[Tutorial] Crypto MasterBot 2.0 – Trade free signals
Trade free signals is suitable for both beginners and professional investors. The most common kind of signals are news. Trading news is called fundamental trading and a usual way to make profit. The other kind basing on technical indicators. An indicator calculates values basing on the actual price movements. Expert advisors use their data and when something happening, for example, an indicator value is bigger as a second one and cross the value of a third indicator, a signal is triggered. The direction of the crossing could be the expected market price movement. Technical indicators are available for free and sometimes for purchase, but please be careful, many strong marketed indicators and triggers are useless. This website exists to show you, how you can really start to trade using only proved ones.
This article shows step for step how to start trading, but it is a bit long. You may add them to your bookmarks, since you should use this text at least the next week as reference, until you remember each step detailed. If you have addition questions, don’t hesitate to email to [email protected] or use the simple contact form. Don’t forget to add your email address to the newsletter to the right to stay always informed.
Getting a good technical indicator will not make you rich by magical. You will need some feeling, before you really maximize your profits. Some indicators work great in some market conditions, in others, they won’t make any profits. I personally like to demonstrate signal generators by trading them “blind”, as the signals come in, but when you know nothing about Support and Resistances, you will give away a lot of money. Please read this post to the end, to learn, how to trade free signals successful.
Starting with the signal generator:
Crypto MasterBot 2.0 is the most advanced and most usable autotrader I have ever used. Getting a free license is very easy. At the main page are two buttons,one for the demo- and one for the real money account. Don’t be afraid, you can change the account to any times. Both buttons open a popup. Just type in your personal information. Don’t forget to remember the automatic generated password, if you didn’t change it. For later log ins use the button on the top right.
Warning: Use a real existing phone number. Brokers needs to prove your identity to send you money. So you cannot withdraw, until you contact your broker.
Warning: Always follow the link on the blog of your trust or your bookmarks. A very common scam technique is to copy the pages of real working solutions.
The system log you automatic into the web based dashboard. The design is very simple. It bases mostly on blocks with headlines. But before you really start, think about one of the most important rules: Don’t interfere in the strategy! The most common reason for beginners to lose money is to break their strategy. Market prices go up and down, getting panic if the price moves in the wrong direction leads to the same mistakes as getting happy if the price moves in the right direction. Never ever forget about this.
The free demo account:
earn-money.today contains a trading demo, that helped already hundred people to make their first steps. The system creates on your first visit an anonymous trading account. The access become stored in your browser cookies. When you delete your cookies, you will lose the access to your trading account. It is better to link the trading account with a password-protected blog account.
To create your free blog account, just click on the Register link above of the login form on the sidebar. The form needs current just a login name, a valid email address and optional a visible name, this will may change in the future. The random password get sent to your inbox. Please change it after your first log in. Don’t forget to add your email address to the newsletter, that is current not done automatic.
Visit the trading demo now, while you are logged in to your new blog account. The trading demo scans now for an anonymous account and links them automatic with your blog account.
Get a chart software:
The demo has current a disadvantage, the price provider user rights doesn’t allow building indicators. If you know a price provider with more free usage rights, please email me.
One of the most used chart applications is the free MetaTrader. It was written as downloadable software but has already a web interface over the years. MetaTrader supports the version 4 and 5, since the version upgraded changed a lot and made old indicators dysfunctional. The version you use is your personal choice. Click on the Demo-Button to create a price provider account with random ID and password. I know, the many accounts nagging, but the MetaTrader demo account doesn’t really matter. They become cleaned up for inactivity sometimes, if you need a new one, create them with just two clicks.
Check the economy calendar:
The most common signals are news. Trading news is called fundamental trading. Crypto MasterBot 2.0 uses technical indicators, we cannot mix them. Technical indicators don’t matter in time of news. You should never trade a half hour before and after a news using technical indicators.
The economy calendar of investing.com is one of the most used. The website requires to deactivate your ad blockers. It contains a lot of advertising, but not over the content, so I think it is OK.
The calendar shows, when news occurs, the expected impact on the market price in the form of star icons (previous bull icons), the value of this kind of news last time, an expected forecast and the actual value, after the news released. Don’t trade an asset a half hour before and after the news with one or two start icons, don’t trade anything in the time of news with three starts, since a big news can have impacts on other assets too.
Let us start trade free signals:
A short look backward what you have now done: You own a free Crypto MasterBot 2.0 and demo trade account, probably linked with a blog account. You have access to a great chart solution and know about the economy calendar. That is all you need to start trading. But be warned: The demo account will arouse the exact opposite feelings of the real money account of the trusted broker. When you make a mistake and place a bad trade, you will be happy to use the demo account but when you become better and all works, you will be annoyed since you could make real money. So you better you become, the more you will be afraid of the demo account. As mentioned above, such emotions are poison for a working strategy. Try to push such feelings aside, that might be the biggest challenge of trading.
While it is possible to trade on mobile phones, you will on the small displays have less overview. It is more easy to trade on a big tablet, a desktop computer with mouse and big monitor is the easiest way. Just open Crypto MasterBot 2.0, the demo account, MetaTrader Web Trader and the economy calendar in four browser tabs or windows.
Preparation over, now we will trade the free signals – Time for action:
First, we will look at the economy calendar. Make sure none news with three bull icons will be released in the past and next half hour, remember, which of the assets will have news with one or two bull icons.
Next, look to Crypto MasterBot 2.0 and actual signals. Ignore the signals with news. You have now the choice to either watch all other assets parallel or decide for one and try to trade them as good as possible. A single price may never reach the optimal point you wait for, but while watching multiple prices you need to be more accurate and it is more work. Even when watching multiple prices will cause in not so optimal trades, it will bring far more money in average.
Study the MetaTrader charts:
Please note to always use the same time frame, most day trader reach with Crypto MasterBot 2.0 the best results with M15 and M30 (15 and 30 minutes) over a time of ten to thirty candlesticks. This is only general and not a rule in it, when the price moves in the right direction, there is no need to close the trade prematurely. If you use the chart display in Japanese candlesticks or as bars is your personal choice, only the line chart is useless, because it doesn’t show the shadows. The shadow is the area where the price moved in total.
There are three kinds of markets. Some are in an uptrend (called bullish, like a bull that stitch from below to above), some are in a downtrend (called bearish, like a bear that hit with his paw from above to below) and some moving between two price lines (called sidewards). Don’t expect, that an uptrend contains only bullish candles. An uptrend is defined as becoming steadily higher highs, and downtrends are steadily lower lows. But between, some or more candlesticks might in the other direction too. The sidewards moving prices are the most interesting for this article, since up- and downtrends are easy to follow.
Use Support and Resistance to your advantage:
Recall the text about the Support and Resistance. The market price base on supply and demand. When the price raise, become on some price the seller stronger than the buyer and the price will return to fall down. At some other point while the asset become cheaper will the buyers become stronger than the sellers and the price will return to going up. The trend line below the actual price is called the Support, the trend line above is then the trend line breaks, the broken trend line become the other kind. The other trend line keeps, it could be to have multiple trend lines with different strength on the chart. The more often the price touch a trend line, it becomes stronger and the other line will break more likely. For a break counts only closed prices and it is not exact. So a slight break could be a touch too. Two touches in only three or four prices counts as just one touch.
The upper horizontal line, the current price, seem to touch a current weak resistance. Below are some supports, the lower horizontal marks the lowest. More, it seems to form a triangle chart pattern (diagonal lines). This sawtooth price movement (slow in one direction, then fast in the other, then slow in the first again) is typical for that case.
It is on some charts easy to recognize the trend lines, but there an easy helping indicator: the Fractals. You find the in the menu Insert → Indicators → Bill Williams → Fractals. It has no arguments and marks the prices that are good candidates for the trend line.
To use the Support and Resistance optimal, you should wait for placing a bullish trade, when the price is as near as possible or even lower as the Support, for a bearish trade, wait until the price is as near as possible or higher as the Resistance. That is a basic strategy and bring high winning rates. Each trader should know and use it.
Now trade the free signals in the demo account:
When you think the price is near a good trend line, switch in the demo account to the asset and just click the upper button for a bullish and the lower button for a bearish signal. Now comes the hardest part for most traders: You have to wait until the price reaches a good exit point. Just wait until the price moves toward the other trend line and don’t get panic if the price moves in the other direction. The global market prices goes up and down. Do anything other to don’t always think about the trade, for example prepare the next trade if you feel fit to control multiple trades. If you just watch the price moving, you waste your own time. The demo helps to experiments as long you want. You might want to read the article about doji, that is another great and self-explaining price action strategy.
Trade free signals for profit:
Trading, no matter if in the demo account, makes a lot of fun, but the primary reason for most day trader is to make profit. The Crypto MasterBot 2.0 links automatic with the most recommended broker for your actual location. The Broker allows already small investments for personal investors with less money. When you feel ready to use the real money account, just visit the Website of the legit broker and follow the simple steps. The web interface of brokers differ, so I cannot give an exact explanation for each one, but the interfaces are very similar with the same few functions, so it is very easy. Just follow the previous steps and place the trade instead of the demo account in the broker platform.