I came across this article which I must definitely share with you guys as I'm very  interested to       know your thoughts on this. Do       note that sharing this does not mean I agree or disagree with it.    For    your convenience, I  have copied  the      excerpts from the    article    here:
Given how tricky it can be to just get your child to sit still for a moment, you'd be forgiven for not analysing the position they're choosing to sit in too much. But there's one position which little kids love to use - maybe you loved to use it, too - and its prevalence is causing a lot of concern. 
The common 'W' position is when kids (and sometimes adults) sit flat on their bottoms with their legs splayed out to each side, knees bent and feet pointing outwards - forming the letter 'W'.

But whilst it may be your child's default mode when watching TV or playing, it may be causing lasting damage to their posture. This in turn can affect their growth and development and lead to orthopedic issues.
What it's bad for:
 - Hips
- Knees
- Ankles
- Postural muscles (found in your back, abdomen and hips)
- Core stability development
Why is it bad?
Whereas crossed legs, side-sitting, or sitting with your legs stretched out in front of you engages core strength, the 'W' position does not challenge the muscles in our back and abdomen - which we need to keep us upright. 
It's particularly risky for very young children to adopt this position, as they are still very much developing and adapting their posture. Dr Challoner provides some useful tips on preventing your child from sitting in this position for prolonged amounts of time.
One way of ensuring they don't get into the habit is by praising their posture when they are in a different position.
What you can do? 
Everything in moderation. If the child is transitioning in and out of different positions and occasionally chooses “W” sitting then this should not be concerning. But if the child is only sitting “W” style, then alternative positions should be utilized. In this instance, I urge you to encourage other positions like kneeling, ½ kneeling, long sitting, side sitting, cross legged (criss-cross applesauce), or a deep squat.
 
What do you think?
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