What are Marketplace "Signals"?
A trade signal is a trigger for the action, either to buy or sell and what cryptocurrency pair to trade, generated using proprietary strategies and algorithms created by Signal Providers.
You can use these signals as a strategy for your 3Commas bots to trade with.
3Commas offers a "Marketplace" where you can find different sellers who offer a monthly subscription to their signals. Some providers offer their signals for free and others charge. Typically the higher the quality of the signals, the more the subscription cost is.
How do Marketplace signals work?
Once you subscribe to a signal provider, you create a bot with settings recommended and provided on the information page of the signal provider (sometimes you are required to register on the signal provider's website to access support and bot settings).
When the bot is created, you select under it's "deal start conditions" the signal provider you have chosen. This then allows the bot to listen for buy or sell signals when sent by the provider.
Tips for choosing Marketplace Signal Providers
Every signal provider differs on:
- Exchanges they support
- Trading pairs they recommend and provide signals for
- Long, Short or both signals provided
- Whether they send deal close signals (to dynamically take profit or stop loss)
- Whether Stop Loss is mandatory and preset in the bot configuration or not recommended
When buying a subscription, attentively look through the signal description.
There you can find the bot settings, recommended Take Profit and Stop Loss settings, information about the strategy they use and their contacts.
Also, take a look at the results. Here you will see the real profit and loss displayed in % from deals which were run from other users bots that are subscribed to the signals. The signal providers do not send this information, it is gathered automatically by 3Commas to ensure the integrity of the results that other, real users have achieved.
If you see «No data» listed by a specific signal, then this is because either no-one has used this signal to open a trade, or the deal is still open for bots that are trading it.
Max and Min results are displayed and this shows the highest profit a user achieved using the signal for a specific trade and also the lowest profit that a user's bot deal closed with.
Why are the Maximum and Minimum results different?
1. Even though you are trading signals provided for you, users can still set different bot settings, including Take Profit percents (not recommended until you are very confident in using bots and signals).
2. Multiple users' bots using the same signal might have Take Profit or Stop Loss orders fill at different prices or at slightly different times depending on the Exchange
Signal Providers can offer Long and Short signals
If you’ve subscribed to a signal provider that offers both long and short signals, and you want to use trade both directions, ensure you create at least 2 different bots, one to Long and the other to Short.
If you want to know the difference between Long and Short Strategies, please read this article.
Frequently Asked Questions about Marketplace Signals
Q) I bought a signal and set up my bot, why hasn't there been any deals opened yet?
A) If you check the signaller's information page, look at the frequency of the signals being sent. Some signallers will send many deals per day (for scalping/fast low profit trades); others will send fewer signals (for swing trading, longer running infrequent deals but much higher profit targets). Please be patient.
Q) Is there any other advice you can give me to help choose a signal?
A) Yes! Look at a couple of signallers you are interested in and check for their support community details - often you can join the support group and discuss with other signal users how they are finding the signal service; also responsive support from the provider is good to offer advice for trades and bot settings or confirm when signals were last sent.
Q) Most of the signallers say to use Composite bots but I don't have this option on my Subscription plan level!
A) Marketplace signals work best on Spot exchange accounts when using Composite bots. If you are on an Advanced plan, and only have access to Simple bots, then you can still subscribe to Marketplace signals but you will have to create a bot for each pair you are interested in trading that the Signaller supports.
Please be aware that 3Commas and the Signal Providers do not offer financial advice.
The signals provided are capable of generating profits and losses and that there are no "fool-proof" strategies that only win and never lose.
When you use trading signals you will trust the managing your funds configured for the bots to the third party service (the signal provider). Your results may be differ from statistics that you see displayed on the Marketplace information screen for the signal provider. We highly recommend you to follow seller's instructions in the overview and by "How to set up" link provided for the signal service you are interested in.
3Commas or the Signal Provider cannot be held responsible for any exchange related issues that may interfere with your bot trades.
Configuring bots to use signals on 3Commas.io
Closing Winning or Losing Trade
Some signals can close the deal automatically.
How it works: you receive the first signal to start the deal and the bot starts working by opening the trade. After some time a signal provider decides that it's time to finish the deal and they will send another signal with a "Close" command. In such cases the signal provider recommends setting TP about 20 or 30%, just to be sure that your take profit would not close a deal before they send a "Close" command.
Preset Stop Loss
There are signals based on algorithms back-tested by the provider which use a specific Stop Loss %. Over time the back-testing shows that if you follow each signal, statistically there will be more winning trades than losing trades and the profit will be greater than the losses incurred following the strategy.
Please use the recommended setting from the signal provider. Stop Loss will be automatically applied to each of the trades your bot opens.
Some signal providers can send automatic Stop Loss settings to your bot that change for each deal that is opened; if you do not want this please check with the signal provider, as their setting will override any Stop Loss percentage you define.
Of course, you need to select the exchange on which you have funds. After that choose the composite type of bot (unfortunately not available for Futures exchanges) and the currency pairs for trading (BTC_ALL; USDT_ALL; PAX_ALL etc) . Look what currencies and amounts you have on the exchange and decide which currency you want to accumulate more of and then configure the bot to use this currency for trading; this will also influence which signals you subscribe to - after all, it is not good subscribing to signals for only USDT when your interested in accumulating more BTC.
It is very easy to create a bot with trading signals
Choose composite bot, select a linked exchange on your 3Commas account that is supported by the signal, then choose the pairs recommended by the provider, or all of them if no specific pairs are mentioned, for example: BTC_all, USDT_all, etc.
Then set Long or Short strategy, and enter deal volume that each trade should use. Stop Loss and Take Profit should be configured according to the signal provider's recommendation. Set the number of active deals if needed to tell the bot how many trades it is allowed to open simultaneously.
Finally, select the signal to use as the deal start condition and click "create".