If you only remember 1 thing from this entire document:
There’s always another one.
Overview:
If you’ve haven’t bought a memecoin in 2024 yet, read this.
<aside> 💵 Load up a fresh wallet just for trading.
You need to use a trading tool. Birdeye & Jupiter are too slow.
I recommend starting with Photon. It’s the perfect balance between a pro-tool & beginner friendly. When you create your account, make sure you import the private keys into your Phantom. If you’ve never used Photon, this is a great beginner guide.
If you want to use BullX instead, you can get early access here.
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<aside> ☝ “How much $ should I start with?”
Allocate an amount that if lost would be a lesson, not a crisis. Ultimately, it’s up to you. Be prepared to lose 100% of what you put into memecoins.
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<aside> 🧘♂️ Focus on having fun. The gains will come.
Be comfortable with the stack that you’re starting with. Don’t let anyone make you feel inadequate. These are fucking memecoins at the end of the day. Focus on having fun & you’ll get better faster.
Most of this game is about making intense decisions calmly. You can’t be calm if you’re stressed out. Stressing out is for the jeets.
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<aside> 🧢 Joining de/cap (rules & group etiquette)
We have 2 groupchats dedicated to trading memecoins.
Here’s a guide on navigating de/cap
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<aside> 💵 When buying a coin, target spending 1-5% of your total bankroll on each coin.
If your total bankroll is 100 SOL.
Your sizing range is 1 SOL (1%) - 5 SOL (5%), per coin you buy.
Think of this range as a sliding scale, adjusted by your confidence on the coin.
Photon makes it really easy to set these parameters for yourself too.
You can customize these buttons in your settings.
<aside> 🥴 Overtrading is a symptom of oversizing.
Have you ever been nervously staring at a chart, trading every swing and when you finally finish - you realize that you would have made so much more if you just held?
This happens when you put too much of your bankroll into the coin.
If you sell too early, and find yourself chasing dips to try to “fully juice” a coin - just be careful… this is the #1 way to lose money on a coin that ends up going parabolic.
Remember, there’s always another one.
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If you want to go in depth on the precise marketcap levels to look out for, I created a guide.
<aside> <img src="/icons/arrow-down_blue.svg" alt="/icons/arrow-down_blue.svg" width="40px" /> An in-depth guide for buying Solana memecoins by marketcap.
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