I once demonstrated a trade procedure for a friend who was new in trading bitcoins. All i did to make the trade successful was to introduce him with localbitcoins traders in our region. And he said that was cool after successfully trading.
Trading concept is too simple. Buy cryptocoin through buy order. Wait for some newbie traders to do rush trading because they would afraid that rate won't go up.
Then once you bought some, sell it quick with a higher price than price you bought it.
the basic of trading is like that, and we can follow this method but if we want to take more profit, then we should make a good analysis about the trend of the coins from the market. how is the position of buy order and sell order is really matter to us to watch and analyze that to get the profit we want.
I have been following this rule of warren buffet, he says Be greedy when others are fearful and fearful when others are greedy. It actually works while trading and I have made some profits with this method. When the trollbox shout and force us to buy a particular coin then I usually sell that coin and vice versa. I strongly do my own research before investing or trading with any coin since I had some experiences before this decision.
although that rule alone is not useful but i agree that it is always a good thing to have in the back of your head.
it is like what i always say whenever you see a topic on bitcointalk telling you to buy a coin it means that either price has already risen and they want to cash out or the price is falling and they want to slow it down.
and this is easily confirmable by checking out that particular topic in a week or two and check the dates with the prices, you can see why they did say that.