Different traders employ various strategies to achieve a given goal. It's like a business—but some do it for fun…envious?
Fact is, regardless of time frame or strategy, both day and long-term traders make and lose money.
Some long-term traders will have sour grapes if they try to trade short-term. In contrast, day traders wouldn't have the patience in the weekly or monthly charts, inadvertently losing money in the process.
The extent of their profits or losses depends on their employed strategy, risk tolerance, and risk management.
However, it all boils down to patience and personal temperament. Day traders often exploit price movements within a given day. All trades are typically closed by the end of the day.
On the other hand, long-term traders can pick out a single position from thorough analysis and keep them open for weeks, even years.
While it may seem straightforward, traders participate to achieve different goals, most of which are determined by risk preference.
However, over time, it has been identified that day trading is highly speculative and therefore risky.
On the other hand, long-term trading is more conservative. Its lack of dynamism, boring as it may, acts as a strong form of risk management--an arena where long-term traders repeatedly trounce day traders.
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