MoneyTec Traders Community Forum - View Single Post - Day trading or positional/longer term trades?

peteuk · 02-08-2003, 14:13

As a die-hard day trader scalping pips wherever I can and not doing so bad, I was looking at a longer term chart the other day and wondered why I wasn't opening and keeping positions for longer than a few hours. Looking at Swissy on a daily chart for instance, if I'd bought on June 17th at around 1.3150 (when the 3 and 7 ema's crossed and ADX confirmed the long), and then closed when the ema's crossed back on 18th July (roughly a month later) at 1.3611...well that would have been...er....461 pips and only one trade, one spread, and not having to watch charts every day for hours on end.

So, what's the down side? There has to be one hasn't there? Anyone here trade longer term? Bigger stops maybe, bigger margin, riskier? It looks ok to me, but then I'm only a day trader.

Cheers
Pete

02-08-2003, 14:13	#1
peteuk level 3 Join Date: Mar 2003 Posts: 581 Downloads: 0 Uploads: 0 Rep Power: 0	Day trading or positional/longer term trades? As a die-hard day trader scalping pips wherever I can and not doing so bad, I was looking at a longer term chart the other day and wondered why I wasn't opening and keeping positions for longer than a few hours. Looking at Swissy on a daily chart for instance, if I'd bought on June 17th at around 1.3150 (when the 3 and 7 ema's crossed and ADX confirmed the long), and then closed when the ema's crossed back on 18th July (roughly a month later) at 1.3611...well that would have been...er....461 pips and only one trade, one spread, and not having to watch charts every day for hours on end. So, what's the down side? There has to be one hasn't there? Anyone here trade longer term? Bigger stops maybe, bigger margin, riskier? It looks ok to me, but then I'm only a day trader. Cheers Pete