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Monk ⛰️

@monkmoneymm

Published: December 21, 2024
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04:56 AM

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

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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?

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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

Image in tweet by Monk ⛰️
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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/prof... 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

Image in tweet by Monk ⛰️
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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)

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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

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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

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