As You Said Above that You are Newbie So Firstly I Suggest You to Don't Buy an Altcoin Till You Don't Know About the Demand and Market Volume Of that Altcoin and After that You Need Patience in Trading Because Sometimes Patience Gives Us Big Profits and Some Kind Of Knowledge is Mandatory For Doing Trades But Don't Worry You Will Get that Knowledge When You Start Trading......
You are very right, knowledge in trading is very important before you make a move in making trades. You should have the quality needed to be successful. Trading is not easy and it takes time before you master and make a consistent profit. Awareness, monitoring, and being updated always can help you to achieve your goals in trading.