Copy trading allows you to automatically replicate trades from high-performing wallets while maintaining control over your strategy. This guide covers both Simple and Advanced modes, helping you optimize settings for your risk profile.
How Copy Trading Works
Bitfoot's copy trading feature mirrors swaps from selected wallets proportionally, using your specified SOL amount. Key benefits include:
- Strategy diversification – Follow experienced traders
- Time efficiency – Automated trade execution
- Customizable risk parameters – Control exposure per trade
Getting Started: Two Copy Trading Modes
1. Simple Copy Trade Mode
Ideal for beginners, this mode uses default settings with fixed trade amounts.
Wallet Setup:
- Click Add Wallet
- Name your target wallet
- Enter the wallet address
- Confirm setup
Trade Configuration:
- Set fixed SOL amount per trade
- Enable/disable copy buys/sells
- Monitor via notifications
2. Advanced Copy Trade Mode
For experienced users requiring granular control.
Key Features:
- Adjustable SOL multiplier ranges
- Custom slippage settings
- Liquidity thresholds
- Position size limits
Optimizing Your Copy Trade Settings
Critical Parameters:
| Setting | Recommended Value | Purpose |
|---|---|---|
| Slippage | 30-35% | Smooth transactions |
| Priority Fee | 0.001 SOL | Faster confirmations |
| Min Liquidity | 5 SOL | Avoid illiquid pools |
| Max Token Allocation | 10-15% | Portfolio diversification |
Pro Tips:
- Start with small amounts to test strategies
- Regularly review followed wallets' performance
- Adjust multipliers based on market volatility
Advanced Configuration Explained
Amount Multipliers
- Range Min: 0.5x (conservative)
- Range Max: 2x (aggressive)
Risk Controls:
- Max SOL/tx: Limits capital exposure
- Same Token Limit: Prevents over-concentration
- Slippage Tolerance: Balances speed vs. price accuracy
Supported DEXs for Copy Trading
- Raydium (AMM/CLMM/CP)
- Orca (V2/Whirlpool)
- Meteora (DLM/Dynamic)
- PumpSwap/Pump.fun
- Moonshot
FAQs
How much SOL should I allocate to copy trading?
Start with 10-20% of your trading capital until you're comfortable with the strategy.
Can I copy multiple wallets simultaneously?
Yes, Bitfoot supports following multiple wallets with independent settings for each.
What happens if a copied wallet makes a huge trade?
Your copy trade will be proportionally scaled based on your set parameters and available funds.
How often should I review my copy trading settings?
We recommend weekly reviews and after major market movements.
Is there a way to blacklist certain tokens?
While no direct blacklist exists, you can set minimum liquidity requirements to avoid questionable tokens.