Disadvantages of long-term trading are: - Since you make trades relatively rarely – you need to have a lot of patience. That is 50% of long-term trading; - You have to put much more money into your account, since your stops will be much farther than on intraday trading; - Much time has to pass, before you will understand whether you have entered right or wrong; - If you will fail – you will fail miserably, since each trade will eat much time and money (if your stop will be triggered) – farther stops, long swings. Short-term trading usually includes trades that are based on the hourly time frame and higher. That is my preferred time frame. As a context you usually use the daily trend and time frame but also should know weekly and monthly support/resistance levels and overbought/oversold levels, while the trend is not so significant. Usual duration of the trade varies from few hours to a week. Advantages of short-term trading are: - Less demand for patience, more active trading and faster results; - More opportunities for trading; - Less demand for minimum account value, since swings are shorter and stops are tighter; - Absence of reliance on just single trade for extended time period to make money; - Significant amount on time to create a trading plan for a day and plan each trade; - Less depending on fundamental analysis; Disadvantages of short-term trading are: - most of the time you still need to sit in front of PC; - Higher requirements to get good quotes and market data; - Choosing a broker becomes a more important task to do; - Transaction costs becomes higher; - Knowledge of market mechanics are preferable; - Spikes, fake outs, macro data releases becomes a real danger; - Overnight price action becomes an additional risk.