Day Trading or Position Trading?

[angelnish]

It would be interesting to see who here day trades and who position trades.
I personally am an avid day trader but I've been noticing that there are some really nice profits to be made in longer term trading.
What are some of the benefits/negatives for trading long term. It would be nice to see both sides of the fence

[UncleBuck]

This quite often will depend on my mood and what type of trading I feel like doing. I could go through stages where I would only want to trade long term, where I could be in trades for a couple of months+, however there are some stages where I will feel like scalping and not doing long term.

There are also the times where I will have position trades running while I also scalp the markets.

Generally, I would say the average trader would be more successful trading long term as you're less likely to be effected by the 'noise' and randomness in the market place.

What's your definition of a position trader?

[angelnish]

Position trading is the longest term trading and can have trades that last for several months to several years!
This kind of trading is reserved for the ultra-patient traders, and requires a good understanding of the fundamentals.
Because position trading is held for so long, fundamental themes will be the predominant focus when analyzing the markets.

This quite often will depend on my mood and what type of trading I feel like doing. I could go through stages where I would only want to trade long term, where I could be in trades for a couple of months+, however there are some stages where I will feel like scalping and not doing long term.

There are also the times where I will have position trades running while I also scalp the markets.

Generally, I would say the average trader would be more successful trading long term as you're less likely to be effected by the 'noise' and randomness in the market place.

What's your definition of a position trader?

[UncleBuck]

Position trading is the longest term trading and can have trades that last for several months to several years!
This kind of trading is reserved for the ultra-patient traders, and requires a good understanding of the fundamentals.
Because position trading is held for so long, fundamental themes will be the predominant focus when analyzing the markets.

That in itself could be a trading edge - 'PATIENCE'. How many people in this world have that much patience? I'd tend to think that not many people would have that kind of patience, and generally, if you can do something which the masses can't, you'll do well.

Patience in trading is key.

[angelnish]

After all, Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

[UncleBuck]

After all, Patience Is A Trader's Virtue
Although the best investors and traders understand the importance of patience, it is one of the most difficult skills to learn as an investor and trader.

It's the impulse and greed that most traders fail with.

[angelnish]

Ya, this is also true.

It's the impulse and greed that most traders fail with.

[AdventureTrader]

Ya, this is also true.

I think that most people who enter the world of Forex start with day trading: I don't think they have the patience to trade long term. I know I was like that, and all of my Forex buddies were as well.