Several settings are available in Algo Signals including Forex and Crypto trading. These setting include Reverse Trading, Max Daily Trades, Daily Take Profit, Daily Stop Loss and setting the preferred probability for the trading signals the traders receive. As a result, New Zealand traders can be in control of their trading experience. The settings available increase with each account type. The more advanced the account is, the more settings it offers.
How to Trade Forex with Algo Signals?
Stop loss and take profit are the most important trading tools available to traders. By setting a stop loss and take profit, traders can be in full control of their money. For instance, if a trader sets the stop loss to $100 and the take profit to $200 then, the system will automatically close the trade once any of those two prespecified prices are met. Hence, traders can know exactly what their profit or loss will be in advance since there is not an expiration for these. Thus, traders can focus on their trading instead of constantly having to worry whether or not it is a good time to close their trade.
How Does Algo Signals Work?
Algo Signals is a free, web-based software that can be run directly from any web browser and hence, it does not require a download and it won’t take any space on your computer. It is important for traders to understand that Algo Signals is not a broker but serves as the connection between traders and licensed brokers. This means that deposits and withdrawals are done by the broker and not by Algo Signals. Several banking methods are available depending on the selected broker.
What Is Algo Signals Leaderboard?
New Zealand traders have the chance to participate in the leaderboard awards and win big prizes by earning special points. Explained below is the formula that the leaderboard is based on. Moreover, the leaderboard is reset every month so that there is a fair chance for all New Zealand traders to win big.
For instance, a New Zealand trader who has reached a trading volume of $1000, deposited $2000, withdrew $500 and is on the master level will receive 4500 points based on the above formula. 1000 (trading volume) x 3 (multiplier for master level) + 2000 (deposits) – 500 (withdrawals) equals 4500.