Well, the thing about crypto is.. you really have to stick to things that are really good projects. Something like Piecoin or Chaincoin really lacks a solid basis and is mostly just hype and community spirit.. But if you pick a solid project, and there are many coins out there that qualify, you can almost be guaranteed that it will go up. For example right now I have expanded my Stratis holdings, even though it dropped lower than my buy-in price from a while ago. I am not worried at all... I am just sad I did not get ALL of them for the same cheap price, but I know in the long run Stratis will be worth double digits so it really doesn't matter. That's the trick.. if you just stick to markets that are guaranteed winners, the worst that can happen is that you end up holding the bag... but you can always rest assured that at some point the price will go back up again.

It's tempting to get into all these tiny coins since they spike so much pretty much every day... But I witnessed it from closeby, there's really SO much manipulation and shady stuff going on, it's not funny anymore really. About half the time the price that is displayed on the exchange is not really the actual price.. whales are making graphs look just the way they want, to trick people into selling or buying. The main way to win is to pick a winning crypto, and just stick with it until you make 10x. It's a much safer road, and pretty much everybody who made massive gains did it this way. And besides... if you're doing short trades, you'll always miss out on the massive gains because you'll be selling when you see 30% gain.

Some projects I have FUD on as well. TenX gave me serious FUD, so I sold at a measly 10% profit. Looking back, I think I could've done better, probably 20-30%, but the problem was that I lacked true belief in the TenX project. When push came to shove I wasn't sure wether this price was really the real value of the token, since I did my calculations. But still, you can't understimate the power of hype in this market.
On the flipside, you have projects like NEO or Stratis, where I don't feel a thing when it goes down.. I am not worried at all, because I've looked in the project and realize that they are winning formula. So whatever I do in that market is okay, I feel.

Any projects that I am not sure of, I stay away from. It makes much more sense to put more money into a project that I do believe in, instead. And those projects, I just hodl.. It's probably better to sell at tops and rebuy at bottoms, but I know they are going to take off so I am kind of afraid to miss the boat. I did do daily trading with NEO before the boom, but luckily withdrew my sell order just in time when my gut was telling me it was going up! Otherwise I would've sold part at a measly 10-20% gain instead of the 900% I had..

By the way I do think even Chaincoin or Piecoin will be worth a lot more in the future. But by comparison, I think they will not be able to keep up with other, real crypto by a longshot in terms of gains.
Arbitrage? Hmm... I don't do it... You have to remember, every plan you think of somebody else has thought of before. Usually when it seems like there is great arbitrage opportunity, another person has spotted this too and you'll be competing against eachother. Or perhaps you'll find out that there is some roadblock that prohibits you from succeeding (like Bitcoin Cash seemed crazily good for arbitrage during the first days when nobody could move their funds). There are bots that auto-trade between exchanges for arbitrage, and as a human you won't be able to outperform them.

IMO, the true way of crypto for small fish is to buy and hodl coins that are guaranteed winners. It's the only way to beat the whales at their game: you just don't play it!