What is everyone’s opinion on HODLing and (day)trading?
I think there is a vast majority of people who are HODLing, who once tried to trade but got burned and lost money. They tried to recover those losses but lost even more. I tried this as well. First few trades went well. These trades didn’t give me much profit, but it’s cool if you can turn 15 LTC into 16 LTC. After a few more trades I was like “damn, I’m good at this!” but then the market reacted different than I thought and those 15 LTC quickly turned into 12 LTC. If I had waited a few more hours I would’ve had 18 LTC haha.
Trading scares me. It has given me stress and turned me into a greedy person. I wanted to have more but I lost some. I decided to HODL again. Please note, the amount I lost is very small. I can't imagine what someone else must be feeling when they lost $10k+ worth of coins...
Then there are the ones that trade on a regular basis, whether it be daily or weekly. You can make MORE money by trading, but you have to be experienced I guess. Or just extremely lucky. The average TA by a Reddit user is most of the time complete BS. Anyone can draw lines.
A good example is “buy the rumour, sell the news”, a lot of people do this. But WHEN is the time to sell? You think you will sell at the ATH and see the prices climbs up with another 10% and in the end it will not drop back to the level you sold at. Do you buy back at higher price, or wait until the price drops (if it does) or move to another coin with your profits?
I’d like to know if there’s more people here who have made mistakes with trading and have switched back to the HODL formula. Or if you have been successful in different trades, please do tell.