anyway, as for myself, although i do daytrade sometimes, i like to hold for multiple days. i saw a post by darkhorse where he explained why he likes to swing/position trade. i remember he made some good points, which i agreed with.
usually the only time i daytrade is if i get stopped out of a new position i entered the same day. i tend to look at a daily chart to find a setup, then i will look at an intraday chart for stop placement. however, i have to say, in the past week i have learned some things which i did not apply to my trading previously..
when i daytrade on purpose, it's usually those days when i wake up and all the futures are down BIG before the market opens. i will watch for the selling to stall out and i'll buy longs with a tight stop. a lot of the time those days will at least retrace to the flat line. but other than days like that, i like to trade stocks on a daily chart.
usually the only time i daytrade is if i get stopped out of a new position i entered the same day. i tend to look at a daily chart to find a setup, then i will look at an intraday chart for stop placement. however, i have to say, in the past week i have learned some things which i did not apply to my trading previously..
when i daytrade on purpose, it's usually those days when i wake up and all the futures are down BIG before the market opens. i will watch for the selling to stall out and i'll buy longs with a tight stop. a lot of the time those days will at least retrace to the flat line. but other than days like that, i like to trade stocks on a daily chart.