the most important thing is don't forget to save the assets you bought in your wallet. don't leave it on the exchange. for long term holding, it is better to focus on Bitcoin. and just ignore Altcoins, even if they are top 10 marketcap. because in the next few years, we will never know what will happen to the projects where we put money. what happened to FTX and Luna should teach us many lessons for choosing a project.
I also try not to keep the coins on the exchange for a long time, when I have such a need, I try to keep it no more than a few days. I feel much more relaxed when my coins are stored in my wallet. And lately I'm more inclined to the fact that I like the hold more, bitcoin in a reliable wallet gives me confidence and a restful sleep. Trading has its benefits, but sometimes it takes too much of my time.
I have a big problem leaving my coin on exchanges because of 2hat had been happening these days seeing exchanges cashing and customers losing the money because of mismanagement of these exchanges and hack attempt. Well is is nit easy to hold for a long time especially for those of us that have a lots of things to do with money.
The rich are the ones that can buy coin and leave it for many years because they don't have anything they are doing with the fund. An average man would always want to sell when he makes some profits from the market to available market volatility which can affect the price of the coin.