ZIGNALY is an amazing trading platform focused on signals. For this reason, it may be a good choice for you to trade using our signals.
If you still don’t have an account with Zignaly, you can use our referral link below to create yours. This way, you will be helping us to improve our services even more.
Below, we will explain some of the available settings, so you will be able to understand when to enable or not each one.
At the end of the article, you will also find a link to an instructions video that may help you get started, if you need.
ABOUT ZIGNALY SETTINGS AND CQS
First of all, Zignaly will ignore any base settings as soon as you setup anything on the signals settings page. So, if you have adjusted anything on signals settings, you need to put all your settings there.
You have several choices for taking profits on Zignaly. If you enable Accept Sell Signals?, then your position will be sold when the sell signal comes from our services. This happens when the first target is achieved.
If you enable Accept Take Profits Values From Signals?, then Zignaly will split your sell orders among all signal targets. It means that your base order size should be at least 0.0045 BTC, otherwise your sell orders may be created below minimum allowed order size and you will get errors. Also, your positions will only close automatically when all targets are hit, which may take more than a month for some signals.
If you enable Accept Trailing Stop Values From Signals? then Zignaly will setup trailing stop loss parameters for your position based on our signal’s recommendation.
Finally, you can setup your own take profit targets in your base settings or signal settings. Whatever take profit hits first will cause your positions to be sold.
We don’t recommend enabling Sell Signals and Accept Take Profits at the same time, since they are incompatible with each other.
BUY DEVIATION and PRICE LIMIT
All our signals come with a buy zone, which is a price range recommended for buying. If the price goes outside this range, we don’t recommend you to enter the position. Enabling Allow the limit price parameter from the signals? will make your position be opened only if the price is below the maximum price from the buy zone. Using this setting will not allow your Buy Price Deviation to work, so you should enable one of the two settings only.
You can use a default stop loss from your base or signal settings and/or enable Accept Stop Loss Value From Signals? to use our recommended stop loss automatically.
Take in mind that using STOP LOSS will cause some positions to be sold at loss, which means you will lose money when it happens. You may consider using DCA instead to handle negative positions.