From risk management, to finding and analyzing profitable wallets with tools, to setting up your trading bot, here is a detailed ultimate guide. This article is sourced from Dami-Defi, organized, compiled, and written by Shenzhen.
(Background: “Dog Hat Coin God of War” A smart money purchase of $WIF earns 2.31 million euros, with a trading win rate of up to 100%)
Table of Contents
What skills should you hone?
Proper risk management
Inquiry and analysis of profitable wallets (tools)
Analysis of tools for fraud
Setting up your trading bot
In the cryptocurrency field, working smart is often more effective than working hard. This year, I dedicated part of my funds to copy trading with major players, studying their strategies, automated trading bots, and secret tools. Through copy trading, my funds grew from $300 to over $300,000, and the process was surprisingly simple.
Here is the detailed ultimate guide.
The market provides various tools to track the movements of the best traders, allowing you to simply copy their trades and profit from them. It is so straightforward that you might think it won’t work at all. But the fact is, making money doesn’t necessarily have to be hard work. Recently, VanEck applied for the SOL ETF, and we can see companies like BlackRock doing the same.
This means that the Solana ecosystem is about to awaken, and meme coins will explode in various places. Now is the best time to track whales and discover the next $WIF in 99% of the market.
Proper risk management
Finding and analyzing profitable wallets (tools)
Setting up your trading bot
Memes are a high-risk investment and they can easily drop to $0. You need to identify, assess, and control potential losses. In general, do not allocate more than 2% of the coins in the Meme investment portfolio to a single currency. But if your portfolio is small, you can increase the risk appropriately, provided that it is thoroughly analyzed. When making a profit, be decisive.
At 2x profit: partial profit
At 3x profit: partial profit
At 4x profit: partial profit
At 5x profit: keep some as a “moon bag”
“moon bag” can give you the opportunity to earn more than 100 times the profit.
@dexscreener
Go to dexscreener.com
Filter tokens by market value, price changes, and new trading pairs
Click one of the best-performing tokens
Under its chart, click the “Top Trader” column.
@solanasniffer
Next, we analyze these top traders. Choose some of the most interesting ones you can find, preferably those who have turned small amounts of capital into large profits.
Save traders with a win rate of ≥65% and a realized profit/loss of over $300,000.
@RayBot_sol
Now that we have filtered the wallets we want to analyze, we will monitor them. This bot will keep you updated on the latest trades in the listed wallets.
@Rugcheckxyz
Scammers will try to cheat you out of your money, so you need to be extra careful.
Go to rugcheck.xyz
Paste the token’s address
Only deposit money into the token when it is marked as “Good”
The strength of a meme depends on its community.
Use @TweetScout_io to identify coins with high trading volume, check the growth of the number of token holders, assess TG and Twitter activity, and evaluate the participation of KOL promotions.
@bonkbot_io
The last tool needed to complete the copy trading setup is a good sniper bot. Timely execution of trades is crucial to maximize your potential. Most importantly, you need to configure the bot correctly.
You can copy my sniper bot settings:
Automatic purchase: enabled
Slippage: 30%
Price impact: 50%
Trade priority: very high
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