How to profit from 0.6 to 150 ETH in the NFT secondary market without minting, whitelist, bots, or insider groups?

NFT player Cirrus shared on Twitter his process of making 150 ETH profit with 0.6 ETH in the NFT secondary market. He did not participate in project minting, whitelist allocation, or have access to scientist bots, scripts, or insider Alpha groups, purely sharing a trading strategy that has proven useful to him.

Original link: https://threadreaderapp.com/thread/1493281896226177024.html

1. Choose Verified Projects

When I first entered the world of cryptocurrencies, I blindly followed numerous non-original, imitation projects, taking on significant risks while waiting for NFTs to either skyrocket or sink. However, when I chose a project with reliable trading volume, the entire trading game changed for me – Lazy Lions.

The floor price of Lazy Lions has approximately doubled since my first encounter in August last year. I mention this to emphasize that you don't need exorbitant price surges to make a profit. While that is not a bad thing, all you need to ensure is that the project has consistent and sustainable trading volume.

2. Research NFT Features/Rarity

Research NFTs. You need to understand the project better than others, which takes time and experience. It's not an easy process but is the most crucial part of this trading strategy. The NFT rarity tool rarity.tools will be your best friend.

I found that many people are not aware that OpenSea has a sales listing page. By clicking "activity" and selecting "listings" and "sales" on the left side, you can view real-time sales status. This page is your textbook; make sure to study and learn from it.

Before I built confidence and made my first significant trade that I truly believed in, I spent a month watching the Mutant Apes sales listings. Once you understand the market well enough, you can immediately identify viable trades when a project goes live and start sniping and bidding on NFTs.

3. Make the Purchase

Simple, right? My initial rule of thumb was if I believed there was over a 75% chance of selling for a profit "on the same day," I would buy. This is a very conservative strategy but is suitable for quickly accumulating profits with a small capital.

There are two ways to buy:

1. Directly from the listing page.
2. Bidding with WETH.

Many people are unaware that if you have 1 WETH in your wallet, you can bid 1 WETH on any number of NFTs. If one of them gets sold, the remaining bids will become invalid.

4. Bid Immediately

One of your low bids has been accepted among multiple bids! What do you do? A tactic that worked well for me in the beginning was to bid aggressively and sell quickly. This way, I could rapidly accumulate profits, recoup costs, and be ready to target the next trade.

As I could afford multiple Lazy Lions NFTs simultaneously, I found that as long as I maintained enough liquidity to target another one or two NFTs, I could raise the selling price a bit.

The trick here is to find a balance between your selling price and the ETH you have on hand.

Whenever someone asks, "What should I set my selling price at?" I counter with, "When do you need to offload it?" In this trading game, you:

1. Can sell quickly.
2. Can also sell at a fair market price.

But usually, you cannot achieve both simultaneously. Over time, your trading strategy should incorporate a mix of both.

5. Liquidity is King

"Going all in" is almost always a wrong decision. Even a slight drop in the floor price of NFTs can severely impact you in the short term. More importantly, you will have no ETH available to intervene in panic selling situations.

Whenever I see a drop in the floor price, I get excited because I always have enough ETH to buy several NFTs. The panic and FUD periods experienced by some reliable projects have repeatedly proven to be the best buying opportunities.

Buy in fear, sell in hype.

6. Utilize the Project's Discord to Build Trust

Every NFT project has a market channel on Discord. Posting in this channel daily is very useful. The community will start to know who you are, trust you, and engage in private transactions with you, saving you a significant amount in fees.

One of the biggest advantages of building a good reputation in the community is that everyone trusts me and is willing to send funds first in a trade. I now almost exclusively do private transactions, saving me 6.5% in fees.

If you haven't established a reputation in the community, you can also trade through private trading platforms like nfttrader.io. For NFTs valued at over 2 ETH, using nfttrader is likely to be more cost-effective, as OpenSea charges a minimal Gas Fee for both buyers and sellers.

Key Takeaways

• Choose a reliable project.
• Learn to understand project prices until you can instantly see the "today" selling price of tens of thousands of NFTs in a project.
• Snipe the listing page.
• Quickly offload at the start.
• Build reputation and trust.

This post may have cost me some time for sniping and buying, but I don't mind. This trading strategy has truly changed my life, and I'm happy to share it with you. I look forward to you using the same strategy to thwart me when I'm sniping and buying in the future, and I will curse your name.

If you have any questions, join my Twitter audio space on February 16 at 09:00 Taiwan time. I will focus on topics not covered in this post, such as:

• Building a buyer/seller network
• Market momentum
• Forever PFPs
• The art of negotiation
• Mind games

I look forward to hearing about others' trading journeys, questions, and thoughts. Don't be a stranger; come join!