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The Ultimate Guide to Trading: How to Follow Smart Money Smartly?

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2024-07-02 14:04:31413browse

Author: Dami-Defi

Compiled by: Deep Tide TechFlow

In the cryptocurrency field, working smart is often more effective than working hard. This year, I dedicated part of my funds to follow the big traders. I studied their strategies, automated trading robots and secret tools.

My capital grew from $300 to over $300,000 through copy trading, and the process was so simple.

Here is the detailed ultimate guide.

The Ultimate Guide to Trading: How to Follow Smart Money Smartly?

The market offers various tools to track 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 the SOL ETF and we could see the likes of BlackRock doing the same.

This means the Solana ecosystem is about to wake up, memecoins are going to explode everywhere, and now is the perfect time to track the whales and spot the next $WIF before 99% of the market.

The Ultimate Guide to Trading: How to Follow Smart Money Smartly?

What skills should you hone? 1. Proper Risk Management

  1. Meme is a high risk investment and they can easily go down to $0. You need to identify, assess and control potential losses.

    As a general rule, don’t invest more than 2% of your meme portfolio in a single coin.
  2. But if your investment portfolio is smaller, you can increase the risk appropriately, but only after sufficient analysis.

  3. Be decisive when making profits.

When 2 times the income: partial profit

When 3 times the income: partial profit

When 4 times the income: partial profit

5 times When earning: Keep part of it as a “moon bag”

The “moon bag” gives you the chance to earn over 100 times your profits.

2. Find and analyze profitable wallets (tools)

@dexscreener

  • Go to dexscreener.com

  • Filter coins by market cap, rise/fall and new pairs

  • Click on one of the best performing coins

  • Under its chart, click on the “Top Traders” tab.

The Ultimate Guide to Trading: How to Follow Smart Money Smartly?

@solanasniffer

Next, we analyze these top traders. Pick some of the most interesting ones you can find, preferably those traders who turn small amounts of money into big profits.

Save traders who have a win rate of ≥65% and achieve profits and losses of more than $300,000.

The Ultimate Guide to Trading: How to Follow Smart Money Smartly?

@RayBot_sol

  • Now that we have filtered out the wallets we want to analyze, we will monitor them.

  • This bot will keep you informed about the latest transactions from the wallets in the list.

The Ultimate Guide to Trading: How to Follow Smart Money Smartly?

@Rugcheckxyz

Scammers will try to get your money, so you need to be extra careful.

  • Go to rugcheck.xyz

  • Paste the address of the token

  • Only deposit money into the token if the token is marked as "Good"

The Ultimate Guide to Trading: How to Follow Smart Money Smartly?

A Meme is only as strong as its community.

Use @TweetScout_io

  • to identify coins with high trading volume

  • Check holder growth

  • Evaluate TG and Twitter Activities

  • Evaluate the participation of KOL promotion

The Ultimate Guide to Trading: How to Follow Smart Money Smartly?

@bonkbot_io

  • The last tool you need to complete your copy trading setup is a good sniper bot

  • Executing trades promptly and quickly is crucial to maximizing your potential

  • The most important thing is that you need to configure the bot correctly

The Ultimate Guide to Trading: How to Follow Smart Money Smartly?

3. Set up your trading bot

You can copy my sniper bot settings:

  • Automatically Buying: Enabled

  • Slippage: 30%

  • Price Impact: 50%

  • Transaction Priority: Very High

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