Day trading or Long term
Day trading or Long term
I have been trying to wrap my head around which is a better choice, day trading crypto or buying for long term keep.
While they both have their pros and cons, they both come with a form of risk and they are meant to generate profit.
The major difference between them is that day trading tend to make profit from small market volatility, while hodling make profit from the bigger change in crypto value.
Day trading involves more techniques, self discipline and rational decision making.
Which do you prefer and think is better
Day trading and holding long term have some similarities, but differ quite a bit too. Both involve risks and needing self-control and smart choices to hopefully make some profit, just in different ways.
With day trading, you’re watching prices a lot trying to catch small ups and downs to make quick profits. It’s a ton of work staring at charts, takes skill to do well, and can stress people out.
Holding is more hands-off, waiting for bigger price jumps over months or years and so it takes patience rather than effort. The gains come slower but you avoid constantly monitoring markets and charts.
I’d say they appeal to different personality types. Day trading is for go-getter number crunchers glued to their screens. Holding works better for laidback investors playing the long game. But both can be solid ways to generate profit.
Day trading can be refer to short term trading like trading within a day or two days. Long term in the way you used it can mean swing trading. Swing trading is when you hold your coins for some many days to many weeks. But the long term that you are talking about is holding. Do not compare holding to trading, because holding is safer, better and it requires less time and energy from you. But this is when you are buying good coins and not shit coins.