Monk ⛰️

How to track wallets 🧵

I made 7 figs from tracking wallets in 2024

No single win was more than 10% of my port. Instead, this came from stacking consistent wins (e.g. $FXN $PIPPIN $FLAVIA $AVB)

This thread covers:
- Why track wallets
- How to find them
- What makes a good wallet
- Adding a wallet to your list
- Daily work flow

1. Why track wallets?

Earlier this year I noticed that the real winners are the people who have access to insider information

I also knew that I was not one of those people

So rather than begin the painstaking process of building up a high-signal social network, I realized that it's just as good to find the wallets that do have access to that kind of information

This effectively makes you an insider too

I also track wallets are the simply solid traders but the rationale is the same:

Why try to find the good AI plays yourself when you can see what all the best AI traders are buying?

2. How to find good wallets

I spent months doing this:

A) Pick a coin that has recently run hard (e.g. $ARC)
B) Go to $ARC on dex screener and click "top traders"
C) Click "EXP" to open 10-100 wallets (depending on how much time you have) on sol scan
D) Copy each wallet address and search for it in @CieloFinance 
E) Decide if the wallet is worth adding (covered in the next step)

Then repeat steps B-E but instead of "top traders" go through "top holders"

This takes time and is perfect for quiet/red days

3. What makes a good wallet?

Now that the wallet is open in Cielo, you need to decide if it's worth adding to your list. Just because someone nailed one trade doesn't mean they're a good trader

The easiest way to decide is to click "Token PnL" and see if they are making profit

E.g. this is one of the top traders for $ARC
https://app.cielo.finance/profile/5euvEJSn31FK2kMGrg6a8WG2Zy32ostcJxjFssTH3bV/pnl/tokens?timeframe=30d

He's a good whale trader who has only bought 8 tokens in the past 30 days and made profit on 6 of them

I don't expect him to find any gems but I can assume that the next time he sizes into a coin it's got a good chance of going higher

You have to play around and see what kind of wallets work for you. There are no set rules

My favorite wallets:
- don't trade too many tokens (< 100/month)
- have decent win rate (30%+)
- catch multiple big wins early

4. Adding wallets to your list

It's useful to have some kind of labelling system so you can discern the quality of the wallet at a glance

When you find a good wallet, click "add" then edit

I give each wallet:
- a score /10 for how strong they are
- a name (which makes it easier to identify)
- number of tokens traded in past 30 days
- win rate

So for the wallet above it look something like: "6 Greg 8 75%"

Yes, this is autistic. Just do whatever works for you

Next, click "alert settings" and select "new trade alerts"

This means you'll only get a notification when the wallet makes a new trade. If you don't select this then you'll get a lot of noise from people swapping in and out of tokens

Finally, add the wallet to your list that is connected to a TG notifications bot (setup in Cielo settings)

5. Daily work flow

If you're bored you can stare at Cielo feed

Otherwise focus on other things (e.g. finding more wallets) and then when you get a TG notification check out who's buying and what the coin is

If you have multiple wallets buying the same coin, it's a good sign it's a winner

You decide to buy (or not) depending on the quality of the wallets buying, the MC of the coin, and any other information you usually use to make a decision

There's more to it but this is enough to give you a real edge

I don't mind sharing because it takes a long time to get good at, and I know that most people won't put in the work

This is for the few that will