Short-term Trading Vs. HODL
Steemians,
Do you day-trade cryptocurrencies or HODL coins for the long-term?
I made some amazing gains last year with short-term positions but I made some bad trades too, and lost out on potential gains. On reflection, I would have probably made more money if I had held my coins, rather than reacting based on market fluctuations.
Do you have discipline as well as capital to put aside and not touch, i.e. money that you don't need and can just forget about?
I ended the year by cashing out on my profits and I plan to reinvest it in myself to get some new tech/hardware. I made a conscious decision to cash out because I don't like the anxiety/excitement/time-spent constantly checking the charts. It was exciting in the beginning but after realizing how much time I was spending there, I decided that I want to use this time elsewhere, because time is valuable!
Anybody else in a similar situation or care to share a different viewpoint?
I'm writing this post from the airport lounge in Zurich. Just flew here from Frankfurt and I'm waiting for my next flight to San Francisco!
