Trading is simple, when the price is low it is time to buy it
and sell when the price is high.
For newbie these words seems to very simple because newbie thinks that bitcoin trading is very easy. Off course bitcoin trading is easy but you need patience when it come bitcoin trading. Some time the price will be very high you cannot able to buy them, so you need to be very active when comes to trading.
It's sounds like this trading activity just watch the chart for a long day, i would say it's not efficient. Better to learn how analyze fundamental and technical in trading, if you are already proficient you don't need to watch price movement for a long day, just makes a limit order to buy/sell.
Yes of course the patience is necessary to manage the risk, there's no free risk in any aspects, manage it will decreased the risk or even can be a profit.
You are correct, we all know that there is two kinds of trading here such as Day trading and long term trading basis. And between the two day trade is more profitable than a long term, though they are both giving profit. only there differences was on a day trade it needs effort to monitor the movement of the coins in the market while the other one it doesn't necessary, but to wait it for the right time of years.