Lecture on Wallet Tracking for Solana Meme Coins

Introduction to Wallet Tracking

• Importance in Trading: Critical for trading Solana meme coins.
• Tool Used: Ray (a Telegram bot for wallet tracking).
  • Subscription: Costs 0.4 Solana monthly for more wallets and a dedicated bot.
  • Free Version: Available for beginners.

What is Wallet Tracking?

• Definition: Following movements of a Solana address.
• Activities Monitored:
  • Token purchases
  • Sales
  • Market cap changes
  • Transfers
  • Minting or burning of coins
• Focus: Primarily on what coins are bought and when they are sold.

Difference from Copy Trading

• Wallet Tracking: Observing and making independent trading decisions.
• Copy Trading: Automatically replicating trades (buy/sell) of tracked wallets.
• Recommendation: Avoid copy trading; learn to trade independently.

Benefits of Wallet Tracking

• Access to information about successful wallets.
• Potentially discover insider information inadvertently.
• Making informed decisions based on successful traders.

Methods to Find Wallets to Track

Method 1: GMGN Discover

• Platform: GMGN (similar to Bullix, Photon).
• Features: Discover feature dividing wallets into categories like "Pump Fund," "Smart Money," etc.
• Process:
  • Select wallet categories based on trading style.
  • Example: "Pump Fund Smart Money" for high-profit wallets.
  • Filter by metrics (e.g., 7-day PNL, win rate).
  • Use Cielo for more accurate PNL data.

Method 2: Top Traders on a Coin

• Find: Coins that have performed well recently.
• Analyze: Top traders who gained significantly without large investments.
• Process:
  • Look for significant return on small investments.
  • Use Cielo to check consistency of wallet performance.
  • Evaluate if the wallet is worth tracking.

Method 3: Twitter PNL Cards

• Monitoring: Bookmark high PNL Twitter posts to investigate later.
• Verification: Match posted PNL with top traders on trading platforms.
• Outcome:
  • Verify consistency and profitability of traders.
  • Check if PNL postings match actual wallet performance.

Practical Application of Wallet Tracking

• Example Trade:
  • Initial hesitation due to technical issues.
  • Observing wallet activities like "Cupsy" and "Orangey."
  • Decision to buy based on observed wallet activities and social media cues.
• Outcome:
  • Successful trade with profits.
  • Importance of combining personal judgment with tracking insights.

Conclusion

• Overall Strategy: Wallet tracking is a powerful tool for gaining insights and making informed trading decisions.
• Final Thoughts: Use wallet tracking alongside personal analysis to maximize trading potential.