Do not spend all your time on training or studying - this way you will probably become very exhausted and unwilling to compete more. Whatever you do - have fun. Once you find programming is no fun anymore – drop it. Play soccer, find a girlfriend, study something not related to programming, just live a life - programming contests are only programming contests, and nothing more. Don't let them become your life - for your life is much more interesting and colorful.
--Petr