What is the difference between altcoins and coins and tokens?
Different types of assets but coming under the same asset class. Not sure what you refer to by saying "coin" - without further clarification I would take that as fiat, in that case it becomes a separate asset class while crypto is another one.
And how does the difference affect me from a prospective traders perspective?
A change in asset types under the same asset class does not change the mode of trade if that is what you are asking. It is matter of naming only. However you should be careful what you are dealing with. Like Ether tokens and TRON tokens are not mutually storeable. Wallet types will differ. Again dont send Omni tokens like Tether to an Ether wallet because you will get into a lot of trouble for such petty mistakes.
Know what you are trading on completely before you trade. That is all you need to know.