Day trading and investing for the long term are both viable forms of securities trading, and many traders opt to do both. Day trading involves making trades that last for seconds or minutes, taking advantage of short-term fluctuations in an asset's price. With day trading, all positions are opened and closed within the same day.
Long-term investing, on the other hand, consists of making trades that stay open for months, and often years. These are buy-and-hold trades, rather than quick, buy-and-sell-trades. The decision-making process for a day trade can be quite different from a long-term investment with different skills and, in some cases, personality traits required for each. There is also a middle ground between investing and day trading called swing trading, which is when trades last for a few days to a few months.
Day trading and long-term investing differ in terms of capital requirements, time commitments, skills and personality requirements, and potential returns. Both day trading and holding some long-term investments are important parts of a diversified investment strategy, although buying and holding investments offer a more passive form of income and wealth generation than the constant vigilance and work of day trading, I chose day trading because 80% of my time from Monday to Friday are spent full time trading.
BENIFITS YOU GET FROM BEING A DAY TRADER;
Day traders can make 0.5 percent to 3 percent (on the high end) per day on their capital. That may not sound like much, but it could equate to 10 percent to 60 percent per month.
Higher return percentages may be possible on smaller accounts, but as the account size grows, returns are more likely to shift into the 10 percent per month region or less.
With day trading, gains compound quickly. For example, if you start with $30,000 and make 2 percent a day, the next month you're starting out with $42,000. If you make 2 percent again daily for next month, now you have $54,000 to . Compounding occurs daily since profits are locked in daily. That means you make gains on prior gains (in addition to any additional deposited capital), so your account might balloon rather quickly.
You can do far more than above with very strict money management and lot of time dedication to market analyses daily.
If you are not a full time trader, this will be very very difficult for you, I chose day trading because not only I'm a full time trader, I love closing all my positions daily and bag my profits each day, I hate leaving trades overnight, except I have locked the profits in a trending market and i expect the market to jump further to my direction of anticipation (Gold normally does this) , then I have no reason to leave my trades overnight.