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Copy Trading Mode

Copy Trading allows you to automatically replicate the trades of successful Solana wallets. By monitoring the blockchain in real-time, BozoBot can detect when your chosen wallets buy or sell tokens and mirror those actions with your own wallet.

How Copy Trading Works​

  1. BozoBot continuously monitors the blockchain for transactions from your specified wallets
  2. When a target wallet buys a token, BozoBot performs the same buy with your wallet
  3. When a target wallet sells a token, BozoBot sells from your portfolio
  4. You can customize how closely you follow each wallet's actions through various settings

Key Benefits​

  • Learn from Experts: Follow strategies of successful traders in real-time
  • Portfolio Diversification: Copy multiple wallets to diversify your strategy
  • Time Efficiency: Trade 24/7 without constant monitoring
  • Customizable Risk Management: Set your own limits regardless of what the copied wallets are doing

Setting Up Copy Trading​

Step 1: Select Wallets to Copy​

The first step is identifying successful traders to copy. Look for wallets that:

  • Have a consistent trading history
  • Show profit across multiple tokens
  • Have a trading style that matches your risk appetite

Step 2: Configure Your .env File​

Set the following parameters in your .env file:

# Set the mode to copy trading
MODE=copytrade

# Add the wallets you want to copy (comma-separated)
COPY_TRADE_WALLETS=wallet1,wallet2,wallet3

# Time settings
COPY_TRADE_IGNORE_IF_LANDED_MORE_THAN_SECONDS=300
COPY_TRADE_PROCESS_SAME_TOKEN_EVERY_SECONDS=10

Step 3: Optional - Configure gRPC for Better Performance​

For the best performance with copy trading, set up a gRPC connection:

# Optional gRPC endpoint (for copy-trade)
GRPC_ENDPOINT=your_grpc_endpoint
GRPC_KEY=your_grpc_key

Using gRPC significantly reduces latency when monitoring wallets, giving you faster trade execution.

Advanced Configuration​

Trading Parameters​

# Amount to use per trade
QUOTE_AMOUNT=0.01

# Maximum number of concurrent positions
MAX_OPEN_POSITIONS=5

# How often to check price (in seconds)
CHECK_PRICE_INTERVAL_SECONDS=1

# Trading levels for auto sell/buy
TRADING_LEVELS=-30%:100%,40%:100%

Transaction Settings​

# TX Dispatcher: standard or jito or bloxroute
BUY_TRANSACTION_DISPATCHER=jito
SELL_TRANSACTION_DISPATCHER=jito

# Priority fees for all transaction types (in SOL)
BUY_PRIORITY_FEE=0.000123
SELL_PRIORITY_FEE=0.000123

Strategies for Successful Copy Trading​

1. Diversify Your Copied Wallets​

Don't rely on a single wallet. Different traders have different strategies and specialties:

  • Some excel at quick in-and-out trades
  • Others hold for longer periods
  • Some focus on specific types of tokens

By copying multiple wallets, you can create a more balanced portfolio.

2. Start with Small Amounts​

When first copying a new wallet, start with a small amount per trade until you understand their trading style.

3. Use Your Own Exit Strategies​

Set your own take profit and stop loss levels with the TRADING_LEVELS parameter. Just because a trader you're copying holds during a downturn doesn't mean you have to.

4. Monitor Performance Regularly​

Not all traders remain successful indefinitely. Regularly review the performance of wallets you're copying and adjust accordingly.

Limitations and Considerations​

  • Slippage: Your trades may execute at slightly different prices than the original trader
  • Transaction Timing: There's always a small delay between the original trade and your copy
  • MEV Risk: Consider using MEV protection for larger trades
  • Token Verification: BozoBot does basic verification, but always monitor for unusual tokens

Finding Wallets to Copy​

Here are some methods to find successful wallets:

  • Monitor dune.com dashboards for top traders
  • Follow trading communities that share wallet addresses
  • Use blockchain explorers to find wallets with consistent profits

Remember that past performance is not a guarantee of future success, so always implement proper risk management.