Short term trading or Long term holding?

I've been debating what to do.
Short-term buy and sell (like day trading) and take little bits of profit each time
or
just put money down and leave it there long-term hoping it'll 2x or 3x after a year or several years.

For example, my crypto wallet says I'm $90 over what I originally invested. So should I just take that $90 out right now and pocket it
or just leave it in there for 1, 2, or more years hoping it'll grow to $300 or $500 etc.

I sometimes feel like it'd be better just skim off the profit each time since crypto is so volatile which is good for short-term gains.

For example, if I play with $1000 in my account buying and selling different coins each day, the moment I see my wallet is worth $1150
shouldn't I just sell off the $150 I made and cash it out and then continue back at $1000 again playing around trying to make another $50 or $80 a day?

I realize there are selling and buying fees so I'm paying those each time I keep buying and selling but it's not that much...I think about $1 each transaction.

investing in crypto is risky IMO. Short term trading might be a better option if you use a small chunk of money.

Always long term hold.

Imo long term hold would be better, less fees.

You will make more money with short term trading if you have a good strategy but the most important part is your mental and tradingplan.
Have you got the mental to support the drawdown max of your backtesting strategy?
If you say no then hold for longterm.
The fees on binance are 0,10% for each trade so it's cheap.

@oatmeal It depends on how much time you have to dedicate to this and how risk aversive you are.

Most of the experienced crypto investors said they made way more money by simply HODLing instead of day trading.

I've tried to hodl so hard, but every time there's profit to be made, I sell for that instant gratification...

The way I think to myself: my long term investment are the sites I've built instead. My sanity seems to be balanced this way. Though sometimes I wish I just hodl'ed when things keep going up, up, up after I had sold already.



In a way, I'm right now hodling €1000 worth of ADA at €1 price, and the price currently is hovering at around €1.8... Every time I hodl and not sell at the latest peak, day trading makes more sense even if the profits are tiny. They're still profits.

At some point I was way more bold, making profitable trades every single day. Trading crypto is so much more fun compared to building sites that usually take super long time to start making money. Now I've kind of backed down a bit to try and focus more on sites, but I keep my one eye on the crypto prices while trying to work on the sites still.

Short term for me

I'm more of long term holder

Thulf said:

I've tried to hodl so hard, but every time there's profit to be made, I sell for that instant gratification...

The way I think to myself: my long term investment are the sites I've built instead. My sanity seems to be balanced this way. Though sometimes I wish I just hodl'ed when things keep going up, up, up after I had sold already.

View attachment 191818

In a way, I'm right now hodling €1000 worth of ADA at €1 price, and the price currently is hovering at around €1.8... Every time I hodl and not sell at the latest peak, day trading makes more sense even if the profits are tiny. They're still profits.

At some point I was way more bold, making profitable trades every single day. Trading crypto is so much more fun compared to building sites that usually take super long time to start making money. Now I've kind of backed down a bit to try and focus more on sites, but I keep my one eye on the crypto prices while trying to work on the sites still.

Click to expand...

Wow is that your own personal spread sheet you keep a record of? Or is that from one of the crypto platforms? This would be very handy to keep tabs on how one is doing. Yes, I sort of think I want to do this....take short trades and small profits when I can. I currently don't have a job so I do have a lot of time on my hands so I maybe I should day trade crypto.

I currently use two platforms. I was thinking maybe one of the platforms I should leave it alone as my HODL and the other platform use the funds to just day trade.