Hi, crypto enthusiasts!
If you’re watching Lesson 12, then you’re definitely interested in crypto.
Today’s lesson will be dedicated to copy trading and auto-following.
In order to start earning on the difference in cryptoexchange rates, you need to know:
* What are signals in crypto?
* How copy trading works?
* What are the copy trading rules on our platform
* And at the end of the lesson, we will launch a copy trading channel.
In the crypto market, there are many Telegram channels where trader-analysts, who came from the stock market or newborn in the new crypto market, offer you to buy a subscription to signals.
What are these signals?
In these signals, traders provide information on at what price to buy and target prices at which prices to sell (these options are called Take Profit),
and depending on whether you choose a risky or more conservative strategy, you choose at what price to sell.
There are usually from 2 to 7 taregts for selling prices, most often 3-5.
If I am not ready to take risks, I will choose the lowest price, if I want to earn more but am ready to take risks, I will choose the highest.
To better understand the signals, let’s look at important terms for automated trading.
Take Profit (TP) means «to take the profit from the trade». It determines the target profit level.
If the price goes in the opposite direction to what the trader predicts, Stop Loss is specified for this case.
Stop Loss (SL) means «stop the losses from the trade». It fixes possible losses and is set to minimize risks.
I showed all the examples in our system.
In our automated signal service, you receive a signal not in Telegram, but in the system,
and you can immediately enter it with all the data already filled in
and the chart visually displayed.
All statistics are also open and automatically displayed on the chart.
To use this service, you need to make a decision about which coin to enter and which not to.
I recommend starting to use it after a month or two of monitoring the market and finding your favorite coins.
Copytrading is a very simple tool for you as a user. You just add API keys and the copying begins.
Experienced traders make trades for you, and a system for you just copies those trades.
This service is ideal for inexperienced users, as there are no settings at all, the trader does everything for you, and your funds are kept in your account.
But to start using Cryptorobotics’ copytrading service, you need to follow a few simple but very important rules:
- For copytrading, you need to allocate a separate account on the exchange, with a separate balance.
- The balance must be no less than the minimum specified in the channel, otherwise errors may occur.
- The size of the trade is always proportional to the trader’s trade, so by copying his trades, you fully trust him to open and close trades.
Shall we start the channel?
We give all course participants a 1-month subscription to the E-Trade USDT channel.
Now we can launch it.
- Go to the Algotrading tab and select Copytrading — E-Trade USDT.
- Study the channel requirements.
- Connect API keys from the Binance exchange.
- Top up the Binance balance with an amount of at least 500 USDT.
- Return to the Algotrading tab and select Copytrading — E-Trade USDT.
- Choose Settings.
- Add keys.
- Save settings and start.
The slide contains links to videos and text instructions.
They are more detailed and you can always refer to them. All instructions are also available on the platform in the Manuals section for quick access.
Take new words and good luck copying trades!)
See you at lesson 13.
This was Alina!