Quick Start Copy Trading Guide
Last updated
Last updated
If you're looking to start copy trading with Cielo, here's a quick start guide that covers the essentials:
Create or connect a Solana wallet (e.g., Phantom, Solflare, Backpack).
Safeguard your recovery phrase and enable additional security features.
Make sure you have enough SOL for trading, fees, and token account rent.
Double-check your balance before starting.
Visit the official Cielo .
Connect your wallet securely and verify the connection.
Explore potential traders or bots by reviewing their performance, strategy, and trading history.
Use Cielo’s metrics and analytics to compare potential targets.
Carefully go through all your options when it comes to selecting a bot. Find out their execution speed, accuracy, and user base.
Check their fee structures (subscription, performance, per-trade fees).
Set trade size, frequency, and risk parameters according to your comfort level.
Limit the number of wallets you copy to avoid overexposure.
Decide if you want to diversify (follow multiple wallets) or focus on a single strategy.
Set clear goals and expectations for your copy trading.
Allocate only what you can afford to lose.
Monitor your maximum allocation per wallet, token, or strategy.
Set stop-loss or pause conditions if available.
Track ROI, win/loss ratio, and compare your results to successful traders.
Watch for missed trades or errors in execution logs.
Adjust your strategy and settings as needed.
Periodically close unused token accounts to reclaim rent.
Review your portfolio for unwanted tokens or excessive exposure.
Refer to the glossary for any unfamiliar terms or concepts.