but again traders have their respective strategies depending on what they want to achieve
Yes, another trader may have a different strategy, just use the most appropriate one and fits with your trading style.
Sure, each trader has their own goal and it probably requires a certain strategy. What strategy that best for the goal, only the trader knows it.
we need to monitor market movements because otherwise we can lose the moment
For a daily trader like me, it is very important to monitor the market. Momentum is the key, once lose the moment to take profits, it can be a problem and probably hold the coins for a longer time. It is not a big problem if the market is still going to increase. But if the market continues to drop, it becomes a problem for me.