From short term trader to a long term trader?

[Alpha Marine]

I never did short-term trading when I got into Bitcoin.
I had tried trading forex before I got into crypto, and I knew how it was and how unprofitable it can be. Before I bought my first Bitcoin, I bought a couple of shit coins and lost my money, so when I finally got into Bitcoin, I didn't even think of trading. My experiences had already taught me that trading is a skill that needs a lot of components before you can be profitable in it. So I didn't even bother to try it with Bitcoin. Plus, I was still new to it. I didn't understand much about Bitcoin, so why would I think of trading it?
It was after I got experienced with Bitcoin that I started taking short-term profit on some trades. I would buy a small amount of Bitcoin, hold it for a few weeks and take profit. I did that for a while and stopped entirely.

[Hamza2424]

Was short term trading profitable for you when you started trading or it was later that you started making money from it after some losses? It was unprofitable and you moved to long term trading which were profitable for you?

Or you later quit trading as you are losing?

Well, bro, I was profitable in short-term trading, but I left it because I was spending too much time on it. You see, when you dedicate so much time and energy to something, you don't see how it is destroying your health. So, when I was day trading, it was affecting my health, and I had to get away from it.

Then I moved to swing trading, and then I found a better job and moved to a better place. So now I only trade when I feel like it, depending on my mood.

But investing is something I prefer to everyone, whether they are good in trading or not, because in investing, we can make some profit in the long term while we don't have to spend time on charts like we have to in trading.

[Asiska02]

My years of experience of trading has really made me realise that short term trading is not the best for traders, it doesn’t matter if you’re a day trader or a swing trader. For swing traders, taking trades from higher timeframe is their niche but also for day traders, even if they take trades from lower timeframes, it has to be in the direction of the higher timeframes which makes everything still fall in together to be the long term perception to be the best.

I started with short term trading, starting my top down analyst from 30 minutes. I was lucky for few days, beginners luck indeed but later switched and began long term trading which has become more consistent and profitable than before. Short term trading will be left eventually by all traders, and long term trading will be what everyone switches to unless the trader is a gambler who will want to keep scalping their way to profitability.

[Arenga pinnata]

You can select two options.

I have always been concluding that most traders later quit short term trading because that was what I read in it in the past when I was learning about trading.

I just think about if we can have a poll about it on this forum.

Was short term trading profitable for you when you started trading or it was later that you started making money from it after some losses? It was unprofitable and you moved to long term trading which were profitable for you?

Or you later quit trading as you are losing?

Honestly, I chose to become a medium-term or swing trader and also a long-term trader, precisely because of the less-than-ideal experiences I’ve had with short-term trading. I might be able to make a profit on one or two attempts, but after that, I usually end up losing all my profits on the next trade I open. And what most influenced my decision is that my mindset just doesn’t seem to be a good fit for short-term trading. My work schedule also doesn’t support short-term trading, so I switched to swing trading.

The hardest part of short-term trading is being patient, not rushing, and knowing when to stop after making a profit. These are the three things I’ve found most difficult to apply in short-term trading.

[Odusko]

My years of experience of trading has really made me realise that short term trading is not the best for traders, it doesn’t matter if you’re a day trader or a swing trader. For swing traders, taking trades from higher timeframe is their niche but also for day traders, even if they take trades from lower timeframes, it has to be in the direction of the higher timeframes which makes everything still fall in together to be the long term perception to be the best.

Short term traders are the real gamblers, and they don't use low leverage you see the having leverage of uo to 25x to 50X leverage on they trades, this guy's don't mind if they get liquidated or not, all they focus is on the short term volatility risks and chances of the crypto market at the time of taking the trade, sometimes such discounts entry come to them suddenly and they need to take that risks for the potential result, e.g when bitcoin suddenly fall from last high price of $80k to 75k BTC, short term trader's will definitely take chances in the market to open bitcoin long positions even with high leverage knowing how well bitcoin price is going to recover in the short term period not exceeding 24-48 hours.

[liuka]

Do You mean spot trading or futures trading?

In my opinion,Spot trading is good for long term positions, such as once a month or every two weeks, depending on our buying position.
Now, Trading in the futures market is certainly not suitable for Long term positions because price movements are so extreme at the moment.
But the two are very different, because Futures trading is more likely to result in a loss if we don't have sufficient Assets to inject funds to adjust our liquidity position.

[Pandorak]

In this context, i’ll define short term as SCALPING and long term as SWING.

Basically, the potential for profit from scalping is indeed very high, imagine being able to generate substantial profits in a short amount of time, perhaps just a few minutes or a few hours. However, there are also many negative consequences. ^[1] The most significant one is, of course, the higher risk of loss, since you’re opening and closing positions repeatedly within a specific timeframe. ^[2] This also wastes a lot of your time, as you have to constantly monitor the charts at all times, especially when the market is highly volatile, your eyes must stay glued to the screen. ^[3] You’ll never find peace of mind, You'll feel very dizzy and your heart will race as you watch the candlesticks fluctuate. Looking at historical trading data, few traders achieve consistent profits due to the high level of difficulty. This may also be what has led many traders to switch to long term trading.

On the other hand, long term ^[SWING] trading seems more comfortable and relaxed, you don’t need to monitor the charts constantly, you can even do it just once a day, whenever you have free time. Although the profit potential isn’t as high as with scalping, you can still achieve consistent profits here, it all depends on how skillfully you manage your money and how accurate your strategy is after backtesting. Right now, i’m more comfortable using this approach.

[Alphakilo]

Do You mean spot trading or futures trading?

In my opinion,Spot trading is good for long term positions, such as once a month or every two weeks, depending on our buying position.
Now, Trading in the futures market is certainly not suitable for Long term positions because price movements are so extreme at the moment.
But the two are very different, because Futures trading is more likely to result in a loss if we don't have sufficient Assets to inject funds to adjust our liquidity position.

I think short term in this context refers to any position held below a year or not up to 5 years, but long term may refer to a decade or close to a decade or more and that a huge difference between the strategies we use to trade be it spot trading or futures trading or just holding Bitcoin for long term.
I tried it all and due to time constraints and attention to real world work, I settled for long term plan even though I still occasionally dabble in short term trading when the need arises.

It is helpful to have both knowledge of how it works and inter changeable decide on which to use, else it's just trading activities or more of gambling if no hardcore strategy is involved with capital and risk management practices.

[Grace333]

Swing trading is quite profitable than scalping, a lot of people trade for a short term because they are only interested in making quick profits but at some points they end up losing and instead of them to take a break from trading they end up going into long trading. There is absolutely nothing wrong in being a a long term trader but it is actually wrong to move from switch to such pattern of trading when you are losing because you would be too eager to get back the money you have lost which isn't really an advisable strategy. If your strategy is swing trading or any other one then you should be decided on that instead of going back and forth.