Quote from: mjglqw on February 20, 2018, 02:06:47 PM

I tried daytrading back in the day. At first I was making good profit, then with just a few bad trades I broke even, and sort of ended up wasting a whole day on trading. Never again. It's really just not for me, so I end up doing semi-long term trading instead(weekly trades).

If you like staring at charts all day and go crazy, then day trading might be for you.

Your problem then is risk management, not the type of trading you choose Wink

If you opened 10 trades per day and after 100 trades you allowed 2 bad trades to destroy everything, you would ruin everything in 10 days, but the problem is the way you manage your risk.
If you open 10 trades per week but you still have the same money management approach, it will not take 10 days, but sooner or later it will happen again.

For the OP, I wrote this in another thread:

Scalping
Scalpers hold their positions from a few seconds to a few minutes. The main goal of this trading style is to "steal" a small amount from the market in a short time frame. Technical analysts focus on low time-frame charts, such as 1-minute or 5-minute charts. Fundamental traders usually focus on the value of the crypto compared to its price. Scalping is referred to as a double edge sword technique because you can make money in a few seconds but you can also lose money in a few seconds. Since scalpers are aiming for small and quick profits, one of the main obstacles is represented by the fees that you need to pay to your Exchange. Fees, in fact, have a huge impact on a scalper's trade.

Day-trading
If you are a day trader, you can keep your positions for a few minutes or for a few hours, but usually you close all your trades by the end of the day.
Technicians usually focus 15-minute and 1-hour charts to spot any kind of minor trend.

Swing trading
Swing traders hold their trades for days or even weeks. You need to have a deep understanding of minor trends and mid-term trends to be a profitable swing trader. 4-hour and 1-day charts are the most popular among swing traders.

Position trading
This is the style that best describes an investor rather than a trader. A position trader tries to invest in cryptocurrencies that can give good returns in the long period. Technicians usually focus on daily and weekly charts, while fundamental traders analyze qualitative factors to try to understand the intrinsic value of the altcoin. Also, the analysis include the study of quantitative factors such as market cap, circulating supply, max supply and volume of transactions.

It's like asking to a top tennis player which racket is the best. Top players use different rackets, it must fit your style.

I have long term investments and short term investments, my comment here is unbiased