Also another thing that pays off is NOT to rely on posting orders and hope for it to get fulfilled. Pay the broker's fee and get ahead of the curve and catch the ride up. You can lose a lot of money by catching falling prices because you post a buy order and it got fulfilled as the price crashed. I lost a lot of money this way.

Posting sell orders is a different matter though. You should post a sell order when the price is going up and close to reaching your profit target*. If you made a mistake and the price went south, you should however pay the brokers fee and sell to exit the trade. Remember you have to accept losses (usually no more than %2 of your account). Do not make the mistake of "I'm going to stick around a little longer and see if it'll get back up". If it does, awesome, you can get back on it. If it doesn't, you're fucked. You can only stick around and wait for it to go back up if you see strong support levels.

* Don't get too greedy on your profit target. Aim for a few bucks here and there. I should have mentioned that I currently have $30k in my account. A "good" trade yields $200 bucks. Suppose I buy 300 Litecoins at $100 each. The price goes up to 101. That's $300 difference. Minus the broker's fee of $80. $220!

Once I prove myself to get a little better I'm going to put in another $20K.