Start Small and Build Up: A Beginner's Guide to Copy-Trading with OdinBot

Content provided by Odin's team

When beginning with OdinBot, it is essential to adopt a cautious, well thought out strategy to maximize your chances of success. This guide provides a balanced approach to risk management, wallet selection, and trade settings to help you grow your portfolio effectively.

Initial Setup

Starting Balance

• Recommended Starting Amount: At least 0.5 SOL.

• While you can start with 0.2 SOL, this leaves little room for error. With 0.5 SOL, you have at least five trade opportunities at 0.1 SOL per trade before running out of funds.

Trade Size and Speed

• Set trade size to 0.1 SOL.

• Use the Standard Speed Tier to minimize expenses.

  • Higher speed tiers are unnecessary for beginners and can quickly eat into your funds due to higher fees.

Buy Limits

• Suggested Buys Per Hour: Limit to 2 per hour.

• Maximum Buys Per Day: Limit to 3 per day.

This approach enables quicker evaluation of wallet performance while managing risks effectively.

Number of Mirrors

• Recommended: Start with 1-2 mirrors if you are not monitoring trades actively.

• Experienced Users: Can consider up to 10 mirrors if carefully selected and monitored.

Key Principles

Avoid Gambling

• The goal is not to gamble but to gradually build your portfolio. Success in copy-trading requires patience and discipline.

Risk Management

• Avoid "all-in" approaches. Start small and spread out your trades.

  • Example: With 0.5 SOL, you have five chances to recover from potential losses versus only one chance if starting with 0.2 SOL.

Diversify

• Mirror multiple wallets to spread risk and increase potential returns.

Trade Configuration

Pump.fun Trades

While avoiding Pump.fun trades entirely might seem like a safe option, it could limit opportunities. Many high-performing wallets trade on Pump.fun, and understanding how to navigate these trades is key to success. Instead, focus on filtering out risky trades:

• Avoid wallets that consistently execute trades with gains below 2-5%, as these are likely farming wallets or low-percentage scalpers.

  • Example: A wallet making dozens of trades daily, each earning less than 1%, is often exploiting copy-traders.

• Prioritize wallets with longer average hold times, such as 5 minutes or more, to avoid bots that sell instantly for marginal gains.

  • Example: A wallet holding positions for at least 10 minutes before selling often signals genuine trading behavior.

• Review trade patterns using tools like Solscan or Dexscreener to identify consistent strategies.

Types of Wallets: Understanding Their Roles in Copy-Trading

Auto-Sell Profiles

Setting up Auto-Sell Profiles ensures a well-defined and strategic exit plan:

Example Profile:

• Take Profit: Sell 100% of holdings at 50% gain.

• Stop Loss: Sell 100% of holdings at -50% loss.

If your mirrored wallet frequently trades tokens that spike 30-40% immediately after purchase but then drop sharply, consider using a smaller Take Profit target to secure gains before the decline.

Parameter	Value
Trade Size	0.1 SOL
Speed Tier	Standard
Buys Per Hour	2
Max Buys Per Day	3
Take Profit	+50% (100% sell) or +30-40%
Stop Loss	-50% (100% sell)

Wallet Selection

Ideal Mirror Wallets

• Low Trading Frequency: 5-10 trades per day.

• Holding Duration: Holds tokens for at least 10 minutes rather than selling immediately.

Avoid High-Volume Traders

• Mirrors executing 50+ trades per day can lead to higher expenses and riskier trades.

Wallets to Avoid When Copy-Trading

Final Thoughts

Starting small and building up is not just a strategy; it is a mindset. This approach minimizes risks and sets a solid foundation for sustainable growth. Remember, copy-trading is a marathon, not a sprint. Regularly review your strategies, adapt to market conditions, and focus on wallet rotation and management for long-term success.

By applying these principles, you will be better prepared to navigate OdinBot and thrive in the world of copy-trading.