Which is better? Day trading or swing trading?

Each has advantages and disadvantages. Here's a comparison chart to help you decide which may be a better fit for you:

DAY TRADING DEFINITION:

* In and out during open outcry hours.
* Use intraday charts.

SWING TRADING DEFINITION

* Hold 2-14 days.
* Use daily and weekly charts.

DAY TRADING ADVANTAGES:

* No overnight risk.
* Overnight you have peace of mind.
* Can compound your money faster.

DAY TRADING DISADVANTAGES:

* Requires a good attention span.
* May need a larger account if trading stocks.

* Ask your broker about the pattern day trading rule.

* May be more stressful while you’re trading.

* Need to be “quick on the draw” and make decisions fast.

* Can lose money faster!
* Can rack up commission costs faster.
* Can’t do it during your “day job.”

* Exceptions:

* Spot Forex.
* Trading before work.

* Need better (more expensive) technology.

* Computer
* Internet connection
* Software
* Execution platform

SWING TRADING ADVANTAGES:

* Can do it whenever it fits into your schedule.
* Can take time to analyze the charts and other factors and make decisions in a more relaxed manner.

* May be less stressful during the day.
* Good attention span not required.

* Don’t need the best technology so less expensive overhead cost.
* Can profit big from overnight moves.

SWING TRADING DISADVANTAGES:

* Potentially make less money in the same amount of time (assuming success).

* Trading options can help you compound your money faster.

* Exposure to overnight risk.

* Overnight you may have trouble relaxing when you’re not watching your positions.
* Smart to hedge with options.

* May need a larger account because of the larger risk per trade based on the range of daily bars.

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