đŖCopy Trading
Last updated
Last updated
With Magnum, you can follow the trades of master traders you know, with their trading wallet address with our Copy Trading Bots. Magnum will execute trades from your wallet following (or even ahead of them) their trades.
Here is how you can create a Copy Trading Bot.
Tap the '+' button in the bottom right of all the main screens and select 'Bot'.
Select 'Copy Trading' from the Bot Type dropdown. You will see the form to create a new Copy Trading Bot.
Select your blockchain network and platform to follow trades in. You can create multiple Bots if you want to copy trades from same address but on different network or different platform.
Enter the address you want to follow in 'Source Address' and select one of your wallets to execute the trades from.
Enter the maximum spend limit and decide a scale on which you want to copy the trades. Let's say if you want to take trades of 50% amount of the original trade, enter 50 in copy scale.
Select if you want to copy their Buy, Sell or both types of trades.
Advanced filters is an optional toggle. If you toggle it on, you can pass extra filters for more safety and targeted profits. These filters include token marketcap limits, liquidity restrictions, tax limits and honeypot warning consideration.
Recheck all your inputs and create your Copy Trading Bot. After creation, you can enable, disable, edit or delete the bot under the tab Copy Trading inside Bots tab.
The blockchain network you want to trade in. Ethereum and Binance Smart Chain are supported at the moment, more coming on the way.
The Swap Platform you want to trade into. Your selected platform must have the liquidity for the traded token pair. Uniswap and Pancakeswap are supported at the moment, with more on the way.
The address that you want to follow and copy the trades from. Source must be an Address and not a Contract on the selected network.
The max amount limit of a single transaction (in ETH/BNB) that you want to trade with. If the source address does a trade that exceeds this amount, your trade will still be executed, but with the max amount limit.
The scale in which you want to copy the trades (in Percentage). For example if you want to take trades of 50% amount of the original trade, enter 50 in copy scale. If the amount still exceeds the spend limit, transaction of the spend limit will be executed.
Select which types of trades do you want to copy from the source address. Options are Buy, Sell or Both.
These filters are used to manage risk, safety and to better handle targeted profits. If you don't understand the filters, you can decide to uncheck them and no filters will be applied. These filters include,
Max and Min Marketcap : Only the tokens with marketcap between these limits will be traded. Other trades will be ignored from copying.
Max and Min Liquidity : Only the tokens with liquidity in provided range will be trade. Other trades will be ignored from copying.
Buy and Sell Tax : Only the tokens with taxes below or equal to the entered percentage will be traded. Other trades will be ignored from copying.
Honeypot Check : If the token does not pass our Honeypot check, it raises a red flag and that trade will be ignored from copying.
We are soon launching the Copy Trading Frontrun feature where your trade will be executed ahead of the original trade. This gives you better profits, at a high gas fee as the cost for it.
All the transactions on Magnum are Private Transactions. So you are protected from the MEV Bots at all times.
