The research phase
The research phase:
The easy way: Get wallets from dEdge - Wallet Finder, Curated Wallets, Filtered Wallets and the Weekly List
The hard way: Get Top Traders wallets from DexScreener and scan them with dEdge
Be careful with other tools you find out there (most of the data isn't reliable and/or isn't enough to assess if the wallet is good for copy trading)
Look for reliable wallets. With at least a couple trades to prove they've been doing good.
Avoid wallets that made huge profits in a small percent of his trades - this likely won't happen again
You want wallets that gains with consistency
Normally a higher win rate with smaller wins or a lower win rate with some bigger wins - but nothing exaggerated
Avoid low trading delta wallets (high frequency traders)
Most of the wallets for copy trading won't look perfect - they will look just good and that's enough
See the wallet last trades to see graphically how they trade (there's a guide to it on Avoiding Snipers & HFT section)
Don't be too picky. But be confident about what to not tolerate. Don't lower your standards to increase trading frequency. Opportunities will always arise, but lost money is hard to recover.
Most of the time you are looking for red flags to exclude the wallet. If you can't find any, it might be good to copy.
With some experience in your operation, you will spot red flags faster.
Create a to-do list when analyzing wallets. Add steps to it as you learn.
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