Original | Odaily Planet Daily ( @OdailyChina )
Author: Golem ( @web3_golem )
The Solana Meme market is in full swing. I believe many players have joined the degen queues of scanning chains, groups, and pushes every day. Every day, they charge three or four Meme coins on the chain, and as many as 20 to 30 Memes. So with so many Memes every day, I believe everyone has made money, right?
If you make money in this way, you can be called the best in the chain and be envied. But in fact, 99% of the Meme coins in the market are PVP. The real situation of ordinary players is that they buy at the top of the mountain and hold for a long time and then get cut. After finally rushing to a golden dog, either the chips are insufficient or they sell at a loss. After a lot of trouble, not only do you not get your money back, but because of the loss of energy, your normal study and work efficiency in real life has also become lower (I am talking about you who don’t concentrate on class and work!)
So, is there any way to help ordinary players scan the chain to rush Meme and make money without affecting the rhythm of real life? The answer is to follow the smart money on the chain. Starting from November 16, the reporter used 1.2 sol to experimentally follow the on-chain operation of a smart money. So far, a total of 101 Memes have been rushed, with a total profit of 866.73 USDT, and 3 of them have made a profit of more than 500%.
However, it is better to teach a man to fish than to give him a fish. In this article, Odaily Planet Daily will teach you step by step the specific operations of following smart money and review the mainstream smart money following tools.
How to screen out smart money to copy
If you want to copy smart money, you must first know who the smart money is. However, because everyones operating habits and risk tolerance are different, we must select wallets that are similar to our own operating style or that we prefer as copy objects. How to find them, and some ideas for screening, I recommend reading Odaily Planet Daily reporter Nan Zhis series of articles on smart money research: (in chronological order)
Meme Training Manual: Rebirth: I Want to Be a Diamond Hand (Part 1) | Produced by Nanzhi
Meme Training Manual: Rebirth: I Want to Be a Diamond Hand (Part 2) | Produced by Nanzhi
Meme Training Manual: Rebirth: I Want to Be a Diamond Hand (Part 3) | Produced by Nanzhi
Meme Training Manual: Rebirth: I Want to Be a Diamond Hand (Part 4) | Produced by Nanzhi
Meme Training Manual: Which early buyer characteristics are effective conditions for rising prices?
Tutorial on using GMGN to copy smart money
GMGN is currently a popular Meme trading, chain scanning and on-chain data analysis tool. Users can connect to decentralized wallets such as Phantom, OKX Wallet, etc. on the web to trade Meme coins, or use the Telegram robot it launched to trade. Compared with on-chain wallet transactions, robots are faster, but at the same time, they are also more susceptible to hacker theft. Therefore, when using TG robots, remember to only deposit a small amount of funds in the wallet.
Currently, you can only use GMGNs Telegram robot to copy trades. The tutorial is as follows:
Log in to the BOT wallet and top up
First, click here to log in to the GMGN wallet robot. When you go to the following page, the login is successful. As shown in the figure below, GMGN will automatically generate Solana, Ethereum and Tron wallet addresses for users. If you want to trade Solana Meme coins, users need to transfer money to the Solana address from the exchange or on the chain. The specific transfer operation will not be demonstrated.
Using Trading Bot
After the funds are deposited into BOT, click the blue Trading Bot next to the Solana address to jump to the GMGN trading robot.
As shown in the above picture, if you are not used to English, you can first click Language in the lower right corner to switch the language. GMGNs trading robot supports English, Chinese and Korean. After switching, as shown in the figure below, GMGN has two copy trading modes: Signal Copy and Wallet Copy, which we will introduce separately below.
Wallet copy
The GMGN trading robot can copy orders from up to 10 addresses. When the balance of the copy order is insufficient for three consecutive times, the system will automatically stop the copy order task and send a message reminder. After clicking on the wallet copy order and creating a copy order, the settings shown in the figure below will appear.
First click to enter the address you want to copy;
Set fixed buy and maximum follow-buy: Users can set a fixed buy amount for each copy transaction. The maximum follow-buy means that if the copy address buy amount is less than the set maximum follow-buy, the user address will buy at the fixed buy amount; if the copy address buy amount exceeds the set maximum follow-buy, the user address will buy at the set maximum follow-buy;
Enable automatic follow-up selling: When the copy address sells, the user address sells in equal proportion. For example, when copy address A sells 10% of its own GOAT, the GOTA bought by the user following A will be sold in equal proportion (the GOAT bought by the user or the GOTA bought by other copy addresses will not be sold), but the selling ratio cannot be set actively. Users can also set stop-profit and stop-loss and choose not to follow the sale, that is, sell manually;
Other settings: GMGN also has priority fees (to make transactions confirmed faster), anti-pinch (to prevent robots from buying before user transactions are confirmed, and then selling for profit when user transactions are confirmed) and slippage (the maximum tolerable transaction error) settings. However, for novices, except for turning on anti-pinch, other default settings can be selected;
It’s best to just click “Create and Enable Copy Trading” and you’re done.
If you go back and click Wallet Copy again, you can clearly see the copy operation status, but you cannot view which Meme coins were bought/sold.
Signal copying
Signal copying means buying and selling based on certain signals, rather than specific smart money addresses. Signal copying is a special feature of GMGN. The advantage is that users do not need to screen smart money addresses for copying, but only need to buy according to recognized trading signals.
Click Signal Follow, as shown in the figure below. Currently, GMGN only has one signal, PUMP CTO, which means that when the Solana token released on PUMP is taken over by the community, the GMGN trading robot will automatically purchase it according to the parameters and token screening conditions set by the user.
After clicking PUMP CTO, as shown below, users can set some screening parameters, including purchase amount, pool size, opening time, transaction amount, and number of transactions. However, for now, community CTO is not a rare thing in Solana Meme, because buying and selling may also be very frequent, so users are advised to operate with caution.
Other smart money copy tools
In addition to GMGN, there are other smart money copy trading tools with high credibility and good user experience, which will be introduced one by one. (Odaily reminds again: copy trading tools need to import wallet private keys, so although the tools are good, you must also pay attention to prevent risks)
Dbot
Dbot is a fully automatic trading robot that supports multiple chains. Its functions include following orders, sniping, limit trading, etc. It also has a simulator, which can better test the effectiveness of the selected smart money for users who like to follow smart money.
At the same time, Dbot copy trading does not use Telegram robots, but is operated on the website. It can clearly and intuitively record copy trading, including copying Meme coins, buying and selling amounts, etc., which is more convenient for analysis and adjustment of strategies, as shown in the figure below.
Banana Gun
Banana Gun is a popular Telegram trading robot on the market. It currently supports token trading on Solana, Ethereum, and Base. It has a simple interface and low fees. Although it specializes in trading sniping, it also has the function of copying smart orders.
Maestro
Maestro is also a relatively mainstream Telegram trading robot with comprehensive functions. However, it is somewhat complicated and difficult to operate overall, and is not very friendly to novices. Maestro mainly includes trading sniper bot, wallet bot, whale monitoring bot and buying and selling monitoring bot. The trading sniper bot also supports copy trading.
Trojan
Trojan was created by Reethmos, the former head of Unibot community operations, and is considered a subsidiary product of Unibot. It also supports copy trading and has a relatively complete set of parameters. In the advanced settings, you can choose whether to purchase a token repeatedly, market value, liquidity screening, etc.
Sol Trading
Sol Trading is also a Telegram robot that integrates Jupiter, Orca and Radium, and can find more suitable transaction prices for users. However, although it supports copy trading, the copy trading parameters are relatively simple, and can only set a fixed buy amount and follow-sell ratio.
