Copy Trading Steps
You have two options to set up the bot. For advanced copy traders, you can configure the bot manually, customizing each component to suit your specific needs. Alternatively, if you're less familiar with the customization process, you can enable the "Smart Setup" feature, which automatically configures the bot for optimal performance under most copy trading conditions.
The bot three two configuration parts in general:
General
Advanced
Smart Setup
General
The general part has some steps that must be filled and some that you can leave it as default. Of course if you turn on "Smart Wallet, you need to only fill the first three steps.
Name: Assign a tag to your setup to make it easier to recognize later.
Trader Address: Enter the address of the trader whose trades you want to copy in this field. This is a required field.
Your Wallet: You must select a wallet from your list. If you haven’t created one yet, you can do so in the wallet section.
Budget: By default, the copy trading bot uses the SOL in your wallet to make purchases, continuing until your wallet is empty. However, if you prefer to limit the amount of SOL spent on a specific setup, you can enable the Budget option. Once activated, set the maximum amount of SOL allowed for spending. When the bot reaches this limit, it will automatically stop buying. Note that this only affects purchases; the selling functionality of the bot remains unaffected.
Buy Amount: Specify the amount of tokens you want to purchase for each trade. For example, if you wish to buy 0.1 SOL every time the trader you’re copying makes a purchase, enter 0.1.
Alternatively, you can enable the "Balance Ratio" option.In Balance Ratio, your trade size is adjusted proportionally based on the ratio of your account balance to the trader’s balance you are copying. For example, with the balance ratio of 100%, if your balance is 1 SOL and the trader’s balance is 10 SOL, when he buys 1 SOL, your buy is 0.1 SOL. Default is 100%.
Sell Amount: For selling, you have a few options:
If you enable "Skip Sell," sell trades made by the trader will not be executed for you.
If you wish to sell whenever the trader sells, leave "Skip Sell" disabled and set the percentage of tokens to sell for each trade.
Alternatively, you can enable the "Balance Ratio" option. In Balance Ratio, your trade size is adjusted proportionally based on the ratio of your account balance to the trader’s balance you are copying. For example, with the balance ratio of 100%, if your balance is 10 Wif and the trader’s balance is 100 Wif, when he sells 10 Wif, your sell is 1 Wif.
Expiration Date: By default, every setup is paused after 7 days to prevent tracking inactive wallets (those without sufficient SOL or tokens). You can resume the copy trading process from the "Copy Trading" section after 7 days. Additionally, you can set a custom expiration time of up to 7 days for your setups.
Advanced
If you are new to copy trading, it’s recommended not to modify the setups in this section. The automated setups are optimized for most copy trading scenarios. However, if you are familiar with the terms and concepts in this section, you may choose to make adjustments to align with the trader's strategy.
Priority Fee: A priority fee is an additional cost added to transactions on the Solana blockchain to increase their success rate. While spending a higher fee doesn’t guarantee that a transaction will be confirmed, it significantly improves the chances of success. You can choose from three preset options—Normal, Fast, or Ultra—or set a custom fee based on your preference.
MEV Protection: Enabling MEV Protection ensures your transactions are routed through a private channel called Jito, safeguarding them from MEV (Maximal Extractable Value) bots. You can choose from Smart Jito Tips options—Normal, Fast, or Ultra Fast—or specify a custom tip amount for your transactions.
Smart Jito Tips are dynamically adjusted based on the success rate of recent Jito transactions:
Normal: 50% of transactions with this tip have been successful.
Fast: 75% of transactions with this tip have been successful.
Ultra Fast: 95% of transactions with this tip have been successful.
Slippage:
Slippage is the difference between the expected price of a trade and the actual price at which it is executed. It occurs due to price changes between the time you place a trade and when it gets executed, often in markets with high volatility or low liquidity.
Using an unoptimized slippage can expose your trades to risks. Setting the slippage too low may result in failed trades, while setting it too high can attract MEV (Maximal Extractable Value) bots. MEV bots exploit high slippage by executing strategies like "sandwiching," where they buy tokens at a lower price and sell them to you at a higher price, taking advantage of your willingness to accept unfavorable prices.
To mitigate these risks:
Avoid setting slippage too high, as it makes your trades vulnerable to MEV bots.
Avoid setting slippage too low, as it may lead to failed trades in volatile or competitive markets.
Best Practice: Set a slippage slightly higher than normal, for example 3 or 5, to accommodate market volatility and use MEV Protection (as described in the Priority Fee section above). This ensures your transactions are routed through private channels, protecting them from MEV bots while still allowing higher slippage to improve the likelihood of successful execution during rapid price fluctuations.
Liquidity
In certain cases, you may prefer not to copy buy trades for tokens with very high or very low liquidity. To address this, you can set a liquidity pool range. For example, if you specify a range between $50,000 and $1,000,000, the bot will only execute buy trades for tokens with liquidity pools within that range.
Note: This option only applies to buy trades and does not affect sell trades.
Market Cap
In some scenarios, you may prefer not to copy buy trades for tokens with extremely high or low market capitalization. To manage this, you can set a market cap range. For instance, if you are copying a trader who focuses on pump.fun tokens, you may want to avoid tokens with a market cap below $5,000 or above $80,000. By setting the market cap range within these limits, the bot will only execute buy trades for tokens that fall within your specified range.
Note: This option only applies to buy trades and does not affect sell trades.
Platform
By default, the Dexwhales copy trading bot copies trades made on any Solana trading platform. However, if you prefer not to copy trades from a specific platform, you can disable it in the Platform section.
Jupiter: Turning off Jupiter skips all the trades executed by this platform.
Pump.fun: Turn off this if you want to skip trades from pump.fun, the tokens that are not graduated yet.
Moonshot: Turn off this if you want to skip trades from Moonshot, the tokens that are not graduated yet.
Retry
In case of transaction fail the bot by default tries 6 times to execute a trade. If you prefer less retries you can set up to 6 retries from the custom field. the failed trade can be either executed with the same slippage and fee configuration in every retry or with incremental steps for the slippage and fee.
Retry with increased slippage: For every retry, the slippage is increased by a specified multiplier to improve the chances of successful execution.
Retry with increased priority fee: For every retry, the priority fee is increased by a specified multiplier to enhance the likelihood of the transaction being accepted on the blockchain.
Retry with increased Jito tip: For every retry, the Jito tip is increased by a specified multiplier, improving the chances of the transaction being successfully processed on the blockchain.
Retry with Hybrid: When Hybrid mode is enabled, retries alternate between sending transactions with and without Jito protection.
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