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| Position traders can sit back and take their time to locate and evaluate opportunities that no day trader has time for. Trade frequency will be much lower. As a result, the position trader must seek a higher profit on each trade. While day traders try to grab single direct price thrusts, if you're holding a position overnight, you may decide to hang on through several countertrend pullbacks. If you choose not to, your exit strategy will be identical to a day trader: close your position on a price expansion bar or thrust into new resistance. |
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