Buy and holder. I rarely sell, and then only under 2 conditions: 1) I need the money for a purchase (car, home, vacation, etc.) 2)I believe the company whose stock I am holding is just not going to recover.
I tried trading for a while, but I seemed to always get burned. I held Bally from $10 pre-reverse split all the way down to $4 post-reverse split. They continued down to $1 after that and I felt good about it...then they bounced all the way up to $20+ and split and went back up to $20+...grrr On the other hand, I held stock in the holding company for "My Favorite Muffins" until they went BK, all the while thinking they could pull through.
So, I'm obviously not a good barometer for investment strategy ;-)