😇Best Practices

When engaging in the most speculative financial asset currently available, via a complex web based application serving intricate scripts, there are some specific concepts that you should be aware of.

Position sizing:

This is the single largest determinant of success in the world of cryptocurrency. Small position sizing is recommended when this product is in it's infancy. The copy trading bot has no minimum, but the X sniper mandates one Solana minimum.

Slippage:

Generally, slippage of <5% is sufficient for copy trading. With the X sniper, because of the likely influx of buy pressure from Social Media, higher slippage will be required for you to enter the pair in a reasonable manner. There is a trade off without a perfect answer: transactions failing because of insufficient slippage acceptance and the amount of times the trade must be retried.

Transaction Retries:

Similar to above, low retries should be sufficient for copy trading. However, X sniping transactions could fail because of the intense volatility of the token launch. More retries will increase the likelihood that you get in eventually. The risk here is that the user gets in relatively late as a function of slippage that is too low causing the transaction to fail.

Stop Loss Information:

The trailing stop loss operates on intermittently calculating the dollar denominated value of the position. It is important to note that this calculation is not done second by second.