One of the reasons I like Position Trading

These are all day traders using the same defeatist "approach".

 

Agree that there are numerous more opportunities to make money day trading. Most of these opportunities are missed however by the newbie and most "experienced" traders.

 

Whay style of trading do you do more of?

 

<i>"Agree that there are numerous more opportunities to make money day trading. Most of these opportunities are missed however by the newbie and <b>most "experienced" traders."</b></i>

Then by all means, stick with what you are doing

 

Most opportunities are missed by the sole day trader. For most that want to daytrade, it is best to have a longer term position on and just juice the longer term play with intraday trades only in the direction of the longer term trend.

 

Support and resistance are much easier defined and are stronger the longer the time frame.

 

Poition trading is like being a factory owner - you just sit there while others do the work and the cash rolls in. Being a daytrader is like being a sweat shop employee. Every day you start again with nothing and have to make your quota. Not conjecture on my part, direct experience.

 

whats the difference between swing and position trader?
I think thats gettting too specific.

You either close everything end of day - day trader, or you dont.
Funny thing is that for 99% of the public you will get called a "day trader" if you trade on your own/at a prop, no matter how you trade...

 

"Funny thing is that for 99% of the public you will get called a "day trader" if you trade on your own/at a prop, no matter how you trade..."

.but if you ask them to define what a day trader is they can't...............they just know it is bad because they read it so.

There are actually reasons why a daytrader is more likely to fail such as needing to act on conditioned reflexes whereas many people START as daytraders and thus don't have pattern recognition of market nbehaviour, or the comm + spread being a higher % of profit, or less able to let profits run and run to offset accumulated stop costs.

 

You will find the exact same waves on a 1 minute chart that you will find on a daily chart, to say one form of trading is better over another doesn't take different traders skill, personality, tolerance for risk etc into account and frankly is a bit of a wank