If your tapping gets ahead, then cut a frame. Usually, I am able to make nearly perfect edits on the fly by having 'mark in' and 'mark out' mapped to the keyboard. This is very important. If you use a mouse to click on the 'mark in'and 'mark out' buttons on the screen, playback stops and you can't really develop a rhythm. Even if you don't usually prefer to use the keyboard to edit, this is the place to do it.
Some people like to look at the waveforms when doing audio edits.
This is okay for some types of music, but for anything with a nice, rich sound, it is hard for an editor to gather much from the audio waveform. This is especially true when trying to make the initial cut point. Once you have made the cut, you can use the waveform in the timeline to see why the edit isn't working. Sometimes there will be a big spike just before the cut point and another just after. This means that a frame or two needs to be trimmed away.