Many traders miss out on massive gains—10x, even 20x—by forgetting the fundamentals in their pursuit of huge profits. Often, they burn out, get frustrated, and leave the market because they don't manage their trades wisely.
I’m here to share the secret to avoiding this pitfall and ensuring consistent wins. So, what do I mean when I say traders are undershooting their profits?
The Common Mistake: Many traders look for that elusive 100x moonshot, holding onto a coin indefinitely, only to be disappointed when it doesn’t skyrocket. In the end, they either lock in a loss or walk away with minor gains.
The Solution: Take profits early! Set a target to exit at 2x to 5x gains, leaving behind a small portion (a “moon bag”) for potential long-term upside. You’ll find yourself winning much more often than waiting for that one-in-a-million 100x miracle.
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Step 1: Start with DexScreener on the Solana Chain
Visit @dexscreener and switch to the Solana chain. Check out “New Pairs” and visually analyze which coins catch your attention. Your mission? Identify what developers are building right now—things are always changing in the crypto world.
Step 2: Seek Out the 5-10x Gems
Once you’ve scoped out potential coins, zoom in on the ones that could provide a 5-10x return. Click on "1H" to see which tokens have dipped within the last hour. As someone who’s spent countless hours trading, I’ve found a strategy that works—buying after a significant drop.
Step 3: Filter Out the Duds
Don’t waste time on micro-caps that won’t go anywhere. Set filters on DexScreener:
Liquidity: Minimum $10,000
Market Cap: Minimum $50,000
These filters will save you from dealing with coins that have too little liquidity or potential.
Step 4: Gauge the Community Sentiment
Before making any moves, always check social media. Start with Twitter and use @getmoni_io to get the pulse of the community. Then, dive into Telegram groups to see if people are thinking of buying the dip or preparing to sell further. If possible, ask the project team about their future plans.
Step 5: Buy After the Big Drop
Once you've found a memecoin with promise, wait for that golden opportunity—a 70-80% drop. Timing is key here, and while it might take some practice, you’ll often find this strategy highly effective when done right.
Step 6: Set Limit Orders and Take Profits
Once you’ve picked your buying levels, set limit orders. I recommend using @tradewithPhoton because it offers protection against MEV bots, and you can set your Take Profit levels easily. Remember, not every trade will be a winner, but with this approach, you’ll find consistent success.
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Final Tips:
Don’t put all your capital on the line—start small and scale up once you're confident.
The strategy isn’t foolproof, but with patience and practice, you'll find it incredibly reliable.
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