A lot people are never going to leave because their desire to get more wouldn’t let them. There are so many people who would get a good amount of profit, but for the fact that the market is still increasing and being hyped, they would decide to keep on holding their coins and not take any profit at all, until the market would eventually come crashing and they end up losing the profit they have made.
Even if you can’t leave the market entirely, you should at least take some profit. That way, if the market should go down in any way at all, you would know that you still have gotten something that would call a profit. Better to have a half bread than have none.
I would say that day traders and long term traders are exactly the opposite and character analysis of both of them are opposites as well. If you are a good day trader and hold something because you want to profit and can't give up then you are making a mistake, if you are long term and it drops and you are worried so you want to sell then you are a bad holder.
There is a good case that we should not be doing something only based on how we are, if you are a day trader and bought some coins and they all went low, then you could literally turn to a long term investor and hold things and suddenly you are not making a mistake. On the other side of the isle you could be a long term investor and you could have some bad investments and they could drop and you could buy/sell multiple times and make a profit there as well. So all in all what you do is not the problem, how you approach things make it a problem.
You are absolutely right, in my case I consider myself to be a medium and long-term trader, the reason is simple, because I am not in the market all day, I just place my positions and do my normal, ordinary life, just I check the movements at night, and if the market goes against me I have time to react and remove orders, or maybe the stop loss will be activated, which is not bad, otherwise what I do is take profits or move the stop loss to guarantee my profit, in this case I always extend the stop loss when I am in profit, when I am in a loss I usually close the trade quickly, I am in favor that losses should be closed quickly and not extended.