Meme Coin Trading Journey Continues

Oct 17, 2024

Trading Solana Meme Coins Challenge: Episode 2

Introduction

  • Goal: Start with 1 Solana and reach 1 million dollars trading meme coins.
  • Rules:
    1. Trade with the entire balance each time.
    2. Cannot sell until a 2x profit or a loss is hit.
  • Trades are shared live on Telegram for transparency.
  • Wallet address is shared in the video.

Previous Episode Recap

  • Started with 1 Solana, reached up to 4.5 Solana.
  • Ended at 3 Solana after hitting stop loss on PepeBoost.

Trading Tools and Strategy

  • PepeBoost: A trading bot with limit orders, usable on multiple devices.
  • Wallet Tracker: Alerts for trades from specific wallets.
  • Photon: Trading bot/platform to filter tokens by criteria like market cap and volume.

Current Trading Strategy

  • Focus on community takeover tokens or reputable developers.
  • Example: Considering buying Ansem Pepe, but waiting for a price dip.

Evaluating Tokens

  • Criteria:
    • Developer trustworthiness.
    • Market cap and trading volume.
    • Community engagement (e.g., Telegram and Twitter activity).
  • Specific Tokens Discussed:
    • Ansem Pepe: Influencer-related; potential short trade.
    • Andrew Tate Coin: 15k market cap, cautious due to low engagement.

Missed Opportunity: R.I.P Jerry West

  • Token spiked from 9k to 64k market cap rapidly.
  • Missed potential 6x gain.
  • Lesson: Importance of timely research and reaction.

Successful Trade

  • Mitch's Influence: Bought a coin after Mitch (an influencer) purchased.
  • Initial investment: Nearly 3 Solana.
  • Outcome: Sold at 11 Solana for a solid 2x+ profit.
  • Current balance increased to 23 Solana.

Future Plans

  • Avoiding pump fun plays with large Solana amounts due to volatility.
  • Focus on more stable, researched plays and insider tips.
  • Objective: Reach $1 million by doubling current holdings.
  • Announcements and updates will continue on Telegram.

Conclusion

  • Current standing at 23 Solana from 1 Solana.
  • Plans to proceed with caution while seeking high-reward trades.
  • Encouragement to join Telegram for live updates and transparency.
  • Watch for the next episode for more updates.