We know it's exciting to have a new toy and you want to dive straight into making some great trades, but trust us when we say you need to take some time to understand what is going on and how to make better decisions.
Or at least make sure you avoid the typical mistakes we list below :)
- Don't blow your account on the first signals you see! Plan for months of trading. Use Risk Management.
- Avoid wide entry zone signals until you know how to ladder your trades
- Be ready for NO signals at times. Be ready to stop trading even if there are signals. Relax!
- Reach out if you have bugs or other frustrations. No need to struggle alone :)
Common Questions and Misunderstandings you should avoid
1. What are pending orders? Why didn’t the system buy my coin?
ans.-> If you check your open order and it shows that the trade ‘pending’, the system hadn’t bought the coins because the coin price didn’t hit your set entry price. Here’s a helpdesk article that explains this in detail: What are Pending Trades
If you haven’t already, kindly check out these ProfitFarmers Academy videos for more information about the entry zone and pending trades:
How do Signals work and what is an Entry Zone
BONUS TIP: CLEAN UP YOUR OPEN ORDERS!
Leaving trade orders open for too long or in the wrong situation can cause unnecessary losses. Make sure you take the time to read our guide on this topic.
2. According to the signals on the dashboard, my trade hit [Target X]. Why didn’t the system sell my coins?
ans.-> The dashboard is global. What this means is that you are seeing the same signals, progress and results as all other members.
This only applies to the signals themselves. Your wallet balances, settings etc are unique to you. Kindly check out this ProfitFarmers Academy Video for more details:
3. The PnL (profit and loss) shows that I’ve lost my trades even though it had hit the targets?
ans.-> PnL is based on Trailing Crypto’s system and they are aware that it’s inaccurate. If you wish to find out more about your PnL, kindly check out this article: What is PnL
4. I saw that the coin price hit the entry price on my open order, why didn’t the system buy them?
ans.-> Price does not mean entry price. Entry price can be found in the conditions column. Kindly check out this article for more information: Understanding open orders and order history
5. What does (PF 1000, Lightning3, PF222, etc.) mean? ans.-> ans.-> Most of our signals come with different trading strategies. If you’re interested to learn more about how to play these strategies, kindly check out this helpdesk article: Signal Strategy Summaries
6. Why can't I see my open orders in Binance?
ans.-> The orders only get executed as soon as the price which your order is set at, is hit. At that time you will find the trades appearing in your order/trade history. kindly check out this helpdesk article for more information: Read our short guide here.