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One of the biggest question many newbie traders do ask me is when is the right time to buy a particular altcoin pair. Buy low sell high is often the most common tip you do hear in cryptocurrency trading but many still find it difficult to apply real-time. 90% of people do the exact opposite buying into hype.
One thing have learnt in my crypto trading journey so far is never to allow your emotions run you over in trading its is the worst thing that can happen to a trader. To save us time I will be sharing with you this important tip how and when is the right time to buy so let's get started.
Buy at Pre pump price, pretty simple anytime a cryptocurrency goes up over a short period of time that's a red flag, it's a warning that there are too many buyers and the pressure is too much as seen in the case of the newly launched crypto IOTA typically what happen in the chart is you see an upside down V
Like the saying of Warren Buffen buy when people are scared and sell when people are greedy. Whenever you noticed more than three break out then it's likely to begin fading off that's the right time to buy and it's good to buy at specific intervals. Buy some amount and wait for let's say an hour or two if the price is still going down you buy more remember you don't dump all your money in one trade so plan out your trade before pulling the trigger.
After you might have accumulated your desired quantity, what you want to do is to wait for the price to begin to rise up and when you noticed it has increased over a significant value then you can begin to sell in parabolic moves meaning you take out some profit. I think it's good to scale out of a trade so you don't have to regret when the price drops.
So that's it remember never invest what you can't afford to loose.
Hope this helps.
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