If you scroll to the bottom of the homescreen, you'll see this purple filter box. This is where all the magic happens.
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@dexscreener Click on "Rank and Filter" and set your parameters.
First, choose the chains you want to trade with (or leave it on All DEXes )
Then choose minimum liquidity. Because I am willing to trade nano-caps, I go pretty low here. But you may choose to up it to 50k or even 250k...
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@dexscreener ...Minimum liquidity is a personal preference. Note that extremely low liquidity will only work if you aren't trading with a large volume. If your trades are only a couple hundred dollars, then these tiny pools will work.
Next is the pair age.
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@dexscreener I choose 720 hours...which is one month.
The reason is because 90% of honeypots/rugpulls do so within the first hour or two.
Another large handful rug within a week. Only screening coins that are at least a month old reduces the scams to <1%
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@dexscreener After that I'm looking at 24hr change. At least 2%
Why?
We are looking for coins that are pumping. If the price has increased 2% or more in the last 24hrs then momentum is likely on the upside.
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@dexscreener Finally the 5min change. 0.5% minimum and 3,000 volume. That captures the tokens that are seeing upside momentum RIGHT NOW.
Then the fun begins...
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@dexscreener When coins appear on your screen click on it. The default timeframe is 15min. First click to Daily.
IDEALLY there will be an obvious trend upward (these are the easiest to scalp profits). Lately, however, those don't happen so often. So I look for at LEAST 2 days of green.
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@dexscreener Next, copy the contract address and go to @Token_Sniffer and do a smell test. This is to see if it's a honeypot or has malicious code.
This one scores a 55 (not bad...never trust 100%...those are almost always scams)
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@dexscreener@Token_Sniffer Nowadays protocols don't renounce ownership often anymore, so I'm ok with this.
I also like to scroll down to see similar contracts.
The fact that this contract is similar to known scams is a red flag...but I won't count it out yet. Now time to look at the block explorer.
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@dexscreener@Token_Sniffer I'm only looking for short-term profit, so I'm really just concerned if it's a honeypot. As long as I can sell, I'm cool.
To check this for sure (cuz sometimes they can get around TokenSniffer) I look at transactions.
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@dexscreener@Token_Sniffer I choose three random SELL txns of a significant amount (preferably over $200)
First, I make sure the wallet addresses aren't all the same.
If only one wallet is ever making sells, that's a bad sign.
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@dexscreener@Token_Sniffer I then click into each wallet and scroll through their txns looking for "Transfers"
I'm looking for private wallet addresses money has been transferred to or from. If there aren't duplicate addresses in any of the three wallets, I'm good.
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@dexscreener@Token_Sniffer THEN it's good to trade.
At this point you can deploy whatever your favorite scalping strategy is.
(I'll share mine in a future thread).
@dexscreener@Token_Sniffer@MoonarchApp I simply go to the home screen of my favorite chain (#Fantom...duh). Then I look at Top gainers. I filter by 5min gains. I'm looking for tokens that have 5min, 10min, and 30min in the green.
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@dexscreener@Token_Sniffer@MoonarchApp When I find one, I click on the Dexscreener link and check the numbers. Does it have adequate liquidity? (sometimes these are brand new tokens with like $50 in the LP).
How old is it? Etc.
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@dexscreener@Token_Sniffer@MoonarchApp If a token passes these checks, I'll put it through TokenSniffer and go through the rest of the process to make sure it's safe.
and the Negative Directional Indicator crosses below the Positive Directional Indicator. This means the momentum is on an upswing.
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@dexscreener@Token_Sniffer@MoonarchApp There are TONS of other parameters you can use (even candlestick patterns), so you'll want to play around with this.
Anyway, this is how I find often obscure alts that are making intraday moves.
Now let's talk about a couple of actual strategies. Here's a thread (31 tweets) on using charting indicators for scalping.
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First, I want to discuss a couple of my ground rules. 1. I don't do leverage (right now). 2. I don't short (right now).
This means I'm only looking for upward momentum so I can buy.
So I preface this by saying that in bear markets this can be more challenging.
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So step one, I'm looking at the daily chart to determine the overall trend. I really want an obvious upward trajectory, but a solid rebound from a downturn works too.
What that means is, NO TRADING CHARTS THAT LOOK LIKE THIS! ⬇️
In it he discovered the function in question: boostRewards.
Before this, it was likely that most non-devs wouldn't have known this was suspicious
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One thing that sticks out to me though is that this was an OnlyOwner function.
So, I'd like to suggest to anyone looking at getting into a new protocol...consider looking at the contract and search for all of the "Only" functions.
Hey newbs.
Quick question.
You've heard the phrase "not your keys, not your crypto" right?
But do you know what that really means?
Let's talk about it.
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Obvi the phrase refers to your private keys to your crypto. And if you don't have them, or own them, then you don't own the crypto. Right?
Kinda like how when you buy #crypto on Robinhood or PayPal, you can't transfer it out. You can only buy and sell.
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Well that's part of it, yes.
But it doesn't just refer to those specific instances.
When you keep your crypto in a CEX, you don't have sole access to it either.
I mean, sure, you can send it out, but if it's in there, the CEX can bar access to it...
My attempt at humor in the dark times.
What kind of #cryptotrader are you?
Everybody invests differently, but there are some common themes among trader personalities. Do you fit in any of these?
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- the tech analyst
”I’ll place an entry as soon as the stochastic crosses the MACD line and hits a Fibb level on the third Gann line”
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- the fundamentalist
“Your magic #TA 8-ball couldn’t predict this, but fed is raising rates tomorrow and if Powell scratches his nose it means six more months of low crop yields so SELL NOW”
Let's look at some basic #TA for $LUNA shall we?
The purpose is to see if there were any signs before the bottom fell out on $UST on May 9th 2022 (UTC).
Before we do so, let me first state that I completely recognize that hindsight is 20/20....
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Also, our brains are really good at recognizing patterns even when there aren't any.
I want to reiterate too, that I do not believe #TA can be effectively used to predict the future...especially black swan events.
HOWEVER...
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Things rarely happen in isolation. Humans are messy creatures. We leave clues, even when we don't mean to.
And the charts always reveal those clues.
So I just wanted to explore if there were any left before the #Terra ecosystem collapsed.
"TA doesn't work on memecoins" or "TA doesn't work on alts" or "TA doesn't work on $BTC" etc.
I see so many people talking about how #TA doesn't work.
All that does is tells me they don't really know what TA (technical analysis) is.
So here's a 🧵 on it.
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What is TA (technical analysis)?
Before we get into what it IS, let's talk about what it's NOT.
It's not magic tea leaves that predict the future. A lot of people have this misconception that the purpose of TA is to predict the future, but this isn't quite true.
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TA is more of a forecasting tool.
Forecasting assigns probabilities to potential outcomes.