At TradeSignals, we pride ourselves in our ability to provide hundreds of highly converting signals daily but how those signals are used ultimately depends on you.
In this blog post, we will consider three methods by which you can apply signals published on our platform. These are referred to as
- Trade taker method
- Bot method
- Manual method
Irrespective of whatever method you use, every signal published comes with important information about price points for entering and leaving the market. These price points are labelled as Entry, Range and Take profit as shown below
Please note that you need to have a trading account with crypto exchanges (in this case Binance or Huobi). If you are new to trading and don’t have any trading account, please visit binance website or huobi website and create an account there. You can also download their mobile apps.
Once your account is ready and funded with your trading capital, you can now proceed with any of the methods below to apply signals from TradeSignals.
Trade Taker Method
This is a built-in feature of the TradeSignals platform that makes it super easy for you to apply published signals without having to juggle multiple apps. As shown in the image above, all you have to do is click the “Take trade” button and voila, a trade is placed for you.
Of course, this method won’t work without first configuring it to do so. The steps below describe what you need to do to get it working.
- Login to your TradeSignals account
- Go to settings from the menu. On the settings page, locate the “Trade Settings” section.
- Choose your preferred exchange.
- Next get the required API keys from your account on the exchange platform. Make sure to copy the keys as they will only show once.
a. Click here or here for steps on how to get binance API keys for your trading account. Under “API restrictions”, make sure to check the “Enable spot & margin trading”. Also check the “Restrict access to trusted IP’s only” under “IP access restrictions” (The IP to use will be provided in your Tradesignals account).
b. Click here for steps on how to get Huobi API keys for your trading account. Make sure to check the “Trade” box under “Permission settings” for the API.
- Enter the copied keys to the appropriate section of your “Trade settings” on TradeSignals and submit.
The Bot Method
This method involves the use of trading bots like RoyalQ to not only remove the stress of the manual process but also to increase your profits through the application of Dollar Cost Averaging (DCA). While this method can be used with most trading bots, this guide will focus on how to use it with RoyalQ – one of the most versatile and affordable bots out there.
Follow the steps as outlined below
- Create a RoyalQ account and follow the steps in this video to set it up (use PW29V as referral code where necessary). If you already have an account, just login using your details.
- Once you have setup and activated the RoyalQ bot, go to strategy settings by following the steps as labelled in images below
- Add trading strategies as shown below by filling the appropriate fields. The “whole position take profit ratio” field is equivalent to the percentage profits offered by our signals and guaranteed to be successfully. So if you wish, you can choose to not use our percentage profit settings.
- OPTIONAL: You can set “margin call limit” field in the image above to be more than 1. This will allow you benefit from the DCA features of RoyalQ, hence, more profit for you. Sample settings for a margin call limit of 3 is as shown below
- Once done with all the configurations, click the “Save” button located at the top-right section of the Strategy Settings page. After this, you should see something like the image below
- As a final step, apply the saved trading strategy to all currencies in RoyalQ by following the steps in the images below
- Henceforth, anytime you want to apply a signal published on TradeSignals, all you’ll have to do is open your RoyalQ app, select the currency and click on “start” as shown below
As shown by the yellow boxes, confirm to make sure that your strategy settings is actually the one in play. RoyalQ will handle the rest buying the asset and selling at expected price to earn you your profit.
The Manual Method
This method is the same as manual trading on exchanges where you buy a currency pair by creating market orders. Let’s use Binance as an example for how to apply the sample signal above.
- Follow the steps in the picture below to get to the AAVE/USDT market on binance
- Place order using the Entry price (63.8) provided in the signal as shown in the image below. The quantity/amount of AAVE to be purchased depends on you. Make sure you have enough USDT to make the purchase.
- Once you have successfully made the purchase, create a sell order as outlined below using the Take profit price (64.4380) provided in the signal for AAVE. Please note that we used 64.5 below because binance accepts only 1 decimal place for AAVE
Once all the steps above have been completed, all you have to do next is sit back and await your profit.
Now, remember that we publish 100’s of signals daily. Imagine what it will be like having to repeat the steps above multiple times daily – stressful don’t you think? This brings us to the second and most preferred method.