Alsi - Day trading vs. take position and hold

[#1]

Hi all, what are your thoughts? Intraday trading, close positions by end of current day. Or see an entry and hold for the duration of graph movement, which could be a few days. I am of the opinion that day trading is best, although trade costs will creep up (so have a limit on contracts traded per day). Yes, potential gains could be cut by closing at end of day, but then so can losses (if your trade was in the red at close). Thanks

[Rams]

the market does not function in time frames, yes it opens and closes, but the time frames we use to suit a particular style of trading. i think trading costs and profitability is no different between intraday and longer time frames over a period of time. i trade intraday because its derivative trading and i prefer a good nights sleep and prefer to enjoy my morning coffee

[Preston]

err, i do swing trading in equity and also sleep quiet well.

[#4]

Thank you for the responses. I am inclined to agree with you Rams. Simon really got me thinking about trade costs when he responded to the fx trader who was 'not crying into his beer' (subject was about high fx trade costs). So I guess the answer to the question is to trade whatever suits your own style/preferences, both approaches can work.

[#5]

Intraday trading for me was stressful due to the dayjob. Also I didnt quit when I hit my day limits and always gambled at the end to make You need a methodology for your timeframe, discipline and no distrations!

[#6]

Thank you Johnno, definitely agree with you on the no distractions statement, a big problem for me, missed the long entry yesterday because of interruptions. There are pros and cons for both sides of the argument.

[#7]

Must admit I don't trust this 'long' indication (started yesterday afternoon), wasn't allowed the luxury of making a decision though, because of the distractions and interruptions you mention.

[SimonPB]

one cannot day trade if you have a job .. becoz day trading is a job ..

[Rams]

Stockwatcher , if you don't trust your system, don't trade it. If you have a full time job, then intraday not for the day you working. Remember, with intraday, everyday is not dependant on the previous day, so always a new set of opportunities....trade intraday rather on your days off..as for distractions, get a Laptop or tablet , go to your office or library( most now have free WI- Fi).....before even trusting your system, get the space and connection and computer sorted....set it up like a business.

[#10]

Thanks for the comments. Its not that I don't trust my system, don't trust the small uptrend our market has made. Dow futures trading just below 10 day MA, MACD has crossed down (an important indicator in my strategy.) You are absolutely right, I should trade intraday, at times when there will be NO interruptions, which is why I posed the question to the forum (trying to work around my other commitments also part trade costs).

[SimonPB]

if you got a strategy, just stick to it .. if it gives buy, then buy .. if not, then not ..

[ReneK]

seems you're job is interfering with you're personel life :)

[ReneK]

seems you're job is interfering with you're personal life :)

[#14]

Yes Simon, that is the long and the short of the story.... 'scuse the pun. Got to get minimize interference on trading time, bottom line.