Apollogies for boiling the whole trading affair down to money, but would i be right in saying that it is easier to swing but riskier to day trade, thus needing more money as a swing trader to trade for a living, money management wise?
I think it all boils down to perceptions and very much to your style of trading. My perception of anything longer than a daytrade is having a larger account and taking a smaller position. Trading in line with each trend depending if it be the short, intermediate or long. Trading over days weeks seems to require the ability to set a wide stop in order to give you some room.
The main problem with daytrading is the need for some like me to sit in front of a computer, others will make a simple assessment place appropriate orders and stop with targets and walk away.
How one trades depends on the profit. If you are a selective daytrader then the signal you follow has an amount of success or low risk to it. How often could you have followed a specific signal during the day and taken 5 points from it. For daytrading it seems to me the best way to approach it is to find a specific signal that works more often than not. By work I mean returns a level of profit you are happy with and produces much fewer losses than gains. Thinking of those 5 points, if you had a signal that fell into such category and traded at £200 a deal then £1k would be a good return.
It brings me back to perceptions and trading style and objectives.
What do you want to make in a day, some say £100 others talk of £10k and so on as long as you make enough to live on without giving yourself an ulcer in the process that must be the objective.