Some general tips that will help you get started in this exciting market
First you need to learn technical analysis. There is a plethora of resources available online which you can consult.
http://www.investopedia.com/terms/t/technicalanalysis.asp
http://www.investopedia.com/university/technical/
Focus on understanding the graphs and trying them out yourself. You should know how support-graphs and triangles work.
Be aware that it all boils down to probabilities and anticipation. It's not a crystal ball.
You also need to stay up to date with the news and rumors. The general rule is to buy the rumors and sell the news. The trick is being able to distinguish the two of them.
Some general guidelines;
- Always have a stop-limit order set when you hold something.
This stop-limit order should be at 90-95% perfect of your entrance point. This will prevent you from suffering heavy losses in the case of a dramatic dip.
http://www.investopedia.com/terms/s/stop-limitorder.asp - Always HODL.
- If you're going to daytrade, never use more than 5-10% of your available funds.
- Never buy at an all time high. Wait for the dip, because there will be a dip.
- If you're going long, buy and forget.
- If you aren't holding any bitcoins long term, you're doing it wrong
- Never leave your currency on an exchange. Either get a hardware wallet or use a desktop wallet like Exodus.