considering the fact that trading is highly profitable and responds majorly to knowledge and skills, this means its needs full attention and concentration consistently. i have noticed alot of new and upcoming trader gets carried away easily with little profits or loss. this makes many to quit or feel complascent. becoming a good trader is like going to a school, you do all necessary things consistently without any distraction untill you succeed. this is one of the things that i feel is needed to incorporate into trading learning process and lifestyle.
When it comes to short-term trading, it is necessary to do so, but in my view of trading I prefer to do it in the medium and long term, I have found that peace of mind in trading is the best thing to have.
The need for focus and concentration mainly applies to short-term trading but not so much for long-term. This is one of the reason why some people buy in and leave their coins for years before they come back to it.
This strategy works well for top 5 cryptos with a long-term of 1yr+ because their overall trend is likely to go up, but the picture becomes more complicated when considering other alts that are not the top coins.