WHEN IS THE BEST TIME TO BUY AN ASSET?

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Well for traders, buying an asset or cryptocurrency means that they get the chance to make profits off that asset. Well at least for most traders this is what the buying of an asset should mean.

There are times when a trader might buy buy asset which he taught would be making a bull run but it turned out that the bull run of the asset was just coming to an end hence the trader made a wrong move. There are other times when we might also be looking at a token waiting for it to fall do that we can buy but that token just ends up sky rocketing upwards.

This was my experience with the Zilliqa token. I made a purchase of about 11 USDT when the price of the ZIL token was at 0.047 dollars. At this time I had already made my fundamental, technical and sentimental analysis on the token. This was because I was looking at making a purchase of the token for the trading contest in the academy. I bought the token using the 5 minutes time frame and setting my take profit and stop loss positions.

I should tell you people that when I was making my analysis the coin was already rallying upwards. After buying the asset or continued rallying upwards and in no time my take profit levels was reached and I exited the market. I must say that even though I made profits on the asset I still made the wrong move by buying it at that particular time. I know there are people who refer to themselves as scalpers in the marker hence they make sure to take profits in the marker in the shortest possible time.

The most advices method of entering the market is when an asset is undervalued. For a trader who uses technical analysis, it means when the RSI value is below the 30 mark. When an asset is undervalued it means the assets price has fallen hence its the best time to accumulate that token cause it will by all means rise again, its just a matter of time.

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Now back to my ZIL adventure.
After leaving the market at a price of about 0.05 something dollars, I had made a plus of about 3 USDT. But after leaving the market it was still rising and then I was caught by the popular term of FOMO. I had followed the rules for the sake of my assignment and ended up regretting. So I went back looking to make some profits and then I did.

I bought the asset at about 0.06 something dollars and was waiting for it to go to 0.1 dollars. When it reached the price of 0.1 dollars I got greedy and thought I could make more profits. I didn't leave the market up until a time where the asset started falling again and then at 0.09 dollars I exited the market because I was beginning to see my profits fade away.

After leaving the market the asset started rising again. It rose to its all time high of 0.2 dollars in less than 24 hours and I was in my room cursing and insulting myself for leaving the market so early. But one thing to keep in mind is that with though I didn't make as much as I would've wished, I still made a little more and I should be looking at the little I made.

So now to our question, is there a right time to buy a token. I believe no. This is because the crypto market is so volatile to the point that an asset that was rising a few seconds ago could start falling and vice versa.