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Setting the bot to use trading signals on 3Commas
Setting the bot to use trading signals on 3Commas
Updated over a week ago

🔹 Closing a profitable or a losing trade:

Some signals are capable of closing trades automatically.

How it works: you receive the first signal to start a deal and the bot starts working, it opens a position. After a while, the signal provider decides that it's time to close the deal and sends another signal with the command “close”. In cases like these, the signal provider recommends setting a take profit to about 20% or 30% to be sure that your Take Profit does not close the deal too soon before the “Close” command is sent.

🔹 Preset Stop Loss

Some signals are based on algorithms, tested by the provider, that use a specific % setting for Stop Loss. Backtesting shows that if you follow every single signal, then over time, according to statistics, there will be more profitable trades than losing ones, meaning that the overall profit will be greater than the losses suffered as a result of following this strategy.

Use the settings recommended by your signal provider. The Stop Loss settings will be automatically applied to every trade your bot opens.

Some signal providers may send your bot Stop Loss settings which are changing, so they are different for every trade; if you don't want it to be this way, contact the provider, because their settings will overwrite your Stop Loss settings.

🔹 Exchange

You need to choose an exchange where you have available funds.

Next, select the Multi-pair bot type (unfortunately, for any futures exchange only Single-pair bots are available) and trading pairs (BTC_ALL; USDT_ALL; PAX_ALL, etc.). Choose the currency you would like to accumulate, and then set the bot to use this currency for trading. It also affects which signals you need to subscribe to - it would be strange to only be subscribed to the signals for USDT when you are interested in accumulating more BTC.

Good Luck 💰💰💰

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