Recommendations
Solana Copy Trading Setup
When copy trading on Solana, setting appropriate gas fees and slippage is key to ensuring trades are executed quickly and accurately. Here are some best practices:
1. Slippage Settings
Typical Slippage: Start with a slippage setting of 10-20%. Solana’s low fees and fast processing generally allow for lower slippage compared to Ethereum, making trades more cost-effective.
Higher Slippage for Fast Markets: If you’re copying a wallet that trades in highly volatile markets, or during times of increased activity, set slippage around 20-35% to avoid transaction failures. This allows some flexibility without risking excessive price impact.
If your copy trades fail due to slippage, you can always increase them by a small amount.
2. Priority Tips
Standard Tip: Solana’s network is designed for low fees, so default gas settings are usually sufficient. Most copy trading does not require a high gas fee, unlike Ethereum.
Priority Tip: A small gas tip of around 0.01 SOL is a good practice to prioritize transactions during peak activity times. This small tip helps secure timely execution without significantly increasing costs.
Avoid High Tips: High gas fees are generally unnecessary for copy trading on Solana. Stick with moderate tips, as overspending on gas may lead to unnecessary expenses without a corresponding increase in speed due to Solana’s efficient transaction processing. You should never need to go above 0.075 SOL.
3. Additional Copy Trading Tip
Limit your maximum investment per trade to control risk. For instance, setting a limits on your trades ensures you won’t overexpose your account, especially if the copied wallet makes large purchases.
Summary
Copy Trading
5-10% (typical), 10-25% (for competetive trades)
0.01 SOL (standard), 0.075 SOL (if you want to be really fast)
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