How To Start Making Money with Memecoins (FULL GUIDE + BullX SETTINGS)

Summary

In this video, the creator shares a comprehensive guide on how to start trading Solana meme coins, offering practical advice for beginners. He walks viewers through the process of buying Solana, setting up wallets, and choosing the right trading platforms. The creator emphasizes the importance of using personalized trading settings and strategies, including filters, slippage, and fees. He also highlights how to identify trends and meta narratives in the market, using a live trade example to demonstrate the approach. Viewers are encouraged to join live trading sessions on Kick for more insights.

Takeaways

• 😀 Always start by purchasing Solana (SOL) as it’s needed for trading Solana meme coins.
• 😀 Use Phantom wallet to store your SOL, available both as a browser extension and mobile app.
• 😀 The Bullock (Bux Neo) platform is recommended for trading Solana meme coins, after transferring SOL into the platform.
• 😀 Set basic filters to avoid low-quality coins; a minimum market cap filter of $15,000 is a good starting point.
• 😀 Adjust trading presets based on market conditions: use lower volume filters for quiet times and higher volume for active trading periods.
• 😀 Set slippage tolerance higher (around 35%) to ensure quick execution during volatile coin trades.
• 😀 Utilize MEV protection to avoid bots front-running your trades, ensuring a more secure and efficient transaction.
• 😀 Understand the importance of market narratives (e.g., religious or meme themes) to identify trending coins with potential for quick growth.
• 😀 Be prepared to scalp trades for short-term profits, but also consider holding onto coins longer if they continue performing well.
• 😀 Follow crypto trends on social media platforms like Crypto Twitter and TikTok to stay updated on popular memes and narratives that could impact coin prices.
• 😀 Learn from experienced traders by watching their streams and participating in the community to refine your trading strategies.

Q & A

What is the main topic of this video?

The video focuses on teaching beginners how to start trading Solana meme coins. It provides an overview of trading strategies, tips, and practical steps to make profits in the meme coin market.

Why is Solana a good choice for trading meme coins?

Solana is known for its fast transaction speeds and low transaction fees, which make it an attractive platform for trading meme coins. The speaker highlights that meme coins on Solana are gaining traction and that it's a good time for new traders to get involved.

What is the first step to start trading Solana meme coins?

The first step is to buy Solana (SOL) on a platform like Coinbase or Binance, then deposit it into a wallet such as Phantom, which is compatible with Solana and can be used for trading and storing coins.

What is Phantom Wallet, and why is it recommended?

Phantom Wallet is a cryptocurrency wallet designed for the Solana blockchain. It is recommended because it's easy to use for storing and transferring Solana, and it integrates smoothly with various Solana-based platforms for trading meme coins.

What are the key features of the trading platform 'Bullock'?

Bullock is the trading platform used by the speaker to trade Solana meme coins. It offers a seamless way to deposit funds from your wallet and allows for quick trading with different filters to identify potentially profitable meme coins.

What filters should traders use when searching for Solana meme coins?

Traders should use filters that focus on newly created coins, and avoid coins with high market cap to prevent investing in dead coins. Setting filters for low or moderate volume helps in identifying new and less crowded opportunities.

How does the speaker use MEV protection, and why is it important?

MEV (Maximal Extractable Value) protection is used to prevent bots from manipulating trades. It ensures that buys and sells occur at the expected price, protecting traders from losing profits due to automated bot interference.

What tools does the speaker recommend for tracking new meme coins?

The speaker recommends using tools like the **Crypto Twitter Tracker** and **Trench Raider Scanner** to monitor trending meme coins and track new opportunities. These tools help identify which coins are gaining attention and might be worth trading.

What was the example trade the speaker demonstrated, and how did it turn out?

The speaker demonstrated a trade with a Solana meme coin related to the 'Saint' meta, which he identified as trending in the market. After making the purchase, the price of the coin rose, and the speaker made a profit of 1.52 Solana, which equated to approximately $372.

What is the significance of the Saint meme coin example in the video?

The Saint meme coin example illustrates the importance of recognizing trends in the meme coin market. By fitting into the 'Saint' meta, which is related to religious memes, the coin caught attention and quickly appreciated in value, demonstrating how identifying cultural trends can lead to profitable trades.

How can viewers continue to learn from the speaker?

Viewers are encouraged to follow the speaker's live trading sessions on the Kick platform, where he trades and shares real-time strategies for trading Solana meme coins. The speaker also mentions making significant profits during live streams, such as 25 SOL in a single session.