I’ll cut to the chase on this one – pro crypto traders don’t buy new tokens upon listing.
This is a common mistake noobs make in trading. FOMO (fear of missing out) is real after all.
New tokens have no price history. It’s careless to neglect the importance of technical analysis in determining possible entries for your trade.
In a bull season, virtually everything pumps. It’s not as easy to ascertain what has good fundamentals. The goal is profit anyway so traders are always going to buy almost anything.
When a token is listed newly on an exchange, the best thing to do is to wait a few days to weeks (in a bear season this can span into months). At that point, you can look at the chart and find valuable data to help you make buying decisions.
New tokens list with hype that usually fades away after a little while. These projects are new and still working to bring their idea to fruition. If it’s quality and has all factors in place, the price usually reacts positively over time.
There are plenty opportunities in the crypto market. Learn to stay patient and disciplined, you’ll catch them at better prices.
Should you buy newly listed tokens?
Nice one