Newbie just starting with this game, we wanted to purchase litecoins just before christmas, when it was at $70, it was a Friday and we had no knowledge and no ID to get verified, by the Monday the price had risen to $240. Missed the boat, finally managed to get on board last week, as is my initial investment is now 40% down. However I can now afford to invest in coins that only last week was out of reach.
I will invest 200% more this week as the old saying goes " When their is blood on the streets, invest in property" yes coins are not property but the sentiment is still the same.
Warren Buffet said ""The best thing that happens to us is when a great company gets into temporary trouble . . . We want to buy them when they're on the operating table."
Be selectively contrarian.
This is closely related to the prior point. Sometimes it's best not to merely ignore the crowd, but to see which way they're going and explore whether it's worth going the other way. Buffett often buys when the lemmings are selling, and vice versa. It's hard to buy what's popular and do well; speculation is most dangerous when it looks easiest, and as Buffett says, the market pays a high price for a cheery consensus. He recommends being fearful when others are greedy, and greedy when others are fearful.
http://www.businessdictionary.com/article/896/investing-lessons-of-warren-buffett/