An in-depth look at the most advanced DeFi copy trading platform.
Introduction
In the dynamic world of decentralized finance (DeFi), trading strategies evolve rapidly, and staying ahead of the curve becomes a constant challenge. MoonBot, renowned for its speed, security, and versatility, offers a game-changing feature that allows you to copy successful traders — or even stay one step ahead!
Meet: MoonBot’s Copy Trading feature. In this comprehensive guide, we’ll walk you through the process of harnessing the most advanced and customizable DeFi copy trading platform on the market.
How to Find a Wallet to Copy Trade
The first step on your journey into the realm of copy trading is selecting a wallet to mirror the trades of an experienced trader. Wallet addresses can be found by analyzing activity displayed on Etherscan.io and cryptocurrency trackers such as Dextools.io. Identify a trader whose strategies align with your goals and risk tolerance. Team MoonBot is unfortunately unable to give you any advice as to which wallets to copy. However, this can be freely discussed by community members in our MoonBot Alpha group on Telegram.
Setting Up MoonBot to Copy Trade
Before attempting to copy trade someone, make sure you’ve successfully created or imported a wallet in MoonBot and funded it with ETH.
In order to access MoonBot’s Copy Trading feature, open up your Telegram chat with MoonBot. In the main screen, click “Copytrade”. Then, click “Add Wallet or Contract”. Give a name to the wallet you wish to copy (maximum 8 letters), and then paste the wallet address you wish to copy.
Now, it’s time to review the advanced settings, which will let you fine-tune MoonBot Copy Trading to your desired risk tolerance! We recommend you to start small and simple. Do not attempt frontrunning right at the beginning; first just ensure MoonBot is set up correctly and that MoonBot is giving you notifications about your target wallet’s trades.
Advanced Copy Trading Settings
Click the button with the target wallet name and the gear icon ⚙️ to access advanced settings. The following settings offer customization and flexibility:
Strict Mempool Buys/Sells: Choose whether to copy private transactions or not. Keeping this switched off enables MoonBot to copytrade private transactions after they are written on the blockchain — but you will not be able to frontrun them. Keeping this switched on means MoonBot will only copy trade transactions that are placed publicly on the Mempool before they are written on the blockchain, which allows you to frontrun your target wallet.
Custom Amount Multiplier Range Min: Define the minimum amount that must be bought with a custom amount multiplier for a trade to proceed. For example: Your target wallet buys 0.1 ETH worth of a token. You’ve set your Custom Amount Multiplier Range at 0.1:1, meaning that in this case, you would only buy 0.01 ETH of the token. But if your Custom Amount Multiplier Range Min is set at 0.02 ETH with this setting, the transaction does not go through.
Custom Amount Multiplier Range Max: Define the maximum amount that must be bought with a custom amount multiplier for a trade to proceed. Similar to the scenario outlined above, assuming you’ve set a 0.1:1 multiplier. But if your Custom Amount Multiplier Range Max is set at 1 ETH, while the copied wallet buys 20 ETH of the token, the transaction does not go through.
Custom Amount Multiplier Range: This allows you to set the ratio for the multiplier, in other words, determine what percentage of your target wallet’s trades you wish to replicate using MoonBot Copy Trading. For example: If you’ve set the range at 10% and your target wallet sells 2 ETH worth of a token, MoonBot will sell 0.2 ETH worth of your holdings in this specific token, assuming you’ve already used MoonBot to buy this token, either by copy trading or by swapping the token yourself.
Min Original ETH: Specify the minimum original trade size executed by the target wallet for MoonBot to replicate. If you set this at 0.5 ETH, but the target wallet buys only 0.1 ETH worth of a token, their trade will not be copied.
Max Original ETH: As with the minimum setting above, Max Original ETH allows you to specify the maximum original trade size executed by the target wallet for MoonBot to replicate. If you set this at 1 ETH, but the target wallet buys 2 ETH worth of a token, their trade will not be copied.
Custom Max ETH: This setting allows you to decide the maximum amount of ETH to spend on any transaction made by MoonBot Copy Trader. If your target wallet buys 5 ETH worth of a token, while your Custom Max ETH setting is 1 ETH, then MoonBot will not copy this trade.
MoonBot Copy Trading’s custom settings are essential to proper risk management. To ensure that your copy trades align with your appetite for risk and your strategy, take some time to think about your perfect settings and feel free to discuss them with other users in our MoonBot Alpha Telegram group.
Sit Back and Relax
When you’ve found a good target wallet and fine-tuned your copy trading settings, you are ready for action. Copy trading offers a seamless way to benefit from the expertise of experienced traders. So now just sit back, relax, and wait for your target wallet to place a trade. What happens next is the magic of MoonBot!
Risk Disclaimer
Before getting started with copy trading, it is essential to understand and acknowledge the inherent risks involved. Technologically advanced crypto traders can deploy strategies that may result in losses and negative consequences for whoever is copying them. Additionally, the success of users copy trading with MoonBot depends on the copied trader’s expertise and their continued activity. While MoonBot provides a powerful tool, success is not guaranteed. It is crucial to thoroughly understand and evaluate all risks before engaging in copy trading activities.
Conclusion
MoonBot’s Copy Trading feature stands out as the most advanced and customizable DeFi copy trading tool on the market. Seamlessly integrating advanced customization with user-friendly risk tolerance settings, MoonBot brings you access to an entirely new level of crypto trading. Take the plunge and try MoonBot Copy Trading, where success may be just a copy away.
