, well-rounded trader, you need to trade all timeframes- daytrade, swing and position trades. As sometimes a certain style is more profitable than the other.While I don't put a time limit when a position should be closed, swing trading works out to be a few days or weeks; position trading, a few days or weeks or months and sometimes, years! Let the market tell you when a stock is overbought or oversold in its own time! he-he To predict is dangerous.
Hi vinrouge, I swing trade via the daily and weekly charts but only get a few trade signals per year. However, I also day trade. With that said...I don't try to predict via either...day trading nor swing trading. Simply, I don't see my swing trading as having an advantage over my day trading nor do I see day trading as predicting while viewing swing trading as some superior trading style. I also position trade where I will hold a position all day or overnight into the next trading day but never more than two trading days and I don't consider these trades to be swing trades. My swing trades are mainly occurring during specific durations of the year because they are mainly exploiting market seasonals (tendencies) when I have the odds in my favor...same established tendencies for a minimum of 10 years. Mark (a.k.a. NihabaAshi) Japanese Candlestick term