I do keep tabs on the markets everyday and read the crypto news about what's going on and upcoming events like hardforks etc. or whales pulling out/piling in and watching for the "pump & dump" stuff on random coins, need to be careful.
Agree with
Ginjaninja about catching small waves of various coins but the stars have to align on all the technical stuff like MA, RSI, resistance levels etc. indicators and then I'll take a chance. If I can catch a wave or two and make loose change everyday or couple of days or so, then it soon adds up and can help pay your mortgage every month (I'm still young enough to have one, ha ha).
Obviously, you lose as well but if you are not too rash, then usually can end up ahead each month. If you can catch small waves and make like 10-30 bucks a pop/day and you are only risking, say 300-500 ADA or other altcoin that is a similar price, then seems OK. Guess the trick is to not be greedy and just bail once some small profit has been made... sometimes it goes up further, sometimes comes straight back down. If it heads down again after buying then bail once you reach your tolerance levels for a loss and chalk it up to experience and you don't lose too much.
There seems also to be patterns that can help too, like market behaviour when certain markets open in the West (like the US or UK) and times of the week to buy like Sunday or Monday morning here (or not buying later in the week too much)... nothing guaranteed, but if it's a go on everything and feels reasonable, then I'll take a chance.
I'm monitoring
ADA (Cardano) at the moment to see what happens as there is that Vasil hardfork that they started testing on the 2nd June but will release on the 29th, so could be an opportunity later this month... also that ETH one too soon about them turning into proof-of-stake and that could drag other coins up. Also find
Rose coin good for practice as it swings a lot but is really cheap, so no big drama whatever happens. I do set limit orders, but usually only for really low prices that match the resistance level for the last month or so... just in case, never know when it might take a huge plunge like ADA found resistance recently at 0.45 and is today about 0.6 having tumbled a bit the last few days.
However, on the flip-side to that, research indicates lots of coins are suffering from the FED being more hawkish on interest rates and that means less liquidity in general for people/institutions to splash on stuff like crypto and could be a reason behind the current bearish markets... but then again, could be other stuff as well.
Not for the faint-hearted though and caution is wise, true... as with all things here, only risk what can be walked away from. I'm not so into buying and hold, far too nerve-racking unless you bought them for peanuts a few years ago, like mentioned by others.
