With the recent surge in crypto markets, traders are seeking new ways to maximize profits. Trading bots, like TrojanBot, are gaining popularity for their quick and easy approach to trading memecoins. This article offers a comprehensive guide on using TrojanBot, and includes tips and tricks on how to best trade memecoins with it.

What is TrojanBot?

Trojan is a Telegram-based bot designed to assist Solana memecoin traders in improving their trading skills and efficiency. As of now, Trojan is the most popular trading bot on Solana, scoring the highest volume. Its ease of use, speed, and effectiveness—when used correctly—make it an attractive tool for memecoin traders. Whether on your phone or laptop, TrojanBot ensures you’re ready to trade memecoins effectively anytime! Let’s have a look at the steps to get your bot up and running:

Step 1: Open Telegram

Make sure you have Telegram installed, as TrojanBot only operates there.

Step 2: Install TrojanBot

Install your TrojanBot via this link. Then, click on ‘start bot’. 

Step 3: Launch your bot

To launch the bot, click on the button saying ‘start’. If there is no button, type ‘/start’. The dashboard for your trading bot will now be opened.

Step 4: Add Solana to your balance

First thing to do now your bot is launched, is to get some Solana on it. For this, you need to copy the Solana address that is displayed at the top of the dashboard.  

Go to Bitvavo or another exchange of your choice, and paste the TrojanBot Solana address there to send some Solana from your exchange to your bot. When you’ve done this, go to your bot again and click on ‘refresh’. Within a few minutes, Solana should be added to the balance of your bot.

Step 5: Optimize your bot settings

Open ‘settings’. First of all, go to ‘custom fee’. There, you can adjust the fee you’re paying for every transaction to your liking. The higher you set your fee, the faster your bot becomes. Ofcourse you can leave it on the set standard, which is ‘fast’ (around 0,0015 Sol fee per transaction). 

Next, click on ‘buy settings’. Here, you can manually adjust the buy settings to your liking. Suggested is to set your ‘buy slippage’ at around 5%, so that you can’t get too big of a negative price impact when buying memecoins. When trading very volatile memecoins though, sometimes a higher slippage (like 15%) is required to be able to buy them. With too low of a slippage % , transactions fail more often. 

Now that you’ve set your slippage, adjust the ‘buy amounts’ that will be set standard on your dashboard. 

For example, click on the ‘10 SOL’ button. Then type ‘0.1’ and hit send. It will now have changed your ‘10 SOL’ button to ‘0.1 SOL’. When buying coins you can now quickly click on ‘0.1’ SOL, and that amount will then be bought immediately. 

Now, go back and hit ‘sell settings’. Here, do the same as for your buy settings. Don’t forget to adjust the slippage to your preferred amount.

Step 6 – final step: Trade Solana memecoins of choice

Now that you’ve optimized your bot and made it ready to go, you can buy your first memecoin. To find and analyze hot memecoins, it is recommended to use a website like DEX screener. There you can quickly copy memecoin addresses and paste them into your TrojanBot.

To buy a memecoin with your bot, send the memecoin address to your bot. The buy dashboard will then pop up, giving you the amounts of SOL to buy the memecoin with. Bottom right, you can also fill in a self chosen amount of SOL to buy. 

Now that you’ve clicked on an amount, the bot will immediately buy it for you. If the buy succeeded it will say ‘buy success!’. If it failed, you might need to up your slippage % for the buy to go through. 

Next, click on ‘view tokens’ to see and manage the token(s) you hold. An alternative way to get there is to go to the home dashboard and hit ‘positions’. This opens all your memecoin holdings. Here, you can keep clicking on ‘refresh’ to see the current price of your holdings. When satisfied, click ‘sell’ and follow the same steps as for buying. 

You now successfully traded a memecoin with the TrojanBot, easy right?

Other features

As you may have noticed the TrojanBot has a wide range of other features too. Copy trading, sniping, DCA orders and limit orders are all useful possibilities. It’s up to you whether you experiment with those, to see if they can aid your memecoin trading skills even further. On Youtube, lots of useful TrojanBot tutorials are to be found, so make sure to check those out too. Good luck with your memecoin trading journey!

Disclaimer: Trading memecoins carries significant risk due to their high volatility and speculative nature. Only trade with funds you can afford to lose. Always do thorough research, and remember that past performance does not guarantee future results.

The post How to Use TrojanBot to Trade Solana Memecoins appeared first on YourCryptoLibrary.