I use both depending upon the poetic task.
Third. First person is too close for comfort.
I'm a first person guy. I read once that it was somewhat arrogant to put yourself in the story but it's so much easier to put myself in a situation and think how I would react, I know me best and it's really hard to look at myself in a third person.
Depends on the character and the genre that I am writing. If it is fantasy or adventure, I write in third person.
if I am writing a horror or mystery novel, I write in first person most of the time.
Personally, I am most comfortable with third person. Actually, I need third person to show all aspects of a story, action taking place where the prime character may not be present.
Depends on the story I'm trying to tell. First person creates a greater sense of intimacy and is easier in drawing the reader in -- tho much more limiting in terms of storytelling.
My preference is in the third person - especially for a novel, although I used the first person in my nonfiction book, primarily because I was telling my own personal story. I believe that the first person in fiction is too limiting, especially if you want to create tension from a character or event distant from your protagonist (which he or she would not know about).
Third person, I like the omnipresent perspective.
Although I wrote Truth Disguised in third person, I like both voices. It depends on what type of connection you (as the writer) want your readers to have with your story.
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Again, it depends on the voice the work takes on its own. I've done both, but I think its much easier to write third person than first. There's an urgency of action in first, but there's a strong tendency to become too self-involved, if one's not careful. Or to quote my son, upon reading a particularly bad, mental rant, "Is the entire world inside this woman's head? I mean didn't a fly fart in Alaska or something?" And, he was right.
I use both from time to time.
The first person.
Third person gives more scope. In my novel To Venice With Love I've told the story from different viewpoints which enabled me to rummage around inside the heads of various characters and communicate what they were feeling/thinking. I hope it wasn't too confusing for the reader.
I can't do first person convincingly. I think it's hard to do and admire anyone who can.
I write entirely third person, although I try hard to get into the heads of my characters.