Long term holding is good, if you are in the right Alt's.
Personally I swing trade, I don't day trade, if something has been pumping, I do my charting, and sell when I think it's at the top, buy when it drops.
If it doesn't drop, don't FOMO in, move on to something else.
No shit. In this current market is basically impossible to tell if you are in the right Alt because everything goes down with bitcoin. Even really good alt coins can't survive. I would wait for the market to calm down or enter a bull trend, otherwise long term for alt coins is no different than just buying ethereum or bitcoin.