A signal service provides real-time trade reccomendations. This allows you to leave the complex data analysis to us. You simply execute the trades when prompted. With a smartphone, trades can be made in seconds from anywhere.
The first step is to download the Telegram messaging app and join the Tradefractal Signals channel. Once you have subscribed, you will be able to see the trade signals in real-time.
Of course, you will need to setup and fund an exchange account. Coinbase provides a convenient way for US customers to purchase a limited number of cryptocurrencies with a credit card or bank transfer. You can then easily transfer your funds to the exchange of your choice. We recommend starting with Binance as your first exchange account, and our first signals will be generated for this exchange. Look for a video soon that details the account set up and funding process.
Initial stop-loss should be set at 2.5% for signals. The initial profit target should be set at 2.5%. A trailing stop-loss arming at 1.5% with a .5% trail, is recommended. Position size should be adjusted depending on your personal risk tolerance. These are general recommendations. You are responsible for your own profit and loss settings.
The average hold time to hit profit targets will range from a few hours, to a few days. Stay in the trade until you hit your profit target, trailing stop-loss, or your hard stop. Signal frequency will vary with market conditions, and there may be days with no signals. It is always better to sit on cash than force a bad trade. Customized settings for individual coins are being developed now, and will be released soon.
The service will start with the USDT markets on Binance. Think BTC,ETH,LTC,BCC, and a few alt-coins trading against USDT. These offer plenty of volume and liquidity for our purposes. Additional exchanges will be added as we move forward.
An additional tool is usually required for the simultaneous setting of a stop-loss, trailing stop-loss, and profit target. Cryptohopper is a cloud-based trade bot that facilitates this and more. They offer a 30 day free trial, with monthly subscriptions ranging from $19 to $99. It is a great tool, even if you prefer to trade manually. We have applied to be a listed signal service on the Cryptohopper platform, and are currently awaiting approval. Once approved, this will allow Tradefractal to send trade signals directly to your bot for execution. This will provide a great solution for passive income to our signal customers.
For the time being, we have set the Telegram channel to public, and signals are available for free while we get the kinks worked out. Your feedback is greatly appreciated! We will be moving to a subscription model with a free trial shortly. If approved, the Cryptohopper signal subscription will cost $12/mo, and be paid with your Cryptohopper subscription plan.