I have yet to understand why day trading is so popular. It has to be the rush people get. I am learning trading now and clearly long term trading is the way to go for previously stated reasons.. I play poker and play limit to manage risk and I bet sports and bet one-two games a week that I have a edge again risk management...read about W Buffett or Peter Lynch, (Wealthy Americans) and they are long term traders. You can "guess" wrong long term 10 times and be right on the 11th and make profits. (I am not suggesting guessing). If you have a reliable system you can look at the computer 1 time per day and manage long term trades. If you focus on risk management in long term trading your profits will soar when you hit a trend.. sorry, a bit of a ramble but being new I tried day trading and it was not fun.
The good news..
don't have to sit at the computer all day
don't have to be overly concerned about daily news
don't have to be overly concerned about entering and exiting strategy
don't have to be overly concerned about stress
don't have to be overly concerned about not following system rules
Long term systems are fairly simple to manage (mostly indicators driven)
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