The EASIEST Way to 5X TO 10X SOLANA MEMECOINS [Beginner Friendly Wave 2 Strategies]

Summary

This video tutorial offers a step-by-step guide on setting up profitable Wave 2 trades in Solana-based meme coins. The speaker emphasizes Solana as their preferred blockchain for daily trading due to its high liquidity and trading volume. They demonstrate how to filter and analyze new pairs, identifying trending narratives and breakout setups. The video also covers managing trading positions, taking profits, and protecting capital. It highlights the importance of understanding market narratives, checking contract safety, and the potential for high returns in meme coin trading, especially during the current bullish market conditions.

Takeaways

• 📈 The video focuses on setting up profitable Wave 2 trades, particularly in Solana-based meme coins.
• 💡 The speaker recommends Solana as the preferred blockchain for trading due to its high liquidity and active trading environment.
• 🔍 To find potential trades, the speaker suggests looking for coins with strong narratives and checking social media for trending topics.
• 🕒 The process involves filtering for new pairs with at least 10,000 in liquidity and up to 3 hours old to find promising setups.
• 🔑 Understanding the current market narrative is crucial, as it helps identify which meme coins are gaining traction and popularity.
• 💼 Learning from someone who actively trades daily is valuable, as they have practical experience and insights into market movements.
• 📊 Monitoring the last 5 minutes and 1 hour of trading volume is essential to gauge the interest and potential of a meme coin.
• 📈 The speaker uses specific strategies, such as the consolidation strategy and trend line breakouts, to identify good entry points.
• 💰 Managing trading capital is highlighted as a key aspect of trading, with the speaker emphasizing the importance of not buying high and selling some positions to secure profits.
• 📉 The video discusses the importance of recognizing when a trade is not going well and taking action to protect your investment, such as selling a portion of the position.
• 🚫 The speaker warns about the risks of trading, including the potential for scams and the need to verify the legitimacy of meme coins through research and checking for locked liquidity.

Q & A

What is the main topic of the video?

The video is about how to set up Wave 2 trades for Solana-based meme coins, which the speaker considers to be highly profitable.

Why does the speaker prefer trading on Solana?

The speaker prefers trading on Solana because they believe it is the best blockchain for trading meme coins, despite acknowledging other blockchains and their occasional narratives.

What is the first step the speaker suggests for setting up Wave 2 trades?

The first step is to click on 'new pairs' and then change the age to up to 3 hours, ensuring liquidity is at least 10,000, and applying the Solana filter.

How does the speaker find out about the current narratives in the meme coin market?

The speaker finds out about the current narratives by buying and selling meme coins and observing what's trending on the Dex screen.

What is the importance of checking the last 5 minutes and last 1 hour of volume when trading meme coins?

Checking the last 5 minutes and last 1 hour of volume helps to assess the activity and interest in a particular meme coin, especially for those that have just launched.

What strategy is the speaker using for the trades shown in the video?

The speaker is using the 'second win strategy' from their playbook, which is a consolidation strategy.

Why is it important to manage trading capital when trading meme coins?

Managing trading capital is crucial to protect against sudden market dumps and to ensure that profits are secured by selling portions of the position as the trade becomes profitable.

What does the speaker mean by 'golden zone' when buying meme coins?

The 'golden zone' refers to the optimal price range (100 to 300) to buy meme coins on a dip, which can potentially lead to significant returns if the coin's value increases.

How does the speaker decide when to sell a portion of their position?

The speaker decides to sell a portion of their position when they reach a certain profit level (e.g., 2x) or when the coin shows signs of resistance or a lack of volume to support the price increase.

What precautions does the speaker take to avoid scams when trading meme coins?

The speaker checks the contract to ensure liquidity is locked and burnt, and they also research the coin's social media presence and website to verify its legitimacy.

How does the speaker approach slippage when trading meme coins?

The speaker acknowledges that slippage is part of the cost and risk of trading meme coins, especially in fast-moving markets, and advises not to be overly concerned about it when aiming for significant profits.

What is the speaker's outlook on the Solana meme coin market for the near future?

The speaker is optimistic about the Solana meme coin market, hoping for favorable conditions at least until the end of 2024 and possibly into 2025.

Outlines

00:00

🚀 How to Set Up Profitable Wave 2 Trades

This video demonstrates setting up Wave 2 trades, emphasizing their profitability in meme coin trading. The speaker prefers trading on the Solana blockchain due to its advantages. The video details the process of finding and selecting new pairs based on specific criteria like liquidity and age, and explains the importance of understanding current narratives in meme coins. The speaker also shares their strategies for identifying and managing potential trade setups.

05:03

📊 Managing Trading Positions

The speaker discusses the importance of managing trading positions, focusing on the need to protect trading capital. They explain the strategy of selling portions of positions to safeguard against potential losses and the importance of observing volume and trend lines for decision-making. The video highlights examples of managing active positions and the criteria for deciding when to sell parts of a position to mitigate risk.

10:03

💼 Taking Profits and Long-term Trading Strategy

In this section, the speaker emphasizes the strategy of taking profits to protect trading capital while letting the rest of the position run for potential higher gains. They discuss the concept of buying at low market caps and the potential for significant returns. The speaker also reflects on the current market conditions and their plans to focus more on trading due to the favorable environment, while balancing their time with making YouTube updates.

Keywords

💡Wave 2 trades

Wave 2 trades refer to a trading strategy where one enters a position after an initial price movement or 'wave' has occurred, expecting a continuation of the trend. In the video's context, this strategy is applied to meme coin trading on the Solana blockchain, aiming to capitalize on potentially profitable second waves of price increases. The speaker mentions setting up trades by observing breakout setups and managing positions to protect trading capital.

💡Solana

Solana is a high-performance blockchain platform known for its fast transaction speeds and low fees. In the video, the speaker expresses a preference for trading on Solana due to its efficiency and the profitability of meme coin trading on this platform. The term is used to highlight the blockchain of choice for the trading strategies discussed.

💡Meme coins

Meme coins are cryptocurrencies that are created as a joke or for fun, often based on internet memes or trends. They have become popular in the crypto market for their potential to generate significant returns in a short period. The video focuses on trading these types of coins, particularly on the Solana blockchain, and understanding the narratives and trends around them.

💡Liquidity

In the context of trading, liquidity refers to the ability to buy or sell an asset quickly without affecting its price. The speaker mentions setting a minimum liquidity threshold of 10,000 for identifying potential meme coins to trade, indicating that higher liquidity can facilitate smoother trading and reduce price slippage.

💡Narrative

A narrative in the context of meme coins refers to the story or theme around which a coin's popularity and value are built. The video emphasizes the importance of understanding current market narratives to identify trending meme coins. Examples given include coins with 'rude names' or those related to mental health, which are popular at the time of the video.

💡Breakout setup

A breakout setup in trading occurs when the price of an asset moves above a defined resistance level, often signaling the start of a new upward trend. The speaker discusses using breakout setups as a cue for initiating trades in meme coins, as seen in the script where they mention a 'nice breakout setup' for one of the coins.

💡Volume

Volume in trading refers to the number of shares or coins that are traded over a given period. The speaker checks the last 5 minutes and last 1 hour of volume for newly launched meme coins to gauge interest and potential for price movement, indicating that higher volume can be a sign of a coin's strength and potential for growth.

💡Position management

Position management involves the strategies used to optimize and protect a trading position. The speaker discusses managing positions by selling a portion of holdings to secure profits and protect trading capital when a trade is not performing as expected or has reached a significant resistance level.

💡Golden Zone

The term 'Golden Zone' in the video refers to an optimal time frame or price range for buying meme coins after their initial launch and subsequent dip. The speaker suggests that buying in this zone can lead to significant returns, as coins that run to a million and then drop to 200-300 have the potential for substantial gains.

💡Rug

A 'rug' in the context of cryptocurrency refers to a scam where developers abandon a project after raising funds, often resulting in a loss of value for investors. The speaker warns about the risk of rugs, especially in the early stages of a coin's launch, and advises checking contract details to ensure liquidity is locked and the project is legitimate.

💡Bull market

A bull market is a period of time in which prices for assets, such as stocks or cryptocurrencies, are rising or are expected to rise. The speaker expresses optimism about the current bull market conditions for Solana meme coins, suggesting that these conditions are favorable for trading and profit-making.

Highlights

Introduction to setting up Wave 2 trades for potentially profitable meme coin trading.

Preference for Solana blockchain for daily trading due to its high liquidity and trading volume.

Technique of using new pairs and filters to identify potential meme coin trades on Solana.

Importance of understanding market narratives to identify trending meme coins.

Method of opening potential trades in new tabs for closer examination of setups.

Observation of meme coins with active social media presence and unique narratives.

Strategy of trading meme coins with high volume and good liquidity shortly after launch.

Use of consolidation strategy and second win strategy from the speaker's playbook.

Importance of managing trading capital by selling portions of positions to protect profits.

Technique of taking out initial investment to ensure break-even in case of price drop.

Analysis of volume and resistance levels to determine the strength of a meme coin's movement.

Risk management by selling portions of positions when a trade is not performing well.

Emphasis on the golden zone for buying meme coins on a dip for maximum profit potential.

Advice on not overcomplicating trading and keeping strategies simple and effective.

Highlight of the potential for high returns in meme coin trading with proper strategies.

Recommendation to learn from experience and by analyzing past successful trades.

Discussion on the current bullish market conditions for Solana meme coins and future outlook.

Advice on using tools like Bonk Booth to manage trades and understand slippage.

Warning about the risks of trading, especially with meme coins and the importance of due diligence.

Encouragement to take advantage of the current bull market and learn trading strategies.

Transcripts

in this video I'm going to show you how

to set up Wave 2 trades these can be

some of the most profitable when it

comes to mem coin trading now a lot of

people ask me what's the best kind of

blockchain to trade on for me it's still

salana by a country mile I talk about

other blockchains for example bass when

there's a narrative and some coins that

are pumping but still my main State what

I trade every single day is salana

mcoins and when you want to learn from

somebody learn from somebody who

literally trades day in day out um so

let me show you how to do this very very

easy to do click on new p so this is a

different technique we're doing here

click on new pairs and then what we want

to do is change the age to up to 3 hours

liquidity we want at least 10,000 and

then we want to make sure the filters uh

put on salana as well and then what I do

then is I uh click apply and then I open

all of these in new tabs literally every

single one of them to look for setups

and some of these names cuz there's kind

of a narrative going on at the moment

kind of rude names another narrative

very popular at the moment is mental

health related meme coins so these are

popular so you have to understand what

the narrative is you only get that

by buying and selling meme coins seeing

what's trending on Deck screen and

that's how you find the narrative so I

saw these like I said I won't mention

any names and this had a nice breakout

uh setup so I'm trading this right now

and some of these are currently uh kind

of set in up but you don't want to buy

high so if you missed the dip in some of

these then you don't want to go chasing

it and then the other thing you want to

check check is last 5 minutes last 1

hour of volume and you can see with

these salana Mee coins especially ones

that have just launched like 2 3 hours

ago they still have so much volume like

per hour you're getting $300 $400,000 in

volume and some of them have very good

liquidity as well this is another one

that I open not really looking like it

has any kind of decent setup this is

another one that looks like it's now

died but again I'll keep an eye on it

just in case we get new volume coming in

but this is less likely and this is one

that's doing very well for me at the

moment I saw the consolidation strategy

this is one of the strategies from my

playbook it's the second win strategy

that I'm using here first link in the

description below if you're interested

in that very comprehensive I go through

all the different strategies I use and

this one if you look at their Twitter

this is a pumping narrative and this is

really cool it's kind of funny and it's

obsessive coin disorder and they've done

13 posts here and yeah that's you don't

want much more with mem coins you want

something that's funny a little bit

different within the current narrative

has an active Twitter account that at

least paid for all the socials on here

let's have a quick look at that website

as well all looks good here to me so I

basically aped into these two with

smallish positions nothing major and

then I just watch to see how it goes so

let me show you the positions and then

I'll show you how I manage them so you

can see I have the positions there let

me just refresh it so the the U the

number two one I kind of got in that a

little bit later so it's sideways at the

moment and then you can see the OCD one

um is up very very good so what do I do

with these positions now we need to

manage them the first thing the one of

the most important things is to manage

your trading Capital so when you see

these setups forming like this is

looking bullish but remember it could

fall apart here it had a pump here

already um that didn't really go

anywhere so I'm less bullish on this one

so if it's not going well I'm already

going to sell some of my position so

this one is not going great let me just

sell 25% of my position just so I don't

get caught out here with a s sudden dump

so I've done that already now with the

other one that's going well we know our

round numbers like 500,000 I've taught

you that many times in my videos um

you're going to get some resistance but

notice that we didn't really get much

drop off so it's still looking very

bullish so what you want to do to

protect your trading capital is take out

your initial investment so when I got in

which was around this area and now I'm

up quite quite good so nearly at 2x

already and when you get to that 2x

level if I take exactly 25% out then you

have to understand that that's half of

my stake that's already out so even if

it dropped to half of its value for 120

this basic maths here um I would still

break even even if the price came back

to here so we're getting some

consolidation here um where you see nice

volume here at the bottom that's the

other one thing you want to see from

these breakouts you want to see volume

go up you can see that volume ticked up

and if you have a look at the other one

you can see volume hasn't really broken

out so that's why it's a little bit of a

weaker move we got a trend line breakout

which is good momentum going up on the

RSI you can see that at the bottom here

which is good but we need a little bit

more volume coming in to help support

this move up so you can see the volume

hasn't really broken out we want these

new bars now to be a little bit higher

than the other ones it seems most people

are asleep or something they haven't

seen this break out because usually when

we get stuff like this you get a few

other Deens kind of aping in seeing this

breaking out again now if we get over

this high of 1 million this suddenly

becomes very bullish but if it falls

down from here then it's probably a dead

collection and it's done and dusted you

see this one doesn't have a Twitter that

I can see I could probably find it if I

research but that's already a bother and

you know some of these collections they

get their you know accounts banned and

stuff like that and then they make a new

one so it's not the end of the world but

any food usually will bring the price

down a little bit as well so I'm babying

this position didn't get the best entry

here I want it to be around here to be

honest and I got in at the breakout

which is not the best you want to get in

at a dip doesn't sound like a big deal

but literally you're buying at 600

instead of 800 that is a big deal so

let's have a look at the positions now

so you see first one's in profit now

moving in a little bit into profit

remember I sold 25% just to protect my

uh trading capital and then this one's

up about 50% the OCD one where now I

have an option I didn't put much in for

an entry but I have an option whether to

sell a little bit take a little bit of

profit protect my trading capital or

wait I'm choosing just to wait a little

bit longer on this one because we're

playing around with the 500,000 level

and I've seen good volume come in so in

my experience if it breaks out it needs

to do it now so if it doesn't do that in

the next couple of minutes I will start

selling some my position because I have

to protect my Capital but this is the

first real pump it's had and notice with

this particular one it never had a deep

pullback so it did this run to 300,000

never had a deep pullback it's never

been below 200,000 and it's only

literally 2 hours old so it's very

bullish these are the type of

collections that sometimes you get a bit

of a run and sometimes they can get to

um 1 million and above and I've already

checked the contract so I'm perfectly

happy with that as well I have videos on

my Channel showing you exactly how to do

that step by step that's a good thing to

do even even on these wave 2s but

there's less risk most of the rugs

happen 90% of them in the first few

minutes and then the next kind of 90% of

the remaining 10% happen within the

first hour so usually at these levels

the rugs are less but you still need to

check make sure liquidity is locked and

burnt don't just rely on the green

symbol check my uh video for that I'll

do another one soon as well an updated

one and this is how you trade salana m

coins you don't overco complicated keep

it very very simple and this is the

golden Zone here when you're buying

stuff on a dip at 100 to 200 to 300 so

usually the best ones are the ones that

run to a million first and then drop

down to 2 3 400 and then if they go to 5

million do the maths

200,000 just to go to 2 million is 10x

so if it goes to 5 million that's a 25x

that means if you're putting in say

$11,000 that's 25 Grand that's a lot of

money that's a very very nice flip and

this happens every day all day long and

even now if I see any other the new ones

I'm doing the same thing opening them in

new tabs looking for setups looking to

see if we get any nice wave two setups

or if the coin died like this is more a

coin that completely died usually the

pullbacks are a little bit shallower

you're looking for FIB retracement 68.5

something like that and then you're

looking for consolidation trend line

breakout increase in volume you can see

this is just dipping in volume all the

time there's no new interest in this not

interested might keep it open keep an

eyee on it this is a scam it's very very

obvious I don't even need to do the

research on the contract look at all

this fake um almost perfect green

candles going up no liquidity burnt sign

or anything like that this is um a rug

this put money in this you will lose it

all have to be careful learn what you're

doing when it comes to trading mean

coins so this particular one it's still

doing good it's getting a bit of

resistance at one well it's nearly at 1

million but at 1 million or at this

level it reached before 1.1 I must sell

a tiny bit so I'll probably take another

25% off there let's see how the other

one's doing

very good it's trading around the highs

I don't want to make this video too long

and I want to get back to trading but um

we'll wait a couple minutes see see what

happens because if this does break

through it may not but it's ascending a

little bit but if it does again we would

like a little bit of fresh volume but if

it does these can quickly run and you

see it all the time and how did I learn

all of this stuff by the way it's look

into hundreds of thousands of charts so

all the ones that reach 5 million

reverse engineer go back and see what

price action was doing when it was at

200k not fire what is is doing now and

then if you buy at 5 million yeah it

might do all right and you get a 2x or

3x but the golden zone is 3 or 4 hours

after a fresh launch and you don't need

to panic buy into these either you've

got a few minutes to take your time and

set it up use Bonk poot second link in

description below use that very very

good I use it all the time don't know

why people complain about it it's got

backup Bots as well you have to

understand slippage and stuff like that

but when you're making 25 x's and you're

bothered about 5% slippage then don't

trade meme coins that doesn't make any

sense like you're trying to make 1K and

your position because of buying or

selling you actually lost 100 or2 200

just on the buying and selling which

sometimes happens in fast M moving

collections but you're trying to make 20

grand or 25 Grand what the hell are you

doing like that shouldn't bother you

this is the part of the costs and the

risks when it comes to trading salana

meme coins so try not to bother too much

about that um and that's it if you have

any questions let me know in the comment

section below I'm going to now manage

these positions and see how we go quick

update and you can see this one's now up

one sold so we're getting going with

this one this is already up five sold so

I'm up uh already neara 2x so it's time

to take a tiny bit of profit protect my

trading capital and let the rest of it

run don't care I'll wait a few hours

periodically check on it and see can

this be a runner can this get to 1

million and above I'm buying it I I

bought it at very low market cap it's

only I think 250 or something like that

let's see if it runs and if it runs to 2

million or something that is a 10x

that's my job done for the day so if

this gets to a 10x I don't know how much

more soul that is I think I put let me

just check the position so in this

particular one the initial was six so if

I get to 50 60 sold obviously I know

this the best case scenario it might

just die now we don't know 100% sure but

if I get there with any remaining

position and stuff it's a very good

trade you don't need to do any more

trading than that for the day you just

take your you know few thousand in

profits and stuff call it a day move on

to the next one rinse and repeat I don't

know how good salana how long salana

meme coins are going to be really

amazing for but current market

conditions are brilliant like really

really good I'm hoping till at least the

end of the year 2024 maybe into 2025 and

I'm just going to keep doing this and to

be honest even YouTube's distracting me

a bit from Trading um I'm going to

hopefully spend more time trading

obviously I'll still try and do updates

and make videos and stuff like that but

I don't want to take away from my

trading time either because it's very

fruitful right now so please try your

best learn as much as you can and take

advantage of the bull market thanks for

listening