Some common sense tips I have, as a strict spot-only trader:
1. Watch a coin has mature standing and is in the market for considerable amount of time (preferably atleast one season)
2. Watch for market movement and difference in value. If it fluctuates between two stable value points by difference of more than 2%, it's time to lock in for lows.
3. Now buying means dividing your amount you're willing to invest and setting buying goals. At a low point, set first buy point and divide your investment amount into slabs (for me it's 50% first, then 25% and 25% for buying goals if the value dips further).
For example,
If have 100USDT ready,
#AXS at low 1.09 will have my first buy of 50USDT at market value, I will set 25 to be at 1.075, then another 1.075.
4. Set selling goals concurrently with buying. Since first buy is at market, you can readily set sell goal to be anywhere near the high fluctuation point. AXS here has around 1.4 highs so I will set my first sell goal.
5. Sit back, watch market. If it dips, your buying goals will average your buying cost lower and hence you'll update sell goal again accordingly by setting around 2-3% or as per sensitivity of the coin.
6. Repeat
Things to keep in our brain at all times
1. Patience
2. No FOMO or Panic buying
3. If it climbs beyond your high point, do not panic buy and expect it to go higher. Wait for dips
4. If you skipped a dip window, wait for it.
Everyone trading has their own POV, this is mine. I may not qualify on your rules but my strategy is working for me.
$AXS Disclaimer: AI was not used for composition of this article. I like to articulate my thoughts from my own hands without dictation. If there are grammatical mistakes, it's because English isn't my primary language