I know that it is easy said than done. When your emotion gets carried away by the hype, you can stop yourself from putting the money into the “hope”, because you don’t want to miss the train. When you see yourself in this situation, you need to tell yourself clam down and do some research about it. Also, do not buy some coin, just because they are really cheap. They may be as cheap as you are forever. Ask yourself some questions: Why does it going up so fast? What is the purpose of the coin? Who are in the team? What if the price drops after buying it? Do you believe in the future of the coin? What is your plan about the coin?( If you just want to buy it and hope that it would be another Bitcoin next day, please do not buy it) If you have those questions answered, you can buy it now.
2.Don't Overtrade
Donot sell and buy too often. You may end up paying quite a few commission fee. Set some number for yourself like : how many the coin you want to have, how much when you are ready to sell some or buy more. Make a clear plan of your coins.
3.Listen to Experienced Guys, Do Some Research and Read Some News
You can just youtube coins you like and find some guys to follow. Someone you think is better than you and you feel like you are in the same boat. I recommend Youtube channels such as Boxmining, Cryto-bit Brothers, YLGV, Node Investor, The Modern Investor, Data Dash.
You can search some website for news to know what is going on with coins like Crytocoins News, Coindesk, Cointelegraphy, Bitcoin talks.
You can use some social platform to ask questions like Reddit, Facebook, Steemit and Twitter.
Remember that only one or two pick will prove that you are right and that one or two will make you Sh*load of money.
Great post... and if trading isn't for you just buy and hold :D
Yes, you read my mind. :)
Nice helpful post, thank you. :)