Not having luck flipping NFTs? 😡
You're probably doing it wrong 🫵
Here are some quick tips for trading in #web3🧵⤵️
1. Track Wallets
Turn on Etherscan notifications for NFT whale & influencer wallets.
Both tend to get alpha first, so their purchases can give you an early indication of an upcoming pump.
Most of these wallets can be found by searching (username).eth
2. Read the Charts
History doesn't always repeat, but it can be a helpful tool.
Analyze the price charts, and find common trends such as repeating bottoms & channels.
Investigate what events happened preceding dramatic price action. This will give you a more complete picture.
3. Eliminate Emotions
It's easy to get attached to NFTs. That's what causes errors in judgement.
Before you enter a flip, set a sell price and stick to it. Selling into a pump is better than trying to liquidate during a retrace.
Aim for profit, not the top.
4. Volume is Key
A good flip needs volume, regardless of everything else.
Analyze the listing & sales activity to ensure you won't be holding for too long.
Web3 moves fast, and it's easy for low-volume projects to be forgotten. When this happens, undercutting wars begin.
5. Trust Yourself
Nothing in this thread should be considered financial advice.
You should only enter trades that you feel comfortable with.
Don't be controlled by FOMO or greed. There will always be more opportunities.
TLDR: How to Flip NFTs
- Track wallets of notable traders
- Analyze price patterns
- Trade with your brain, not your heart
- Volume = quick turnover
- Don't succumb to FOMO
If you enjoyed this thread, head back to the top & RT to show your support!