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Disclaimer: I tried to stick to the basics. So as the market evolves, this information should help more than harm. This is not financial advice.

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Practice

Opportunity is always around the corner. You need to prepare for it. Before I bought a single coin, I watched the market for 3 months. This is because Coinbase wouldn't verify my account. Cough. ... Instead of buying Maidsafe, Augur, Ardor, I chose Iota, Komodo, Mona. It gave me a feel for the market. This paid off extremely well.

Hodl vs Selling

In an unpredictable market with explosive growth, you could end up picking the next Ford, Google and Kmart. ... They were successful at one point! Just because it takes off long term, it doesn't mean it's the Best Buy forever. Find a sell point. Be wary, emotions, fear, doubt will make you jump to conclusions that just weren't true. Thus the dilemma of hold vs. sell. I almost did that when Mona was $3. Still, I held that line! Afterwards it pushed to a glorious $20! I held again and lost. My original sell estimation was $20-$30. Did I ignore it? Yeah. Did I pay the price? Yep.

Play to Win

Don't have any attachment, any loyalty to a company. Its purpose is to make you money. It doesn't exist to make you feel good. It can do that, but its primary function is making you that dough. If it fails to do so, if it under performs, or if it's just time to sell. Cash out in a growth cycle. An appeal to emotion is a great way to stay poor. Follow that data, follow those results. Adjust when needed.

Pitfalls

The most common mistake is asking others what to buy. It's your money! You are the final authority. Figure out if the advice you got is any good with math, data. Don't expect random people to lead you to success. A lesson I learned repeatedly in online games. "Run the flag ProX1! RUN IT YOU FOOL! No! Don't go that way! JuicyBoots I swear if you are still AFK... OMG!" I'm getting Halo 1 flashbacks.

Fraud

I've seen people argue the coin will grow a lot because it's fraud. Enron had a good run for the people who knew when to pull out. Most times, it doesn't have any run, and even when it does. You have no clue when the feds kick down the door. Maybe the owner decides its cash out time. You're not just helping the market by avoiding such activity. You're helping yourself, unless you're part of that scheme. If that's the case, I'll see you behind bars. Maybe. Results vary per country.

Incompetence

The number 1 reason companies go under. Is the coin run by tree hugging hippies, where no one is in charge? You probably aren't going to make money. If they want to be a charity, that's awesome. However, as an investor you want a financial return. Otherwise, there are plenty of better, legitimate charities. This is business. They need to produce results. I found from my own experience working with Marxists, Flat Organizations, and Bleeding Hearts. The pay was awful, the people in charge incompetent. A company folding was a fact of life.

It's not wrong trying to make the world a better place. To get there you need to have realistic methods for achieving it. This is crypto's most common failure point. Most people will continue to throw money at the feels, not the results. Blissfully unaware the owner(s) were useless. From day one to it's closure.

Mergers

This is a great opportunity to make substantial gains, or lose it all. Make sure you keep track of your investments. Bitcoin Dark is a good example. Did you know it's merging with Komodo? It's delisting from the market Jan 15th (Update: It didn't delist yet, but its value fell into the toilet). To the people who are just holding, they are going to hold onto a dead coin. You need to move when necessary. Keep track of what your coin is doing.

Products Services

If the company isn't offering anything, it will probably fail. Yes, that includes bitcoin. You need a product, and or service people will use. You need it to last. I remember people buying the I-pods, and I asked, "Why are they buying these?" After I got my answer, it made sense. I didn't have to like Apple, to reach that conclusion. I saw the results in front of me. At the time, I didn't buy Apple stock. It was $1 in 2003, $175 in 2017. I could have put in $100x175, calculate fees, taxes. I missed out on making $10k. Oops!

Stable vs Risk

In an explosive market, you want to make conservative choices. You can't predict which company will become big like Amazon, Netflix. In a stable market, you want high-risk companies, Tesla, D Wave. The Yin and the Yang. Mix in diversity. Don't go all in on one coin. Spread it across 5-10 coins. Improve your odds. Out of my 10 investments, I have 2-3 high risk for faster cash outs. 3-8 long term for 5-10 years. More precisely, I cash out my long term picks in a boom and bust market cycle.

Buy on Dips

Best time to buy is when the market is down. However you don't know how far down it'll go until it's over. Resist the temptation to buy on the bottom until you start seeing some recovery. You may miss the maximum gain. However, you are less likely to see your purchase continue to fall down further. This requires you to get practice-reading charts. Additionally check on the company. See if there's anything bad occurring. If it's doing an Enron (spiral of death), avoid, bail! I knew from retail experience the tech market takes dips in January and July. I waited, bought, and made profit. Those little moments of insight, that can pay off. You can get them anywhere in your life. You just need to pay attention, take notes, and follow the data.

Change

No matter what, the market will not stand still. It will not repeat the same patterns. No algorithm predicted Tesla, Netflix, and Bitcoin. Computers can process data faster than humans can. But AI does an awful job thinking outside the box. No amount of pessimism will prevent the inevitable outcome. There is no winning formula. Use this to your advantage. The way people think today doesn't mesh with you. Wait long enough and it will change.

Rules

Form your own rule set for investing. Discover what works and keep it. Remind yourself that as the market changes, you'll need to change your rules. You may ahead now. You may know everything necessary to succeed. In a decade, you may become lost in the next shift. Never say never, don't decide in absolutes. Every rule has an exception.

Use Math

In multiple instances, I came across people who argue from emotion, and not from math. When someone is telling you for example, that Ripple is a bad investment over Komodo. You should ask is this mathematically true? Ripple has grown from $0.50 cents to $3.00 in 6 months. That's good. What about Komodo? It went from $0.50 to $15 in the same period. Now ask yourself why. KMD's lower volume, mineable coin ends up being the answer.

Komodo went from $7 to $15 in December/January. You say to yourself, ok but Ripple still grew a lot, $1 to $3! In a single month, it did most of the growth. Uh oh! Giant growth was in a short time span means one thing. Market will dip. Then a decline, it was $6 for KMD vs. Ripple's $1. The conclusion? Ripple is crap. Will this be the case next time? That's not your concern. You aren't looking for an emotional victory. You're here to fucken make money. Adjust when needed, stick to the data.