Goals: I think a lot of people make the mistake of not setting goals for themselves in this space. So many people just watch trending, ape in, lose ETH and do it over and over again, wondering why they buy the top and sell the bottom. Sound familiar to anyone??? I used to do the same thing…
It’s really important to have a strategy and a purpose behind why you are here and the moves you make.
Why are you into NFT’s? Do you want to be part of long-term communities? Flip? A little of both?
Define your goals clearly and create action steps. This is how I do it:
Things I want to keep doing (they are proven successful)
A.
-action step
-action step
B.
-action step
Things I want to stop doing (proven unsuccessful)
A.
-action step
-action step
B.
-action step
Things I want to start doing (to become more successful)
A.
-action step
-action step
B.
- action step
Put it on a whiteboard where you usually trade NFT’s as a constant reminder. ps. This works great for life goals too.
There is a TON of opportunity to make ETH in this space but you can’t do it on the whim and trade recklessly. Make calculated risks and aggressively sell for profits.
TOOLS
Here’s a good site to keep track of your wins/losses (no need to connect a wallet) FLIP WATCH
Note : If you transferred an NFT to a different wallet and sold it, it shows as 100% profit so you’ll need to do the math there, but overall, it’s a great tool to see how you are doing.
GWEI
Wondering why gwei is so high? Here’s a site that breaks down not only current gas but also WHY it is as high/low as it is:
CHART AND DATA
IMO the key to successful trading is learning how to read charts and data. I’ve said it before but Alpha Sharks (https://twitter.com/AlphaSharksNFT) is my favorite tool for this.
https://opensea.io/collection/alphasharksofficial
Don’t know how to use the tool? No worries, in their discord they have a ton of tutorials and walk-throughs to help you get up to speed on how to use it effectively. ps. they also have a lot of great alpha calls and giveaways in there…
