What metrics should I look for in mirror wallets worth copy trading?
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Average ROI: This indicates a wallet’s profitability over time. High Avg ROI with consistent gains is ideal, but verify that gains come from multiple trades rather than one-off successes.
Number of Trades: Consistency in trading suggests active management, and a higher trade count reflects frequent participation and liquidity.
Last Trade Taken: A recent trade signals that the wallet is actively managed. Look for wallets with recent activities to ensure they reflect current market conditions.
Recent Transactions: Analyze recent buys/sells to understand the types of tokens traded, whether the wallet is diversifying, and how frequently trades occur.
Win Rate: This metric shows how often trades result in a profit. Wallets with a win rate above 60-70% generally indicate skilled, risk-managed trading.
Trade Distribution: Diversification in trade distribution across tokens and sectors is a positive sign, as it spreads risk.
Trade Frequency: High-frequency trading often indicates an experienced, active trader. Low-frequency trading might suggest a less responsive strategy, which may not align with volatile crypto markets.
Multiple Take Profits: Wallets that use incremental selling to lock in gains reflect a cautious, profit-maximizing approach. Look for this trait to ensure the wallet employs smart risk management.