1. Find a candidate address
Start from an on-chain transaction, not a screenshot or social-media username. Copy the address exactly and label why it matters: early entry, repeated exits, launch participation or consistent position sizing.
2. Verify the transaction trail
Use a block explorer to confirm signatures, times, token addresses and flows. Solana’s documentation shows how signatures can be inspected in Explorer. Separate swaps from transfers; receiving tokens from a deployer is not the same as buying them.
3. Score behaviour, not one winning trade
Measure many closed outcomes, time held, size relative to liquidity, average entry, fees and losses. Exclude airdrops and transfers. Check whether apparent wins depend on buying before the public could reasonably enter.
4. Paper-test the delay you will actually have
A follower enters after the tracked transaction and often exits later. Simulate that delay, impact and fee load. A profitable source wallet can still be an unprofitable signal for everyone following it.
What copy trading means
Copy trading automatically or manually mirrors another trader’s actions, often in proportion to the follower’s balance. The FCA notes that platforms may add allocation and risk controls, but copying does not remove investment risk.
References: Solana transaction inspection and the FCA overview of copy trading.