How to Spot a Great Wallet for Copy Trading

Ever looked at a wallet and wondered if it’s worth copying? Don’t worry, We’ll show you exactly what to look for, even if you’re just getting started. Let’s break it down into simple (yet detailed), easy-to-understand parts.

Starting With the Basics

Before even getting into the analysis itself, there are two main things you must check in order to save up some time: If the wallet is profitable overall and if it has Solana in it. There’s no point in copytrading a wallet who’s losing money or has 0 Solanas (Which means that the wallet is innactive).

Assuming the wallet is profitable and has some Solanas in it, let’s look at the next two most important numbers you should check: Win Rate and ROI

Win Rate

Win rate is often the first thing traders check when evaluating a wallet but focusing solely on this number can make you miss great opportunities. Let’s break down what you really need to know about win rates when it comes to copytrading.

When looking at win rates, you’ll want to focus on wallets with around 60-65% success rate. This might seem lower than you’d expect, but there’s a good reason for it. Lower rates often indicate gambling behavior (Not always the case though): Think random wins and losses without any real strategy. But here’s something that might surprise you: you should also be cautious of extremely high win rates (95%+). These seemingly impressive numbers often signal suspicious activity (trading bundled tokens, orchested quick pumps & dumps, etc) that could actually lead to losses.

But here’s the thing about win rates: They don’t tell the whole story. Let’s look at a practical scenario to understand why. Imagine a wallet has 10 trades. Five wins total $10,000, while five losses amount to $1,000. The win rate is 50%, which might look mediocre at first glance, but the total profit is $9,000. Despite the average win rate, this wallet is highly profitable because it does something crucial: it maximizes wins and minimizes losses.

For instance, looking at the above wallet, it managed to make more than $4,000 in just 7 days with a 63% win rate. If you analyze his traded tokens, you’ll soon realize that it trims the losses pretty quick while having many big wins! Adress: AxD1PoYRjpCzLwLNHjA32AgMaL9S15bdZrbq6FuZesox

That’s why smart traders focus on the Win:Loss ratio rather than just the win rate. A wallet making substantial profits with a lower win rate is often better than one with a high win rate but smaller gains. Remember, at the end of the day, your goal is profitability, not a perfect score. It’s not about how often you win, but how much you win when you do versus how much you lose when you don’t. 

Return On Investment (ROI)

Let’s talk about ROI: It’s basically how good a wallet is at making money. Along with win rate, it’s one of the most important things to look at when choosing who to copy trade.

Think of ROI like this: if a wallet has 100% ROI, they’re doubling their money on trades. Put in $1, get $2 back. Pretty straightforward, right?

Now, what’s a good ROI to look for? That really depends on what kind of trader you want to be. If you’re playing it safe, aiming for wallets with 30-50% ROI is totally fine. But if you’re feeling more adventurous and can handle the risk, you might want to look for wallets hitting 100-200% or more.

Here’s a pro tip though: Stay away from wallets with super low ROI (below 20-30%). Why? Because when you factor in Solana’s transaction fees and what you’ll pay for OdinBot Fees (1% of your transaction + the priority fees you’ve chosen), you might end up losing money if your portfolio is on the smaller side.

At the end of the day, you want a wallet that matches your trading style and can actually make you money after all the costs. Don’t just chase the highest numbers: Take a moment to think about what makes sense to your situation.

Quality of The Traded Tokens

So you’ve found a wallet with great win rates and ROI? That’s great, but now it’s time to dig deeper and see where those profits are actually coming from. The first thing we’ll look at is the quality of tokens this wallet has been trading. Are they just quick pump and dumps? Or does the wallet trade more established tokens with higher market caps?

To understand this better, let’s look at two different types of wallets: one that trades too many scam tokens and another that trades more established tokens (or at least ones that aren’t quick pump and dumps).

We’ll examine two alpha wallets shared in OdinBot’s discord.

Wallet 1

Wallet Address: 5rEYJuDHGp4BWaTcn1RrSWg5XZCs3LRMc9Edezsck1hN

When we investigate this wallet, we quickly notice that most of its tokens have the red danger sign, as you can see in the image.

This means all these tokens have very low liquidity (meaning they’re dead), which is almost certainly an indicator that they were very quick pump and dumps that didn’t even make it to bonding.

If we open the chart of any of these tokens, we’ll see exactly what we’re talking about:

Because of this, it’s strongly recommended to avoid wallets that have too many red danger signs in their traded tokens, as this is a strong indication they’re trading dangerous tokens where you’ll probably lose money while they profit.

Wallet 2

Wallet Address: CFqDUKDfAN9wadUwUBrb3LCEy8fjx7zqJnYXMd7P6JMv 

When we check this wallet, we can immediately see a much healthier pattern. The tokens it trades rarely show the red danger sign, suggesting this wallet focuses on more established coins.

Looking at their traded tokens, we can see they often trade  during the bonding curve or right after tokens hit Raydium. The charts of these tokens show healthy price movements with proper volume, not just sudden spikes followed by crashes.

For example, if we open any of their recent trades, you’ll notice a clear pattern: the tokens maintain steady trading activity, have decent liquidity, and show more organic price movements. This means if you were copy trading this wallet, you’d have enough time to enter and exit positions without getting caught in flash crashes or rug pulls.

What’s even more interesting is that most of these tokens are still actively trading days after the initial trades. This is exactly what you want to see in a copyable wallet. They’re not just chasing quick pumps but actually trading tokens with real market activity.

This kind of wallet is much safer to copy trade because even if you don’t get the exact same entry price, the tokens they trade have enough stability and liquidity for you to still make profitable trades. 

Holding Duration

Moving on to the next key point we have the holding duration, which dictates how long the given wallet holds the bought token. Is it seconds, minutes, hours, days..?

Let’s compare our two wallets again, but this time focusing on how long they hold their tokens. The difference is pretty eye-opening.

Looking at our first wallet (5rEYJuDHGp4BWaTcn1RrSWg5XZCs3LRMc9Edezsck1hN), we notice a concerning pattern. They hold tokens for mere seconds or minutes.

Buy, quick pump, sell. That’s their game. This ultra-fast trading style makes it almost impossible to copy their trades effectively. By the time you try to follow their trade, the token has already pumped and dumped.

Now, check out our second wallet (8FGQCoSqZkiYWPgvShkg8HxEsxvxC5v5nqxTaS9rkVgJ). The difference is night and day. 

This trader typically holds positions for several hours, sometimes even days. This gives you plenty of time to enter positions and actually follow their strategy. Their trades breathe: They give tokens time to develop real price movement.

Generally, you’ll want to avoid wallets with extremely short holding times (less than 2-3 minutes). But hey, at the end of the day, it all comes down to your personal strategy. If you can make it work and stay profitable, that’s what matters most.

Trading Frequency

Let’s talk about trading frequency, another key factor that can make or break your copy trading success. This is all about how active a wallet is with their daily trades, and it’s just as important as holding duration when you’re choosing who to copy.

Trading frequency matters because it directly impacts your costs and how you’ll need to manage your capital. Think about it: a wallet might show amazing returns making 20 trades per day but remember that each trade you copy comes with its own set of fees. On Solana, you’re looking at network transaction fees plus OdinBot fees for every single trade you follow.

Let’s look at our example wallets again to understand this better. Take wallet 5rEYJuDHGp4BWaTcn1RrSWg5XZCs3LRMc9Edezsck1hN:

Just looking at their recent activity, we can see they’re making multiple trades per day, often with holding times of just a few minutes or seconds. This high-frequency approach means if you’re copy trading this wallet, you’ll need to account for fees on every single one of these rapid trades.

Now compare this to our second wallet: CFqDUKDfAN9wadUwUBrb3LCEy8fjx7zqJnYXMd7P6JMv. 

Looking at their trading pattern, we see much more selective trading, the traded tokens are held for multiple days, and they make far fewer trades overall. 

So, what’s the right trading frequency to look for? Well, like many things in trading, it really depends on your personal strategy and capital. If you’re working with a larger portfolio and can afford higher fees, a more active wallet like our first example might align perfectly with your goals. But if you’re starting with a smaller capital base, you might want to look for wallets that trade less frequently, like our second example, while maintaining solid profitability.

At the end of the day, it’s not just about how many trades a wallet makes, but the quality of each trade. A wallet making fewer, well-timed trades can often outperform one that trades constantly throughout the day. 

Is it Already Copytraded?

Finally, you’ll want to check if a wallet is already being heavily copytraded. This is crucial because copying an already copytraded wallet often means you’ll be getting much worse entry prices than the original trader.

Think of it like surfing: you’ll never catch the same wave as the person ahead of you. The same applies to copytrading: 99.99% of the time, you’ll always buy and sell after your mirror wallet. This delay can significantly impact your profits, especially with tokens that have low liquidity.

The easiest way to spot a heavily copytraded wallet is to look at the price action right after they make a purchase. If you consistently see sudden price spikes of 10-20% or more immediately after the wallet buys (In the 1-3s afterward candles especially in tokens with market caps below $500k), that’s usually a clear sign that many others are copying those trades. These spikes aren’t natural market movements. They’re the result of multiple copytraders rushing to follow the same position.

For example, if you see a token’s price jumping 39% right after a wallet’s purchase (turning a $28,000 market cap entry into a $40,000 one for copytraders), that’s a strong indication you might want to look elsewhere. The lower the token’s liquidity, the more pronounced these post-purchase spikes will be if the wallet is heavily copytraded.

For a more in-depth analysis of how to identify copytraded wallets and understand the mechanics behind these price movements, you can check out our detailed guide about it.

Closing Thoughts

When evaluating a wallet for copy trading, here’s what you should look for, in order of importance:

  1. Solid foundation metrics: Look for a win rate around 60-65% combined with a healthy ROI (minimum 30-50% for conservative strategies, can go higher for more aggressive approaches).
  2. Token quality: Examine the types of tokens they trade. Avoid wallets focusing on low-liquidity tokens or quick pump-and-dumps. Instead, look for those trading established tokens with healthy market activity.
  3. Holding duration: Ensure their holding time gives you enough room to actually follow their trades. Be wary of extremely short durations (seconds or few minutes) unless you have advanced automation.
  4. Trading frequency: Verify that their trading pace matches your capital capacity and ability to handle fees. Remember that each trade incurs both network and platform fees.
  5. Copytrading status: Finally, check if the wallet is already heavily copytraded by watching for sudden price spikes (10-15% or more) right after their purchases, especially in lower market cap tokens.

Remember: Success in copy trading isn’t about finding perfect-looking statistics but rather identifying genuinely skilled traders whose strategies remain effective even when followed by others.