Jumped into a new listing within the first hour. That was a mistake.

Saw a new pair go live on bydfi, got excited, market bought immediately. Fill was about 12% above where the price settled two hours later. The spread at launch was insane and I didn't even think to check the order book depth before clicking.

By end of day the price was 25% below my entry. Classic.

now I have a simple rule. New listing comes out, I set an alert, and I don't touch it for at least 48 hours. Let the price discovery happen, let the spread tighten, let actual liquidity build up. The "early" advantage on a new listing is almost always an illusion unless you're a market maker.

Anyone else have a new listing horror story or is it just me who had to learn this with real money?