Thread by @CirrusNFT

How I turned 0.6 eth into 150+ eth while sticking primarily to two projects.

No lucky mints, no whitelists, no bots, and no alpha groups. A thread diving into the strategy which worked for me that anyone can use to be profitable in the NFT space…

1. Pick a proven project

When I first started, I was blindly jumping from derivative to derivative, risking losing a majority of my bankroll on a single flip gone wrong. The entire game changed for me when I settled on a solid project with good volume... @LazyLionsNFT

Lions floor is sitting at about 2.5x what it was when I first found the project in August. Im mentioning this to show you that you don't need your project to go on a parabolic run to be profitable (although that doesn't hurt), you just need the project to have consistent volume.

2. Study trait/rarity premiums and know them better than everyone else.

This part takes HOURS and won't come easy, but its by far the most important piece to this puzzle. The listings/sales page on OS combined with sites like rarity.tools are your best friends here.

I've realized that a shocking amount of people dont even know the listings page exists, so here it is. You can view real time sales and listings as they come in. To get here, click the activity tab and toggle listings and sales. This page is your textbook, study it nonstop.

I watched the Mutants listing page for a month straight before being confident enough to make my first purchase on something that I felt was a deal. Once you've learned the market well enough to be able to spot a deal as soon as its listed, you're ready to start sniping/bidding.

3. Make the buy

Simple right? In the beginning my rule of thumb was if I thought there was a > 75% chance that I could sell it for a profit ON THE SAME DAY, then Id buy. This is an extremely conservative rule but works great for quickly compounding gains with a smaller bankroll.

Theres 2 main ways to go about your buys. Directly from the listing page, or wEth bids. A lot of people don't know this but if you have say 1 wEth in your account, you can actually place as many 1 wEth bids as you like. If one gets accepted, the rest of your bids become inactive.

4.Immediately look for a sale

Sweet one of your lowball wEth bids has been accepted! Now what? What worked for me at the start was to price aggressively and go for a sale ASAP. This way I could quickly compound the gains, get my capital back, and be ready to snipe the next deal.

Once I was able to afford multiple Lions at the same time, I realized that as long as I was able to stay liquid enough to snipe another 1 or 2, I could aim a tad bit higher on my sales. The trick here is to find a balance between pricing your sales and always having eth available

Whenever someone asks me "What should I price this at?", my response is always "When do you need it sold by?" In this game you can either price to sell fast or price to sell at fair market value, you usually don't get to do both. This strategy uses a mix of the two over time.

5. LIQUIDITY IS KING

It's almost always the wrong move to be all in. A slight downturn in the collections floor price could burn you badly in the short run, and on top of that you won't have any eth available to buy the deals from the panic sellers on the down turn.

I get excited when I see the floor dropping bc at this point I have the luxury of always being liquid enough to make a few buys. Periods of Panic and FUD on solid collections have proven time and time again to be the best opportunities to get the best buys. Buy fear, sell hype.

6. Use your projects discord and earn trust

Every projects discord has a marketplace channel. You need to be posting in here daily, it works. People in the community will start to know who you are and trust you for private deals which can save you a good chunk from OS fees

One of the biggest advantages I have from earning a good reputation within the communities I'm involved in is that people trust me for private deals and are willing to send first. I pretty much only do private deals now, which saves me the 6.5% fees on OS. The savings add up FAST

If you don't have the reputation yet, there are sites like nfttrader.io that act as an escrow service for private deals. For NFTs worth 2E+ you will most likely be better off using their service over going through OS. (There is a slight gas fee on both sides)

The key takeaways here are:

Pick a solid project.
Learn the prices so well that you can look at any of the 10k pieces of the collection and instantly know what it would sell at TODAY.
Hawk the listings page.
Price for quick sales at first.
Make connections and build trust.

This thread will probably cost me a few snipes/buys, but I really don't care. I've already changed my life with this shit so I don't mind sharing with ya'll. I look forward to cursing some of your names when you beat me to a buy 🤝

If you have any questions, drop by my twitter spaces on Wednesday at 5 PM PST. The focus of the space will be things I didn’t mention in the thread like:

Building a network of buyers/sellers
Market momentum
“Forever PFPs”
The art of negotiation
The mental game
…and more!

Looking forward to hearing about other peoples trading journeys, questions, and thoughts! Don’t be a stranger and stop by!

twitter.com/i/spaces/1yoKM…