It usually is a good idea to go for coins in the top 20 by market cap (CoinMarketCap.com).
All the others can give you some MAJOR headaches.
Even the first 20 can be tricky. Some are very solid, others not so much. Nothing like studying them all DEEPLY. Once you think you know everything about each of them, pick a few (2 or 3) and begin following their daily prices and charts.
Pay special attention to Bitcoin and know all its ins and outs: When Bitcoin sneezes the whole crypto market catches a bad cold… Even if you are not going to trade bitcoin, knowing its movements will help you a lot when trading the other coins. Actually Bitcoin is a great indicator / signal / index in itself in the Crypto world. The better friend you become to Bitcoin, the easier your crypto life will be
Never rush into buying anything. Do not fall for FOMO (Fear of Missing Out). There will always be a next great opportunity. Always protect your capital: It is always better to miss out on some profits than lose all your trading cash.
More often than not, “not investing into a certain coin at a certain point in time” can be a great decision. Take all the time in the world, before even considering buying anything.
After further thorough observation you can then decide which coin is better suited for investing (holding long term) or daily trading (buying and/or selling daily).
Stay away from ICOs and IEOs.
Of course you also should become extremely proficient in Fundamental Analysis and Technical analysis. Follow the major crypto news feeds, join the telegram channels/twitter and other social media and forums of your coins of choice (that is usually a great source of info) and be aware of world politics and economics. Very much in the same spirit of Forex trading. Actually the Babypips.com school of Pipsology course is EXCELLENT for crypto trading, I highly recommend going through it if you haven’t already. In short, most of all the great advice that you get here for Forex, usually also applies to the Crypto market.
Finally I don’t want to discourage you, but you need to be aware that the crypto market is highly volatile. Yes, you can make some money with it but it is also very easy to lose it all in a few bad trades/investments. The more prepared/knowledgeable you become, the better your chances will be.