Thanks Barry! Here goes:

My main strategy, as a newbie, is to invest in coins that I have done some research in and have long term confidence in. That way, when a short term drop like I believe we are seeing now happens, I am less likely to panic and sell thinking that the sky is falling. Instead I just sit on my hands and wait it out. Of course I also believe in listening to smarter more seasoned traders whom I trust, and if they say that in their opinion it is a good time to sell and take profit, I give that advice serious weight. But overall, if I'm holding the right kind of coins, I find short term drops can be ridden out with few worries.