After months of patiently tapping and earning TOMA, I finally received the news I had been waiting for: TOMA is listing! But instead of waiting for the official listing date, I'm considering taking a risk and participating in the premarket trading.
This could be a high-risk, high-reward opportunity, as prices can fluctuate rapidly and unpredictably. So, is it a good idea to participate in premarket trading for TOMA on exchange?
Excuse me! Is it thag you don't see any other coins on the market to trade or you just love to buy Toma and you are bullish about them? Hmm! Think twice and do research about the project you are about to trade because I don't think that project has anything to offer. If the project is good enough and you farm good numbers from airdrop, kindly wait and see what they do on listed date then use the rest of the money you have with you to do other trades.
The reason why you should not engage in premarket trade is that the market is usually not liquid and you can't market trade, each trade has to be manually settled unless you want to hold the coin which will then be converted to real token on the listing date and because of this, volatility can make you lose a huge amount of money as you wouldn't be able to exit the market immediately if there is any sign of market fall, it's only when the market is going up with demand you will see buyers which in this case, the chances are low.