yep, I only started becoming proficient when i stopped trying to do a day job and trade at the same time. I put that down to trading longer time frames. weekly is my preferred timescale, so personally i hold for months. but that aside, relate i certainly can
thank you for the comments. I actually can day trade all I want, I work out of my house and nobody looks over my shoulder. I just have to FINALLY admit, that Day trading just has not worked for me. The shift to swing trading will be hard, it will be boring, but I am trading to make money, not be entertained. Not enough traders talk about the struggle.
Exactly, its not fun, not supposed to be. it helps though if you have a workable strategy. hope it goes well for you though and you start seeing returns.
Farm Yard Forex
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You have to do what is right for you end of the day. Some people will be fine day trading and others position trading. There is no right or wrong and one doesn't make you a better trader than the other. That's the beauty of trading. Find what works and rinse and repeat.
The bigger the time frame the better it is. However, it is all about trade management. If you take an entry based on the daily chart, you are to hold it for 3/4 trading days as well. If you cannot keep your patience and wait for the price to hit your Take Profit, then you may end up taking less profit. On the other hand, if you keep holding your losing trade until it hits the Stop Loss, you will not take the whole loss. It means at the end of the month, you will not be able to keep profit.
HeavLeighGill
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I think this is a good idea. Can we have an update of your results compared to past results at the end of the month?
Jungletrader
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I prefer swung trading myself and you have to find what style suits your lifestyle and risk tolerance