SolTradingBot — Full Guide and Review
SolTradingBot is a groundbreaking Telegram bot to redefine the way we navigate and execute trades in on the Solana blockchain. This article serves as a comprehensive guide to SolTradingBot, detailing its architecture, features, and the innovative solutions it brings to the ever-evolving world of telegram bot trading.
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Key features of SolTradingBot
- Triple DEX integration → SolTradingBot takes decentralized trading to the next level by seamlessly integrating with three of Solana’s powerhouse decentralized exchanges (DEX): Jupiter, Orca, and Radium
- Market Data Analysis → a sophisticated engine that empowers users with real-time insights into the dynamic world of decentralized finance. It goes beyond simple data presentation, providing a comprehensive suite of tools to interpret trends, analyze price movements, and identify potential trading opportunities.
- Normal swaps → easily trade any token on Solana through basic swaps
- WSOL sniper → In the traditional sniping process, the Bot transfers SOL to WSOL before executing a snipe. However, with the WSOL Sniper feature, SolTradingBot skips this intermediate step. Instead, it utilizes WSOL directly for sniping and reserves SOL for transaction fees. This optimization not only accelerates the sniping process but also increases the likelihood of success.
- Copy-trading → SolTradingBot introduces an innovative Copy Trading feature designed to enhance the trading experience for users, especially those who are new to decentralized finance or prefer a hands-off approach to trading.
- Limit orders and DCA orders → Whether you’re looking to buy or sell assets at specific price points or gradually invest a fixed amount over time, this feature provides flexible options to suit your trading strategy.
Understanding Jito Bundle and SolTradingBot
Jito Bundle represents a groundbreaking feature within the Solana ecosystem, offering traders a streamlined method to execute multiple transactions seamlessly. These bundles are meticulously designed lists of transactions that ensure sequential and atomic execution, enhancing efficiency and reliability in trading operations.
Read more about Jito Bundle on Jito’s documentation
Jito Bundle provides invaluable support for SolTradingBot users, offering a range of functionalities to optimize trading strategies:
- Tipping Validators: With Jito Bundle, traders can prioritize their transactions by tipping validators, ensuring prompt execution and maximizing trading opportunities.
- API Integration: Jito Bundle seamlessly integrates with SolTradingBot’s API, allowing users to leverage bundle functionality directly within the platform for enhanced trading efficiency.
- Transaction Optimization: By batching DeFi operations and leveraging atomic arbitrage opportunities, traders can capitalize on market inefficiencies with precision and ease.
- Enhanced Execution: SolTradingBot users can enjoy faster and more reliable execution of complex trading strategies, thanks to Jito Bundle’s specialized bundle execution stage.
Step 1: Getting started with SolTradingBot — setting up your Solana wallet
The first step in utilizing SolTradingBot is to have a Solana wallet in order to fund the Trojan wallet. Popular choices among users include Phantom and Solflare, known for their user-friendly interfaces and robust security features.
Download and install your chosen wallet from the official website or app store. Follow the on-screen instructions to create a new wallet. Remember to safely store your seed phrase; it’s your key to accessing your funds.
You can also fund your SolTradingBot wallet from an exchange such as Binance, but it is recommended to also have a Solana wallet in order to move funds around easier.
Step 2: Initiating SolTradingBot on Telegram
With your wallet ready and funded, it’s time to engage with SolTradingBot. Access SolTradingBot here. Press /start command and choose the wallet button. The Bot will give you some options. If you want to create a new wallet, choose Generate New Wallet. The Bot will send you a new wallet address with a Private Key that you can later export if needed.
Step 3: Buying tokens
To trade, choose the /buysell command. The Bot will ask for the token contract that you want to trade. The Bot will find and send you all the token information, and also give you options to buy that token. If you want to sell a token, choose the buy↔️sell button to change to sell.
You have three buying options for each token; Swap, Limit and DCA.
Swap = regular swap, which swaps the tokens within your slippage percentage
Limit = limit order, which allows you to set a price at which a buy order is triggered.
Quick tip: you can use percentages, so for example if you want to buy a token when it comes down -30 % in price, you can send “- 30 %” and it will count the trigger price for you, in this example 3.3 USD (current trading price for $WIF as of trading this article 4.74 USD 👀)
DCA = Dollar Cost Average, which allows you set an automated buying (or selling). 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.
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.
Step 4: Profit tracking
After purchasing tokens, SolTradingBot allows you to manage your positions effectively by using /profile command and wait for the Bot response.
Step 5: Trade Checking
Choose /trade button and wait for the Bot response. The Bot will now show you the Trading history of the wallet, including the old trading and current tokens holding, with their status.
Step 6: Sniping tokens with SolTradingBot
Paste the token contract you want to snipe to the Bot. The Bot will send you the information of that token. Choose “Snipe”.
- The Bot will give you options to choose the amount of $SOL you want to snipe for that token. Of course, you can manually type the amount of $SOL
- The Bot will pin a pending transaction for the sniping process. All you have to do now is wait for the token launch, and the bot will buy for you
- SolTradingBot will announce to you if the snipe is successful or not, based on the project settings
Step 7: Copy-trading wallets with SolTradingBot
Step 1: Access SolTradingBot
Step 2: Export your Solana Trading wallet
Step 3: Choose /copytrade command
Step 4: Choose the wallet you want to use for copy trading
Step 5: Choose Add wallet button
Step 6: Enter the name for the wallet you want to copy its trade
Step 7: Paste the wallet you want to copy its trade
Step 8: Activate Copy Buy or Sell of that wallet
SolTradingBot fees
The Trading Fee on SolTradingBot is 1%, however there are no fees for these tokens:
- Myro — $MYRO — https://twitter.com/MyroSOL
- Bonk!- $BONK — https://twitter.com/bonk_inu
- DogWifHat — $WIF — https://twitter.com/dogwifcoin
- Jupiter — $JUP — https://twitter.com/JupiterExchange
- Wen — $WEN — https://twitter.com/wenwencoin
That’s it, hopefully this was helpful guide to you. If you want to start using SolTradingBot, please feel free to use my referral link: https://t.me/SolTradingBot?start=C4Z8HonGD
Links
- Website: https://soltradingbot.com/
- Telegram Bot: https://t.me/SolTradingBot?start=C4Z8HonGD
- Twitter: https://twitter.com/SolTradingBot
- Documentation: https://soltradingbot.gitbook.io/
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