Hello, Buy-and-hold people need to tough it out through downturns, watch their net worth decline, and have enough cash on hand to avoid selling at a loss. I'm wondering what the day traders and other short-term traders live like. It seems like if you cash out each day, and you are equally happy trading a down trend as an up trend, then the day trader keeps making money in a down market, while the long-term investor has his/her patience tested. It seems like day trading has daily stresses. But not long-term ones. Any truth to this? If so, it could be argued that skilled day trading is less risky than buy and hold. A skilled day trader makes money in an up market, down market, or sideways market. The buy and hold investor only makes money in an up-market, makes no progress in a sideways market, and gets destroyed in an epic down market.