Factors

Factors You Should Consider in Making this Decision

1. Trading System
   While some trading systems are more ideally suited to short-term trading, others are
   better suited to long-term trading.
2. Time Availability
   Only you know how much time you have available. To trade for the short term or
   intraday you will need to make a major time commitment.
   If you have another job and you can’t make this commitment, don’t even try! Be
   realistic and determine what you can do with the time you have available. This may
   automatically make your decision for you.
3. Commissions
   Are you paying sufficiently low commission’s to permit short-term trading with a
   positive bottom line?
4. Personality
   Can you take the pressure of short-term trading? Are you more in tune with long-term
   trading, its less demanding pace and the patience required?
5. Health
   Believe it or not, health is a consideration. If your health is at stake, then by all means
   don’t push your luck. Trade with that period of time in mind, which will best be suited
   to any health concerns. Answering this question honestly will help make many decisions
   for you without considering any of the other aspects.
6. Data
   Many individuals are under the false impression that they can day trade the market
   without a steady source of tick-by-tick data. Don’t fool yourself.
   To day trade you need up-to-date, tick-by-tick, accurate and reliable data. If you can’t
   afford it, if you don’t know how to use it, then don’t kid yourself. Day trading is not for
   you.
   In addition to the above, there are other factors which are specific to your individual situation that must be considered before a final decision is made about the type of trading you wish to do.
   This is an important decision. Do not take it lightly.