Quick Start Copy Trading Guide

If you're looking to start copy trading with Cielo, here's a quick start guide that covers the essentials:

Set Up and Secure Your Wallet

• Create or connect a Solana wallet (e.g., Phantom, Solflare, Backpack).

• Safeguard your recovery phrase and enable additional security features.

Fund Your Wallet

• Make sure you have enough SOL for trading, fees, and token account rent.

• Double-check your balance before starting.

Connect Your Wallet to Cielo

• Visit the official Cielo platform.

• Connect your wallet securely and verify the connection.

Research and Select Lead Traders

• Explore potential traders or bots by reviewing their performance, strategy, and trading history.

• Use Cielo’s metrics and analytics to compare potential targets.

Bot Selection

• 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).

Review and Adjust Bot/Copy Settings

• Set trade size, frequency, and risk parameters according to your comfort level.

• Limit the number of wallets you copy to avoid overexposure.

Develop a Copy Trading Strategy

• Decide if you want to diversify (follow multiple wallets) or focus on a single strategy.

• Set clear goals and expectations for your copy trading.

Implement Risk Management

• 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.

Monitor Performance Regularly

• 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.

Clean Up and Optimize

• Periodically close unused token accounts to reclaim rent.

• Review your portfolio for unwanted tokens or excessive exposure.

Consult the Glossary

• Refer to the glossary for any unfamiliar terms or concepts.