🦾WalletX's Effective Copy Trading Guide - by KableK
Created by KableK (Professional Full-time Copy Trader)
Introduction
Copytrading can be a profitable strategy when executed correctly, but it requires careful wallet selection and risk management. This guide covers essential aspects of copytrading, from choosing the right wallets to managing your positions effectively. Whether you're new to copytrading or looking to optimize your existing strategy, these guidelines will help you make more informed decisions.
Finding Good Wallets for Copytrading
Mirror Sell Strategy
When copying mirror sells:
Avoid copying Scalpers and Whales
Focus on wallets with high median ROI
Use 'noscalper' and 'nopumpfun' categories
Avoid short trades - you'll get worse entry/exit points
Whale trades significantly impact prices, affecting profits
Custom Take Profit Strategy
When using your own take profit levels:
'noscalper' and 'nopumpfun' categories still recommended
Can include 'scalper' wallets with caution
Avoid frequent short trades (under 1 min)
Set take profit 10-15% lower than mirror when using scalper wallets
One Hit Wonder Wallets
Only recommended for active traders
Higher risk due to limited history
Success may be luck rather than skill
Wallet Management
Removing Underperforming Wallets
Remove wallets losing money consistently
Regularly check recent trade performance
Re-evaluate mirrors if stats decline
Watch for copier farming behavior
Don't stay attached to previously successful wallets
Single losses may not warrant removal if overall stats remain good
Odin Controls (Passive Strategy)
2 Max buys per mirror per hour
2 Max buys per mirror per day
2 Max buys per token per day
6 Max buys per token per week - Increase limits for high-performing mirrors - Higher limits suitable for active trading
Common Challenges
Profit Discrepancies
Normal to sometimes lose while mirror profits
More common with low market cap coins
Consider removing wallets if frequent
Avoid wallets with consistently low profit % (under 50-75%)
Trade Size Guidelines
Never exceed mirror trade size
Use maximum 75% of mirror trade size
Minimum trade size: 0.1 SOL
Start small for new copytraders
Scale up only after consistent profits
Risk Management
Key Principles
Only trade what you can afford to lose
Memecoin trading similar to gambling
Market conditions greatly impact success
Deploy capital gradually
Wait for position closure before adding funds
Selling Patterns
Sell entire position if consistently selling tiny amounts (<0.05 SOL)
Watch for position size mismatches with mirror
Consider transaction fees impact
Trade Speed Considerations
Standard speed usually sufficient
Tips not necessary for most trades
Focus on fee optimization
Speed more important for large trades only
Prioritize multiple small trades over fewer large ones
Conclusion
Success in copytrading requires a balanced approach combining careful wallet selection, proper risk management, and constant monitoring of your strategy's performance. Remember that market conditions change frequently, and strategies that work today may need adjustment tomorrow. Stay disciplined, manage your risk carefully, and be prepared to adapt your approach based on results and market conditions.
Last updated