Preface
In the previous articles of this series, we have introduced the importance of "line watching websites", the key points of selecting "trading robots", and how to analyze "smart money" and grasp market trends through "monitoring tools". Today I want to introduce to you the “Following Function” that many players love and fear!
Speaking of the importance of the copying function, it is like a "copy master" that allows us to stay close to smart money 24 hours a day. Through reasonable settings, it can help you not miss any opportunities while sleeping and maximize efficiency. However, if the setting is improper, you will often wake up only to find that your wallet has been emptied!
In this article, we will introduce Dbot, the most popular and fastest-responsive copying bot currently on the market, how to select smart money suitable for copying, and share those details that are easily overlooked but crucial. Through these advanced instructions on how to set up orders, you can still make up the difference by following orders even if you can't beat others on the meme track!
Introduction to copying BOT—Dbot
Among the following Bots currently on the market, only Dbot is recommended.
Dbot web version invitation link
The author himself is a heavy user of Dbot. The reasons for recommendation are as follows:
The function is very complete and supports ETH, SOL, BASE, TRON, and BSC following orders.
Supports web interface, greatly reducing the difficulty of setting, and the latest settings will be synchronized with TG Bot in real time.
The response speed of copy trading is faster and more stable than others.
Optimize the version and update bugs every 1-2 weeks. For details, please see the DBot update log.
The following settings can be very detailed, such as limiting the market value, limiting the number of purchases, taking profits in batches, etc.
The project team itself started by doing on-chain data, and this year it switched to developing Tg Bot.
The customer service attitude is good and the return processing efficiency is high.
If readers have a copy Bot that they are accustomed to using, they can continue to use it and just refer to the settings shared in this article to make adjustments.
5 advanced filters for smart money to follow
In fact, copying is a relatively high-risk operation mode. First, buying and selling are usually delayed by 1-10 seconds, resulting in a higher buying price and a lower selling price. For example, if the follower completes a transaction with a +50% profit, you may only be left with +10% profit; if he closes the market or sells at +10%, your profit may be - 30% or more.
Therefore, whether it is "winning rate" or "yield rate", it will be greatly reduced after following the order! Therefore, finding smart money addresses is only the beginning but not the end. Subsequently, we must conduct a more in-depth analysis of these smart money addresses to find the best among the masters and try to reduce the impact of these "unfavorable factors".
Friends who see this, you can first review our previous article on how to avoid the filtering conditions of "landmine smart money" - seemingly perfect smart money hiding landmines? 4 tips to help you pick out “really useful” smart money!
Continuing to add today, if you want to use smart money in copying orders, what conditions need to be filtered more strictly?
The speed of fast transactions cannot be less than 5 seconds: If the speed of fast transactions is less than 5 seconds and the number of times is more than two or three times, it is recommended not to follow this address. If the fast-forward and fast-out operation is less than 5 seconds, the probability that the copying Bot will not be able to react in time will increase significantly, causing the subsequent selling operation to be invalid.
The number of hoarded coins that are not sold at a loss is higher than 5: the copy wallet pays great attention to the liquidity of the wallet.
Pay attention to the transaction records of repeated entry and exit: If you have been buying and selling the same token all the time, you must pay more attention. If it is a token with a large market capitalization, it is reasonable; if you are constantly buying and selling a token with a small market capitalization, you should pay special attention to whether it is a sign of copycat trading. That is to say, the follower is introduced to tokens with small market capitalization, and the characteristics of the follow-up operation allow you to lift the sedan and dump the goods to you. Although the profit is less, repeated entry and exit can still eventually drain the follower's wallet. Squeeze it dry!
Pay attention to the average purchase cost of the address: You can see the average purchase cost of the address on GMGN. It is recommended not to follow the address whose average purchase cost exceeds 500u. By following such an address, the price difference we eat will be quite large, which will greatly affect profits. .
Pay attention to the average loss: because the loss of copying is about +20%, the risk control ability of the address needs to be more careful. Two addresses with the same winning rate and the same profit will still have different risk control capabilities. If the address If the average loss is greater than 35%, you need to consider carefully. It will be more uncomfortable to follow a single entity!
5 important settings instructions for following orders
The picture above shows the numerical setting of copying orders. The setting of copying orders will greatly affect the income. The author here explains these 5 things that need to be paid attention to:
Priority fee:Also known as Jito, its function is very critical for users who pursue extreme speed. It can increase the speed of transactions on the chain and jump in queues. Just imagine, if a smart money address is followed by 10 people, and you are the second to buy and the eighth to buy, there is a difference between 6 people lifting the sedan, and the income gap will appear here.
Therefore, the author suggests that there is no need to save the bribe fee for following orders. The author often even adjusts it to 0.05 SOL, just to keep up with it. It is relatively cost-effective to spend the bribe fee to reduce the price difference.
Slippage: If set to 45%, it means that the price when copying the purchase is more than 45% different from the purchase price of the copying object, then the transaction will not be sent out. This setting can be adjusted according to your own acceptance.
Market value range:Dbot can set the purchase market value, and will not buy if it is below or above a certain market value. This option can avoid buying a market value that is too small. For a novice, I would recommend setting it to more than 10K.
In addition, friends who can write code can try to analyze the trading range that each address is best at. Some smart money addresses have a winning rate of 60%, but in the 15K-30K range (assumed value), the winning rate will increase to 80%, so Once you limit the purchase market value, you can optimize the copying performance.
Concurrent nodes: A concurrent node is one that sends transaction requests to multiple Solana nodes at the same time. Setting it to 3 nodes will come faster than 1 node, because sending transactions to 3 nodes at the same time greatly improves the probability of transactions being accepted and confirmed. It’s like you’re queuing up in 3 windows at the same time and whoever gets vacated first processes your transaction first.
Stop loss amount: Please be sure to set a stop loss amount. This is the last line of defense to prevent copycat orders. The author recommends setting 50% to 60% of the wallet balance. After setting up, remember to always pay attention to the current wallet balance. If the balance is lower than this balance, the copying task will automatically stop.
Extra reminder: Never put too much money in the wallet you follow. Assuming the starting capital is 10 $SOL, then when you earn 20 $SOL, you must return 10 $SOL to the exchange to avoid being suddenly delisted one day. Cut off the copy and drain it!
Conclusion
Following orders seems to be a good way for us to "make money while lying down", but in fact it requires a lot of effort in early preparation and continuous monitoring. From selecting suitable smart money addresses, careful parameter settings, to continuous observation of market dynamics, every step cannot be taken lightly.
Many novices often start following orders rashly with the mentality of lying down and making money, but they ignore that following orders is actually a higher-risk operation mode. In addition to the price difference loss caused by transaction delays, you also have to face the possible risk of cutting and following orders. Therefore, before starting to follow orders, it is recommended that you first test with a small amount of money to familiarize yourself with the entire copying mechanism and the impact of various settings. At the same time, we must also remember that no matter how smart money is found, don't put all your eggs in the same basket.
Finally, copying is just one of many trading strategies that can help us not miss market opportunities during breaks, but we must not rely entirely on it. It is recommended that everyone should continue to learn and improve their trading skills while using follow-up orders. After all, the market is changing rapidly, and only continuous growth can keep a firm foothold in this market.
Dear reader, you may be thinking: "Where can I learn and see these in-depth analysis methods and precious information sharing?"
Click the link below to learn together!
https://da.studio/
