Can’t speak for anyone else, but trading has only ever cost me money relative to hodling - in the long term. Even when I win on a trade I inevitably find the currency I settled in to falls behind the one I sold out of at some point. Trading is a tough way to make regular income. It can be done, but to my mind the opportunity cost of not having your capital tied to the full length of any bull-run is too high considering the inconsistent returns from using your capital to bet which way the market is going on any given day or week. Which is tough and has only been ‘easier’ in crypto recently because a rising tide lifts all boats… and still benefits investors more than (90% of) traders imo because investors don’t miss any of the gains on any of their horses, even though they do adsorb all the losses too (no biggie in a bull market).
I made some money trading, but I would have made a lot more if I’d never ‘traded’ and left all my investments as they were. I remember making a wedge selling my last 5k Eth @ $7 having bought them at $0.70c. They seemed overpriced all the way from $10 to $400 after that I felt like a winner for a few days. Now I hold my last 200 Eth and it’s worth more than all those 5k I sold. Same story with half a dozen other coins that I settled profit from in 2015/2016.
I’m prepared to accept the fact that perhaps I’m just a rubbish trader and lucky investor. I do also make the very occasional and small trade even today, so I’m not 100% against all ‘trading’ as such. I’ve just learned my lesson the hard way. If you’re sitting on the cusp of a huge disruption you don’t want to be jumping all over the place because it seems to have been way easier to miss big waves than it is to predict and catch them.
I can appreciate things look different if you need an ‘income’ from crypto. but there’s a good reason Roger Ver has more Bitcoins today than any of the traders he bought them from in 2009. He simply accumulated, waited and ignored the short-term price noise in favour of fundamentals.