How To DCA (Dollar Cost Average) To Any Solana Token With Torjan (old UniBot on Solana)
Whether it is a meme coin or any other token on Solana, DCA (Dollar Cost averaging) is an important tool to have in your trading toolset. Currently, the DEX tools available for Solana are mediocre at best. Trades with JUP, Raydium or Orca are laggy, don’t go through and DCA options are not available (except with JUP).
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In this article I will show you how you can DCA into any token on Solana using Trojan (old UniBot on Solana). If you are interested in my in-depth review of Trojan (or want to read how to setup and fund a wallet to start trading), please read my Medium article here.
Benefits for using DCA orders
- Ignore the price action → easier to set motions aside when trading
- Automatic, no need to monitor trades, just set the parameters
- Better profit taking → DCA order forces you to take profit on set intervals and allows you to sell in small chucks easily, instead of selling in one transaction and jeeting the price and eating slippage
- Maximum and minimum prices → no need to worry about buying/selling too high/low
Creating a DCA order with Trojan
Dollar Cost Average order allows you set an automated buying (or selling) of any token on set intervals. You will set the amount of SOL to buy or sell, the interval when the bot buys and the duration of how long the bot will buy or sell. In addition to this you can set Minimum price and Maximum price for the given token.
Don’t have Trojan (old UniBot) yet? Access the trading bot here
You can find the DCA option on Trojan by pasting any contract address into chat:
Slippage = allowed slippage percentage for each DCA trade
X SOL = amount to buy/sell during each DCA swap
Interval = How often will the bot buy
Duration = how long will the bot buy
Min price = Minimum price the tokens needs to be at in order for the DCA swap to trigger
Max price = Maximum price the tokens needs to be at in order for the DCA swap to trigger
As an example, I could set a trade that will buy 1 SOL worth of $WIF every 10 minutes for the next hour, as long as the price is Above 4 dollars and below 3 dollars.
This feature comes in handy when doing swing trading on meme coins. Imagine you are in a situation where you want to buy a meme but only after a pullback of 30 %. But since you are a human you actually have to sleep sometimes (annoying, right?). Well set a DCA order and sleep like a baby. The bot will buy/sell if the conditions you set are fulfilled.
This feature is also great for taking profits. Yes I am talking to you, who is 10x on a meme coin and hoping it will do another 10x. TAKE PROFITS.
Also if you happen to hold a big % of the total supply, it is often best to spread you sells in order to not tank the price of the token.
DCA is an important feature which comes in handy especially when trading volatile meme coins. Start using Trojan’s DCA features today to up your trading game
Links for Trojan bot
- Website: https://trojan.app/
- Twitter: https://twitter.com/TrojanOnSolana
- Trading Bot (telegram): https://t.me/solana_trojanbot?start=r-samulik_590911
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