For me, short term capital gains play a big role in this.
I tend to break my purchases into three buckets
- Buying with the intention to not sell for at least a year (allowing me to lock in long term capital gains).
- A trading position with defined sell levels (i.e. a trade based on technicals/news/rumors/etc)
- A trading position in a coin I believe in long term where I take the original principal out and let the profits ride.