5 Advices to be a better NFT trader:

I started my journey with Monkey Kingdom “MK” (my first NFT) which was on the Solana Blockchain and if you know how crazy their pump was, it was a big deal.

I managed to get 3 MK myself, and shared another 9 with 2 other friends. That made it 6. Back at it’s peak, they went to as high as 80/90 Solana in terms of Floor Price. Mint was around 2 Solana. Can you imagine the returns? It was well floating around $100,000. So i’m pretty sure you’re pretty curious on what are the lessons i’ve learnt from riding the bags, bear market, terra luna collapse and how my current bags are right?

What goes up, must come down

It’s a crazy feeling. When something you believe in makes you so much money and gives you a sense of belonging (to the community). As strong as the projects are, they wont be up forever. There’s always a chance of re-entry. No matter how good a project is, they will dip. Use this as your opportunity to take profits, and wait for dips so that you can still join back in on the community. However, to execute this perfectly requires patience and understanding that the dip might happen later than expected (or at a higher price / threshold).

Smart money moves

2. Smart money moves.
Take profits, use the profits to buy other projects so that you can diversify your NFT Portfolio. Always bear in my the concept of opportunity cost. It is the cost of another opportunity when you make a certain decision. For example, at this current time, you buy into a crappy ass ghetto project that turned your 4.5 Sol into 0.4 Sol. You could have instead bought into ABC at 4.5 Sol. Which sits around 45 Sol. You could have had the opportunity to 10x your investment. That in turn makes your opportunity cost 44.6 Sol as you lose your shot on pumping your bags. Dont be a bozo.

Ideas are just ideas until they work.

3. Ideas are just ideas until they work.
The Meta is always changing. Always be on the lookout to see similarities of different trends coming along. Follow trends that are safe. Some projects execute it perfectly and some dont. Just because their mechanism works doesn’t mean that the team is implementing them perfectly. The team, their vision, their goals are so important. You should always make sure you align with how they do things, how they talk, react to questions and how helpful they can be are usually some pretty good indicators.

See who stands out the most.

4. See who stands out the most.
Loud does not equate to a strong founder. Not all founders that are loud on spaces are successful/ smart / executes on their ideas. Lets be honest. Noone really knows what is going to the moon or what works. But it’s how resilient the founder is that drives the company. Especially in this space where most of us are hidden from one another, the only way people can hear us is through voice chats (which isnt too hard to fake). Look for a founder that is unique, stands out and someone who is able to deliver more than what they preach. That is truly something that Frank (DeGod’s founder) one of the greatest founders in the space.

Put in the work. It doesn’t always have to be a gamble.

5. Put in the work. It doesn’t always have to be a gamble.
Always do your research before buying into the project. Always make sure that the money you invest maybe lost in the event of a hack or even if you get rugged (scammed). Always be aware that any thing you click could lead to a hack so make sure you are vigilant when clicking around your wallet. Take the time to educate yourself, scroll through discord and twitter to find out more information about a project. This will give you more hands on exprience to know what to look out for.

At the end of the day, i hope you guys enjoy reading this. Bringing in more content over the coming months. I will be sharing more alpha calls on here. Turning this into a blog and will slowly convert into a site + community. I want to take the time to build something simple, easy to use and bring more people into the space.

Think of a agency that bridges web2 customers to web3….. I dont want to say too much. Lets figure things out as we go.

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