One of the reasons I like Position Trading
- Thread starter Buy1Sell2
- Start date
Day traders also have more of a tendency to count the money they make on initially being right and do not let trades run. They are more prone to taking premature profits as they hit the refresh button and do not want to give any of the initial gain back. Not all day traders, but in my view , the vast majority.
Quote from Buy1Sell2:
My advice for unsuccessful day traders , newbies and marginally successful day traders is to step back and learn to position trade first. You will have more time to think about decisions and research them as well. You should start seeing your account grow instead of languishing or diminishing. It is my firm belief that there is a higher percentage of day traders who lose compared to position traders.
haha.. you got the numbers wrong. Position traders wash out slow and steady over a much longer time frame. Thus, comparing those two aren't right, and just not the intelligent thing to do. But, we both can agree that 99% of all people who try trading fail, washout, lose out, move on etc etcc
ok, we all can make money. i've backtested methods for every way of trading. intraday, swing, position. really good money can be made doing all of them. its all a matter of what you feel you are comfortable with. i've tried them all. intraday is very fast, and position trades are for those who really don't wish to watch and for me the rewards don't come often enough. after all the technical hoopla and i found that a minimum of indicators works very well. i watch only trendlines, candle formations and a stochRSI for entry signals. i choose only the stocks that fly. 100% ytd etc. why trade the slow movers. swing trading for me (on stocks), a few days on a trade, cover and out.
For your position trades, do any of you use indicators, or just price action?
Buy1Sell2,
Thank you for doing this topic. As a futures daytrader who is finally at the point where I feel like I might consistently make a living, I additionally have an account that I've really wanted to position trade.
My challene is that while I come across a plethora of ideas to improve my daytrading, I rarely come across helps for a good position trading method/strategy.
Would you be able and willing to provide some sage counsel in this regard?
Many thanks, amodies
Thank you for doing this topic. As a futures daytrader who is finally at the point where I feel like I might consistently make a living, I additionally have an account that I've really wanted to position trade.
My challene is that while I come across a plethora of ideas to improve my daytrading, I rarely come across helps for a good position trading method/strategy.
Would you be able and willing to provide some sage counsel in this regard?
Many thanks, amodies
when im getting stopped out too often, its usually because my entries were early/sloppy/weak/whatever. if i can be patient and get a NRB, tight multi-time-frame support level or whatever to lean against, i can get away with tight stops... buying in the middle of a channel, however, usually results in alot of slop.
disclaimer - this doesnt qualify as professional advice!
disclaimer - this doesnt qualify as professional advice!
Sometimes you have to know when to be flexable.