Fastest Solana Copy Trading Bot - OdinBot
  • 👁️OdinBot - The most powerful copy-trading platform on Solana
  • SETUP & INITIALIZATION
    • ⚡1. What is OdinBot and how does it work?
    • 🧙2. What Makes OdinBot different from other Solana copy-trading bots?
    • ❓3. How to start using OdinBot
    • ⚙️4. OdinBot's Controls
      • 4.1 Auto-Sell Profiles
  • FAQs
    • 🤝5. Affiliate Program
    • ⁉️6. Frequently Asked Questions
      • 📏What are the optimal settings to start with?
      • What's the difference in speed tiers and which one to choose?
      • What are the safety features of OdinBot?
      • How many wallets can I mirror?
      • How much does OdinBot charge for its services?
      • What metrics should I look for in mirror wallets worth copy trading?
      • What's the Pump.fun slippage and how to configure it?
      • What's the use of extra tips if we can just change the speed?
      • What does Cross-mirror Trading Prevention do?
      • What happens to open positions if I unfollow a wallet?
      • Can I manually exit positions, and if so, can I scale out vs liquidating a position entirely?
      • I copied a trade that showed X amount of profit, so why is my trade at a loss?
      • Why did I buy the same token twice even though my limit is set to 1?
      • How to Generate a PnL Card in OdinBot?
      • How can I export my Private Key?
      • Why is PnL pricing data incorrect/not updating?
    • 7. Most common issues with OdinBot not mirroring
      • Pump.fun transactions failing due to slippage
      • Odinbot's price protection prevented execution of the trade
      • Auto-Sell Profile not triggering
    • 8. Odin's Alpha - Potential wallets to mirror
  • Tracking Academy
    • Trading Strategies
      • Risk Management and Trade Strategies - charlespurrgeon
      • The 9 Critical Copy-Trading Mistakes to Avoid - Vic
      • Why Liquidity Matters in Copy-Trading
      • How to Choose Wallets for Copy-Trading - atomic_rasta
      • Investigating Wallets for Copy-Trading - vect
      • The Hidden Pitfalls of Copy-Trading: A Guide to Smarter Strategies - Vic
      • Pump.fun Explained: A Guide to Copy-Trading Success - Vic
      • Start Small and Build Up: A Beginner's Guide to Copy-Trading with OdinBot
      • A Coin Flip Tactic for Copy-Trading
      • How to Reverse ChangeNow & SimpleSwap.io Transactions - Vic
      • How to Find Early Buyers Using Dexscreener - Vic
      • How to Spot a Great Wallet for Copy-Trading - Vic
      • Looking Beyond Numbers: Behavioral Wallet Analysis - Vic
      • Pump.fun 101: Wallets, Analysis and Insights - Vic
      • Copy-Trading 101: Building a Profitable Strategy with OdinBot
    • Tools
      • For Finding Wallets
        • OdinBot's Discord Server
        • Dune Dashboard
        • GMGN for Wallet Discovery
        • Using DEX Platforms
        • Cielo Finance for Wallet Analysis
        • Solscan for in-depth Analysis
      • For Monitoring Wallets
    • Types of Wallets: Understanding Their Roles in Copy-Trading
    • Wallets to Avoid When Copy-Trading
    • Understanding Pump.fun Bonding Curve and the Copy-Trading Limitation
    • Reclaiming SOL From Rent
    • How to Look at Your Fees
  • Brand Guidelines & Assets
    • 👁️Vision
    • 📐Guidelines
    • 🅾️Logo
    • 🖼️Graphics
    • 🔠Typography
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On this page
  • 1. Wallets That Trade Low-Liquidity Tokens
  • Why Avoid Copying These Wallets?
  • 2. MEV and Arbitrage Bots
  • Why Avoid Copying These Wallets?
  • How to Spot an MEV Bot:
  • 3. “Farmer” Wallets
  • How Farmer Wallets Operate:
  • Signs of Farmer Wallets:
  • Why It’s Risky to Copy Farmer Wallets:
  • 4. Wallets Trading Frozen Tokens
  • How to Identify Frozen Tokens:
  • OdinBot’s Built-in Safeguards

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  1. Tracking Academy

Wallets to Avoid When Copy-Trading

Content provided by Odin's team

PreviousTypes of Wallets: Understanding Their Roles in Copy-TradingNextUnderstanding Pump.fun Bonding Curve and the Copy-Trading Limitation

Last updated 1 month ago

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1. Wallets That Trade Low-Liquidity Tokens

Low-liquidity tokens often have small trading volumes, making them prone to price manipulation and significant slippage. These trades tend to lack strong conviction, resembling gambling more than strategy.

Why Avoid Copying These Wallets?

  • Poor Entry Positions: The larger the buy size of the mirrored wallet, the worse position the copy-trader ends up with, as large trades can significantly move the price.

  • High Slippage: The price you receive may be drastically worse than the mirrored wallet’s.

  • Loss Cycles: Frequent impulsive trades can spiral into unnecessary losses.

Tip: Stick to wallets trading tokens with healthy liquidity and consistent trading activity to minimize risks.

2. MEV and Arbitrage Bots

MEV (Maximum Extractable Value) and arbitrage bots operate by exploiting price inefficiencies and transaction ordering. They often execute both buy and sell transactions within the same block. This makes them impossible to effectively copy-trade, as their strategies rely on precise timing that cannot be mirrored.

Why Avoid Copying These Wallets?

  • Their success depends on near-instantaneous execution, which isn’t feasible for copy-traders.

  • Copying them often results in poor fills or trades executed too late to profit.

How to Spot an MEV Bot:

MEV bots have a lot of transactions per token and in general.

  • Look for high-frequency trades through tools like Solscan.

  • Use wallet analyzers like Walletx or Cielo, which tag wallets based on behaviour and strategies.

  • GMGN makes identifying MEV wallets straightforward by displaying key statistics, including 30-day buy and sell transactions, prominently at the top of each wallet's profile.

Examples of MEV wallets:

  1. 2UkKU23eihesGRprc93yWR1CbgymmuBpSzDGw6wxMUgj

  1. 3XKT1VMehkezX4PzBa8N7PiZ8YXKZfXvnB14L6DVxd34

  1. 3XMWMUibUbGVeudLKC11cjGf7vJspQUtV4R96kH5Zg1N

3. “Farmer” Wallets

Farmer wallets are traders who exploit copy-traders by artificially inflating demand for a token and quickly exiting their positions. These wallets engage in a high-frequency buy-and-sell strategy that takes advantage of the delay in execution for copy-traders. As a result, you end up buying tokens at peak prices, only to face immediate losses when the farmer wallet dumps their holdings.

Most farmers target Pump.fun tokens because of their volatility and ease of manipulation. To avoid being exploited, it’s recommended to disable copying Pump.fun trades in OdinBot settings.

How Farmer Wallets Operate:

  1. Initial Buy: A farmer wallet makes a large, visible purchase of a low-liquidity token. This causes the token’s price to spike, attracting copy-traders who mirror the transaction.

  2. Immediate Sell: Moments later, the wallet dumps the token for a profit, leaving the copy-traders stuck with overpriced tokens and no chance to exit profitably.

Signs of Farmer Wallets:

  • Rapid Trading Activity: Trades occur within seconds or minutes, often involving large initial buys followed by equally large sells.

  • Unusual Price Spikes: Tokens experience sudden price surges coinciding with the wallet’s trades.

  • High Turnover: The wallet rarely holds tokens for more than a few seconds or minutes.

Example 1:

A farmer wallet buys 1,000 units of a low-liquidity token for $1 each. This purchase increases the token’s price to $1.50 due to limited supply. Copy-traders, seeing the spike, mirror the buy at $1.50. Seconds later, the farmer wallet sells their tokens at $1.50, taking the profit while the price crashes back to $1 or lower.

Example 2:

A wallet repeatedly trades the same token multiple times in an hour, with each buy causing a brief price increase followed by a sharp drop after the sell. Copy-traders attempting to follow these trades end up accumulating losses from repeated bad fills.

Why It’s Risky to Copy Farmer Wallets:

  • Their trades are not based on long-term strategies but rather on exploiting short-term demand surges.

  • Copy-traders often experience negative slippage (buying at a higher price than the farmer wallet) and are unable to exit in time.

Tip: Focus on wallets with deliberate, calculated trading strategies. Look for consistent holding periods, lower trading frequencies, and trades aligned with broader market trends rather than sudden, isolated price movements.

4. Wallets Trading Frozen Tokens

Frozen tokens are assets temporarily locked from transfers or sales. Copying trades involving these tokens can lead to illiquid positions where exiting is impossible.

How to Identify Frozen Tokens:

  • Review the token’s metadata using blockchain explorers like Solscan. Most trading platforms nowadays show this information in the “audit tab”.

Example of a token where the authority can freeze every token from being transferred:

Example of the same token on GMGN:

OdinBot’s Built-in Safeguards

OdinBot includes features to protect copy-traders:

  1. Blocks Trades on Frozen Tokens: Ensures you’re not stuck with illiquid assets.

  2. Price Protection: Prevents trades from being executed at much worse prices than the mirrored wallet's, ensuring fair pricing and minimizing excessive slippage.

  3. MEV Protection: Configurable settings to balance speed and safety.

    • Fastest: Prioritizes speed over protection.

    • Balanced: A mix of speed and defense.

    • Protected: Maximizes safety but slows execution.

  4. Cross-Mirror Trading Prevention: Ensures each mirrored wallet operates independently, avoiding conflicts between trading strategies.

By understanding these risks and leveraging OdinBot’s control settings, you can enhance your copy-trading strategy and minimize potential losses.

What are the safety features of OdinBot?
⚙️4. OdinBot's Controls
What are the safety features of OdinBot?
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https://solscan.io/token/3WzUoH1gXuKdNP5PwVLsjiq1RB4da8g8jNejSZF4Kn8Nsolscan.io