Of all the types of trading, position trading is the one with the longest holding times. Consequently, the profit potential is greater, but so is the risk. History is full of famous examples of great traders who made their fortune by implementing position trading strategies.
For example, in one of his latest newsletters, Joe Ross spoke of what is surely the longest example of position trading on record, which lasted almost ten years (from 1991 to 2000). The investor in question opened a long-term position in the S&P 500, which he held for a long period of time, by setting a trailing stop that was triggered only when he felt that a good profit had been made, thus finally closing the position with a profit of 16 million dollars.
Another famous position trader was Philip A. Fisher, who, in addition to being a great investor and being followed by a large crowd of admirers, including Warren Buffet, made excellent investments, focusing on good companies with very encouraging data. In 1955, Fisher made a long-term investment in Motorola shares and held that position until his death at the age of 96.