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❓Common Questions
Some frequently asked questions that have been explained in detail to help assist you with any issues or understanding with terminology. 🙋♂️
👨💻 What is Listing Sniping?
Listing Sniping is a trading method used to maximise profits on launching projects/tokens. The idea behind Listing Sniping is once a project or token with popularity adds liquidity, a swarm of users will begin to buy, therefore driving up the price massively. To make the most out of those price increases, ideally, you want to be the first person to make a buy order so you can maximise your profits after the tokens price sky rockets. This is quite hard to do manually, which is why we have bots that constantly scan the Ethereum mempool, looking for the liquidity add transaction, and once it confirms it immediately sends a buy transaction. If you would like to learn how to use Looter's sniper, head over to the Snipe Orders 🎯 section of this guide!
👨💻 What is a Limit Buy Order?
Limit Orders are used in all different types of trading. It involves setting a price you may have in mind that you believe a token will hit, and buying it once the token hits this price. This is all done automatically with Looter and controlled from Telegram. No need to constantly stare at token charts looking for the right price to buy, simply set your desired buying price and the amount you wish to buy, and Looter will do all the work for you! To learn more on how to schedule a limit order with Looter, head over to the Limit Orders section on this guide!
👨💻 What is a Limit Sell Order?
Limit Orders are used in all different types of trading. It involves setting a price you may have in mind that you believe a token will hit, and selling it once the token hits this price. This is all done automatically with Looter and controlled from Telegram. No need to constantly stare at token charts looking for the right price to sell, simply set your desired selling price and the amount you wish to sell, and Looter will do all the work for you! To learn more on how to schedule a limit order with Looter, head over to the Limit Orders section on this guide!
👨💻 Can I import my own wallet into the bot?
Yes, you can import any pre-existing wallets you have into the bot. To do this, head over to the Manage Wallets section of the bot and select which Wallet (W1, W2, W3, W4, W5) you would like to replace with your own. Once selected, use the Import button to import your own private key and use your personal wallet with the bot. For a more in-depth guide with images, refer to the Managing Wallets 💼 section of this guide!
Please note that the Looter team does not have any access to viewing private keys, this also applies to removing wallets via regeneration or importing - we are unable to retrieve or access private keys at any time so note them down. ⚠️
👨💻 Can I cancel a Limit Order or a Snipe Order?
Yes, you can cancel any orders you have made that aren't yet published to the Ethereum chain. To do this, head to the Limit Orders or Snipe Orders section of the bot and you will be greeted with all current pending Limit/Snipe Orders you have set. From here, you can edit and delete them if you have changed your mind about an order.
👨💻 How does the Miner Tip (Bribe) work?
Adding a miner tip onto your sniping transactions will assist in getting quicker transaction confirmation from the miners. Using additional ETH on top of the Ethereum gas fees makes your transaction a priority to the miners and it will be picked for confirmation over other transactions with lower fees. Please note it is not mandatory and feel free to use the bot without using this feature, however it will help in getting those very important first transactions in blocks when liquidity is added to a token!
👨💻 How does Looter's Dynamic Tipping work?
Dynamic Tipping is a revolutionary feature to the market for sniping, only available exclusively with Looter, the bot with the best tech ;) ! Also known as Tip Saving, it works by calculating the total block's tip before the block is even mined and dynamically adjusts the tip you configured to achieve the best possible transaction placement among other snipers and other bots. This is all done automatically with no extra configuration passed down to the user and the final bribe amount will not exceed your original selection! Pretty neat right 😉
👨💻 How does Slippage work?
Slippage is the difference between the expected price of an order and the price when the order actually executes. With crypto being so volatile, the price of an asset can fluctuate fast depending on trade volume and the amount of liquidity - if the liquidity is low for a token, the price will be fluctuating much faster. Slippage allows for a percentage window of success for a transaction, setting a slippage percentage will guarantee the order is received and executed within the percentage - if not, the order will cancel automatically as the price fluctuated over the given percentage.
Some tokens may have buy/sell transaction taxes embedded into their contract and this must be accounted for when setting a slippage percentage. Use the token's transaction tax + your desired slippage and that will be your final percentage.
👨💻 How does Max-Market Cap work?
The Max Market-Cap setting acts as a failsafe for the snipe transaction. If the market-cap of the token you are sniping exceeds your chosen amount before your snipe transaction has confirmed, it will revert and cancel - further preventing any possible losses. This is in place to prevent loss on a mass-botted listing where dozens of bots are targeting one listing and the price gets inflated immediately after liquidity is added.
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