Know this and become successful in degen trading.

⚡ Step-by-Step Guide to Being a Successful Degen Trader

1. Learn the Basics (Even Degens Need Brains)

• Understand what memecoins, slippage, rugs, liquidity, and market caps mean.
• Get familiar with tools like Dexscreener, Dextools, GeckoTerminal, etc.
• Know how to read a simple chart (support/resistance, volume spikes, etc.).

2. Set Up Your Arsenal

• Use wallets like MetaMask or Rabby.
• Load them with ETH/SOL/BSC depending on chain.
• Use trading bots like Trogan, Maestro, or Banana Gun for fast entries.

3. Use Trusted Sources for Alpha

• Follow alpha callers, Telegram degen groups, X (Twitter) threads, and whales.
• Join early-stage communities or whitelists.

4. Master Entry Timing

• Snipe fresh launches with low liquidity but do your due diligence.
• Be first in, first out (FIFO) unless you have solid conviction.

5. Secure Profits Ruthlessly

• Never marry a coin. Degen coins can pump 100x and rug in an hour.
• Use a system: take partial profits at 2x, 5x, and moon shots.

6. Risk Management

• Don’t go all-in. Use small bags ($20–$200 per coin) unless you're certain.
• Diversify across tokens and never chase pumps blindly.

7. Watch the Charts Like a Hawk

• Use live trackers like Dexscreener alerts.
• Pay attention to buy/sell walls, whale dumps, and liquidity locks.

8. Stay Updated in Real-Time

• Use Telegram/X notifications.
• Join degen channels where alpha drops instantly.

9. Don’t Get Emotionally Attached

• Degen life is fast. Don’t get greedy. Don’t get wrecked.
• Exit when you're up, even if it "might go higher."

10. Journal and Learn

• Track every trade. What worked, what failed?
• Get better with every round. Don’t just degen—refine.

Bonus Tips:

• Rugs are part of the game—expect them.
• Most 100x gains come from being early, not buying hype.
• Your wallet is your identity—stay anonymous but smart.