Frequently Asked Questions

What about the Bitmex Symbols?

Simple rule. the symbol name plus H19 except BTC and ETH which is BTCUSD and ETHUSD.

BCHH19
LTCH19
XRPH19
EOSH19
TRXH19
ADAH19
BTCUSD
ETHUSD

The Bitmex suffix changes every 3 months H19 is valid until february 2019.

The profit on the signal in the channel is higher than the profit I gained?

The profit in the channel is on the target reached. when entering a trade the bot calculate the profits according to average buy zone, avergae selling price and fees.

How to create a signal with free text

Instead of navigating to the Trading bot and create your trade step by step using the buttons of the bot. It's also possible to copy a 'free text' into the bot.

To do so:

Go to the bot: Trades --> Create --> Free Text .

Now the bot asks you for a template. Please use the following template as an example and adjust it to your needs:

Long

ltch19
bitmex
buy 38500 - 39100
sell 39799, 39851, 40111
stop 35700
leverage 10

 

Short

TRX/BTC
Exchange: BitMEX
Leverage: 10.0X

entry 608 - 620 - 634 - 647 - 660

sell 593 - 585

stop-loss 690

Bitmex Stop

As of today (20190213) the default type of stop for Bitmex is 'Market'. If you would like to use a 'Limit Stop' please adjust so under configuration. Please note no type of stop on Bitmex is a guarantee you can actually close the position where you intended as some wicks are very fast and orders just may not get filled. A risk of using Bitmex.

How do I set up stop correctly?

Setting up your stop correctly,

If a signal from our traders is followed, the stop defined by the trader will be applied by default. When this signal is for Bitmex a 'Market Stop' will be applied by default.

In case you open your own trades with the bot, it is good practice to place a Stop Loss (SL) where the trade will be closed to reduce more losses. For Binance a stop limit order is safe to use. Because of the flash wicks every now and then on Bitmex, a 'Market Stop' is the default type. We believe this gives us the best chance for an effort to close the trade more or less at the level defined however this is not a guarantee it will in practice.

Apart from Bitmex:
When talking about stop limit orders, there are 2 prices, the trigger price and the limit price.
The trigger price is the price defined in your trades under the stop orders.
The limit price is basically calculated as the trigger price minus the stop limit price reduction parameter in the configuration (or plus, depends if it's short / long / sell / buy)
In order to change that go to Configuration > Stop Limit Price Reduction.

Please see our video below for more information:

https://www.youtube.com/watch?v=W3Abyz4LBy4

How do I set leverage?

When inside the bot on Telegram please do the following:

Go to main menu --> Configuration --> Leverage for the default leverage settings. Make sure that you changed the leverage in the configuration for the right client and the right symbol.
You can also set the leverage at the top of a call to whatever you want. If the trader adds the leverage it will override your basic settings.

What is a trailing stop and how do I use it?

Buy advanced bot
There four types of trailing Stops:

The goal of the trailing stop helps you secure and lock-in profits made in trades managed by the trading bot.
The trailing stop is a great tool when used correctly so you should try to familiarize yourself with all four different trailing stop types our bot offers.
The difference between trailing take-profit/entry and the trailing stop and that the two former trailing types are activated on the order that is reached only, while the trailing stop is activated on the rest of the amount that is left in the trade.

Let’s consider the following trade as we explain the 4 different trailing stop types:
Entry Targets:
1) 0.003 (50%)
2) 0.002 (50%)
Take-Profit Targets:
1) 0.004 (50%)
2) 0.005 (25%)
3) 0.006 (25%)

The following are the different trailing stop types:
1. Breakeven: This trailing stop type will move your stop to the average entry price once the first take-profit target is reached.
In the above example, the average buy price will be 0.0025, so once the first take-profit is reached the stop will move to that price.
As mentioned, the stop will be activated only on the amount remaining.
In this case, since 50% of the amount is sold in the first take-profit target, the stop will include the remaining amount which is the remaining 50% of the trade.

2. Moving Target:
When using this type of trailing stop, the bot will move your stop to the price of the previous take-profit target, the one before the new take-profit target that is reached.
More specifically, when the first target-profit is reached the stop will be moved to the breakeven price, when the second's take-profit target is reached the stop will be moved to the first take-profit target price and so on.
In the above example, when the first take-profit target is reached the stop will be moved to 0.0025 (the breakeven price) and will contain the remaining 50% of the amount.
When the seconds take-profit is reached, the stop will be moved to 0.004 (the first take-profit price) and will contain the remaining 25% of the trade amount.

3. Target Percent:
Using this trailing stop, the bot will move the stop to the specified percent below the take-profit target that is reached.
Let’s assume for this example that the target-percent is defined with 5 percent.
In the trade example above, when the first take-profit target is reached the stop will be moved to 5% below the target price, which is 0.0038, When the second take-profit target is reached, the stop will be moved to 5% above the target price, which is 0.00475.
Just like before, the stop will only include the amount that was not sold in the other take-profit targets.

4. Percentage:
In this case, when the first take-profit is reached a trailing stop will be created the specified percentage below the target price, and will keep trailing that same percentage below the maximum price that is reached.
For example, if the percentage is defined to be 5%, then when the first take-profit target is reached a trailing stop will open 5% the target price, at 0.0038, on the remaining 50% of the trade amount.
Then as the price keeps increasing, the trailing stop that contains 50% of the trade amount will keep trailing 5% below the maximum price that is reached.
When the second take-profit is reached, the trailing stop will keeps trailing 5% behind the maximum price.
However, the amount of the new take-profit target that is reached will be removed from the trailing stop, and will be sold (either sold immediately or a trailing take-profit will be activated on that amount, depending on the trade configuration).
The trailing stop at that point will contain the remaining 25% of the trade amount and keep trailing 5% behind maximum price that is reached.

Trailing stop configuration:
You can now select to disable the trailing stop by clicking the Without option, or alternatively select one of the different trailing stop types to set them as your default trailing stop.

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Do I still have to move the stop loss manually to break even when a target is reached or is this done automatically?

Set this by going to Configuration --> Trailing --> Stop --> Choose Trailing Type --> Breakeven.

Where can I see the status of my membership

You can see the status of your membership by going to this link: https://t.me/VerifiedCryptoTradersBot?start . You'll see a button there where you can see your subscriptions and details about your subscription.

The bot says that I can renew my subscription. Do I have to do that now?

No you don't. It's a feature within the bot to make it as easy as possible for our members to renew the subscription. It's not needed to, but you are able to renew your subscription through the bot.

Still having questions? Don’t hesitate and use the form below to submit your question!