Position trading is trading on a longer time frame than day trading. Instead of minutes or hours you hold for several weeks or months. The line between trading and more basic speculation here is blurred because it is hard to tell a position trader apart from someone who doesn't know the difference between investment and speculation and thus has a very high portfolio turnover.
Most successful traders are position traders. They may hold for many months and take substantial profits at the end, though of course if they are trading to limit risk they will be ready to eliminate any stock or contract from their portfolio that starts to turn down.