WALLET BOT
Learn how to copy trade a wallet
Last updated
Learn how to copy trade a wallet
Last updated
Mizar allows you to replicate other traders' wallets and engage in trading as they do, all with just a few clicks.
To set-up your Wallet copy-trading bot, go here.
Ensure you have sufficient funds to open new trades; otherwise, your bot will be automatically paused and signals will be ignored.
In this section you can configure the main bot settings.
Give a name to your bot
Max N. of Trades
This represents the maximum limit on the number of concurrent trades that the bot can open. For exampe, if you set this parameter at 10, the bot will be able to open up to 10 snipes at a single point in time. If 10 snipes are active, any additional calls will go unfulfilled. It's essential to ensure that your wallet maintains a sufficient balance to cover both the overall investment and associated gas fees.
Copy Trading Wallet
This is the wallet address you'll be mirroring. By default, all buy swaps will be replicated. Make sure the wallet address is trading on the selected chain.
These settings are the same as described in the trade section here.
Order type
A market order executes immediately, ensuring the fastest possible entry. However, it may be challenging to match the exact price of the copied wallet due to slippage, as you buy or sell after the wallet. A limit order, on the other hand, executes only when the entry price of the copied wallet is reached. This approach offers better price precision but carries the risk of missing the trade if the price level is not reached.
Auto Copy Sell
Enabling this option will result in the copy trade of sell swaps. If any of your trading settings conflict with the sell swaps, such as your take profit or stop loss settings, the swap will be carried out based on the lower threshold. For instance, if the wallet you're copying sells with a 20% profit while your take profit is set at 50%, your sale will occur at 20% PnL. Conversely, if your take profit is configured at 20% and your wallet sells at 50%, your take profit will activate, and you will sell at 20%.
First Time Buy Only
Enable this option to copy trades only when the trader is buying a token that isn't already in their wallet. This prevents entering in the middle of a DCA (Dollar-Cost Averaging) strategy
Copy Buy Amount
Enable this option to buy a percentage (from 5% to 1,000%) of the amount purchased by the wallet you're copying. The maximum limit is capped to the amount definedin the trading settings.
Copy Buy More
Enable this option to buy more if the wallet you're copying is buying more. This strategy helps you DCA to reduce the entry price if the price goes down, or to keep following the trend if the price goes up. The size of each additional buy is the same as the initial buy amount.
