I am a new trader and was wondering what the upside/dowside to day trading over mid to long term trading is in your opinion?
I was of the opinion that if you could capitalise on a few percentage points increase in stock prices per day then you would essentially compound your capital and probably finish with a greater result than someone who picked a good stock at a fair price and waited for slow appreciation over time?
Someone on another thread had said to me "be careful of day trading, most aren't very successful and you need to watch out for the tax man".
Would the taxes not be the same for gains in capital on a single investment as they would be for increase in capital on a series of smaller investments with end result? ie one trade that has a 10% increase on initial capital outlay or 1% on ten trades with the same outlay (compounding capital growth aside)?
Any tips or answers would be greatly appreciated and will not be taken as financial advice but opinion only.
