Author: Dami-Defi
Compiled by: TechFlow
In the cryptocurrency space, working smart often works better than working hard. This year, I dedicated a portion of my funds to copying the biggest traders, and I studied their strategies, automated trading bots, and secret tools.
I grew my capital from $300 to over $300,000 by copy trading, and it was so easy.
Here is the ultimate guide in detail.
The market offers various tools to follow the movements of the best traders and you can simply copy their trades and profit from them.
It’s so simple and straightforward that you might think it won’t work at all. But here’s the thing, making money doesn’t have to be hard work.
VanEck recently filed for a SOL ETF, and we could see the likes of BlackRock doing the same.
This means that the Solana ecosystem is about to wake up, memecoins will explode everywhere, and now is the best time to track whales and discover the next $WIF before 99% of the market.
What skills should you hone?
Proper risk management
Finding and analyzing profitable wallets (tools)
Setting up your trading robot
1. Proper risk management
Memes are a high-risk investment, and they can easily drop to $0. You need to identify, assess, and control potential losses.
As a general rule of thumb, don’t put more than 2% of your meme portfolio into a single coin.
But if you have a smaller portfolio, you can increase your risk appropriately, but only after sufficient analysis.
When it comes to taking profits, be decisive.
2x profit: Partial profit
3x profit: Partial profit
4x profit: Partial profit
5x profit: Keep a portion as a "moon bag"
A “moon bag” can give you the opportunity to earn more than 100 times your money.
2. Find and analyze profitable wallets (tools)
@dexscreener
Go to dexscreener.com
Filter tokens by market cap, gain, loss, and new pairs
Click on one of the best performing coins
Under its chart, click on the Top Traders tab.
@solanasniffer
Next, we analyze these top traders. Pick the most interesting ones you can find, preferably the ones who have turned small amounts of money into big gains.
Save those traders with a win rate ≥ 65% and a profit and loss of more than $300,000.
@RayBot_sol
Now that we have narrowed down the wallets we want to analyze, we will monitor them.
This bot will keep you updated with the latest transactions of the wallets in your list.
@Rugcheckxyz
Scammers will try to defraud you of your money, so you need to be extra careful.
Go to rugcheck.xyz
Paste the address of the token
Deposit money into a token only if it is marked as “Good”
A meme is only as strong as its community.
Use @TweetScout_io
Identify coins with high transaction volume
Check the growth of the number of coin holders
Evaluating TG and Twitter activity
Evaluating KOL engagement
@bonkbot_io
The last tool you need to complete your copy trading setup is a good sniper bot
Timely and fast trade execution is essential to maximizing your potential
Most importantly, you need to configure the robot correctly
3. Set up your trading robot
You can copy my sniper bot setup:
Auto-buy: Enabled
Slippage: 30%
Price impact: 50%
Transaction priority: Very high
