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  1. Copytrading

Setting Up Copy Trading

PreviousUnderstanding Copy TradingNextManaging and Adjusting Copy Trades

Last updated 6 months ago

Choose a Wallet: To begin, select a wallet you want to follow. Toxi may provide options for top-performing or popular wallets, or you can enter a wallet address manually.

Here is what you first see when setting up a copy trade wallet: many parameters. But don't get overwhelmed, they all are relatively simple as I will walk you through them.

First, let's start with a target wallet, the wallet that made a lot of profit. You can find it yourself, additionally, there are many great researchers like who post profitable wallets.

Today, we will play with this one: 5wTLevkkUWzKgRTWKcSjrgdoP8TnrEnXYGaAxFKibsS5

1/ Now simply press Target and paste this wallet.

2/ Now you can also set the name Tag, we will use "Whale1".

We are almost done, now we need to set BUY and SELL settings but first let me give you some insights.

Auto Trading allows you to trade entirely passively simply by picking a desired amount that will apply to all trades made by the wallet.

You can pick between "FIXED", "TRADE AMOUNT %" and "BALANCE %"

  1. Fixed represents a fixed trade amount for each trade. For example, every buy trade will be replicated with 0.1 $SOL buy from your wallet.

  2. TRADE AMOUNT % represents a percentage of the amount the whale spent on the trade. For example, if the whale spends 1 $SOL to buy $PNUT, you can set the percentage at 25%, and you will buy $PNUT too with 0.25 $SOL yourself. This strategy is great for adjusting to a whale's trade size.

  3. BALANCE % represents the trade value when compressing your net worth. For example, if you are worth 10 $SOL and the percentage is set to 10%, you will copy trade with 1 $SOL (the 10% of your net worth).

Manual trading is a bit more controlled. You will receive a notification on each whale's swap, allowing you to decide yourself how much $SOL you want to spend.

However, this might steal your revenue, as you think others will buy, pumping the price even higher. Then, you will be the last one to buy at a higher price.

There are also degen settings that allow you to make your trading experience even more unique and profitable. Let me walk you through each of them.

Min/Max MC represents the traded token's minimal and maximal market cap. Buying low mcap tokens may result in higher profit with higher risk, and the same is true with higher caps.

If you are inexperienced, it is better to leave this unchanged and edit it according to your trading style.

Min/Max Target Amount allows you to filter too big or too small trades the whale did.

If it's an MEV bot and he bought with high slippage for 1000 $SOL, you should skip this trade.

Also, if Whales do thousands of small text, you might want to filter them too, and most of the tokens will go to 0$, and your network fee expenses will skyrocket.

Slippage is essential as it allows you to complete a text faster, even if the return value is lower than expected.

For example, if the demand for tokens is high and it's growing exponentially, low slippage might result in a failed TX as the price will be out of scope once your TX reaches the blockchain.

However, increasing slippage accordingly may help you buy among the first and profit with our lightning-fast transactions.

3. Activate Copy Trading: Once your settings are configured, activate the copy-trading feature. Toxi will start tracking and replicating the trades of the chosen wallet immediately.

4. Monitor Performance: In your portfolio view, you’ll be able to track the performance of your copy trades, just like any other holdings.

Trading alerts

Once you've set up the copytrading wallet, you will receive transaction alerts for each trade it makes. Either BUY or SELL. You will get them all the time and they are made to help you with tracking all the recent trades and sizing up/down on some specific trades.

Once you get a BUY Copy Trade alert, this will be automatically copied with your parameters, or you will need to manually pick the amount if that's the type of copytrading you prefer.

You will get notified with these options, which are meant to make your trading as FAST as possible.

The same goes for SELL Copy Trading, where you can pick possible options and react accordingly.

Now let's proceed to the next section:

Managing and Adjusting Copy Trades
https://x.com/Monitor_fi