Dashboard legends: a guide to the different parts of the ProfitFarmers dashboard
Hey ProfitFarmers!
In this article, we’ll dig deep into the different parts of your dashboard. Let’s jump right into it!
Your dashboard can be split into 3 parts, the dashboard, tools, and wallet section
1. Signal Dashboard
2. Tools Section
3. Wallet
1. Signal dashboard
In this area, you’ll find all of the signals we have available.
Dashboard STATE
Fresh signals
Here’s where you’ll find all the new signals that our algorithm and experts pick up. Signals up to the Target 1 Hit status can be found in this area. By default, the system will show you the Fresh Signals section whenever you log in!
Signals in progress
Signals that have already hit at least T1 and above will appear in this view.
If you wish to trade any of these signals, it’s possible to do so manually. Check out this article if you want to know more: How to trade a signal that you missed or were too late for
Closed signals
This will show all of the trades that have achieved their targets, hit stop loss or closed early.
Watchlist
Found a signal that looks interesting? Then add them to the watchlist. Simply click the star icon and the system will automatically add the trade to your watchlist.
How will I know which trades I’ve copy-traded?
Trades that you’ve followed will automatically appear on the watchlist and will have the ProfitFarmers coin icon shown with it. The coin icon will turn orange when the system detects that you had a trade triggered that relates to this signal.
Anatomy of a Signal
Each signal can be divided into 9 parts.
- Coin pair symbol - This shows the altcoin that’s paired with either USDT or BTC.
- Signal strategy code - This will tell you which strategy the signal is based on.
- Direction: Buy/Sell - Determines if it’s a buy (long) or sell (short) signal.
- Suggested leverage - There may be suggested leverage for Futures signals.
- Last price - The last known price of the coin and this information is updated regularly.
- Entry zone- This shows the signal’s entry zone prices.
- Target 1/2/3/4 - This shows the next target price goal of the signal. (i.e., if the signal hit T1, it will show up as ‘TARGET (2)’)
- Signal status - shows you where the signal is based on the price data from the Binance.com exchange. Keep in mind that since the dashboard is global, this doesn’t necessarily mean that signal status will accurately reflect your own trade.
- Time since published - This will show you how much time has elapsed since the signal’s been published.
What are the Different Signal Statuses
Each signal shows a different status which changes depending on the coin price.
Open
The ‘Open’ signal status means that the last price of this coin when the signal was created isn't inside the entry zone yet. Therefore the trade/signal has not become active yet.
Within Entry zone
Signals within the entry zone mean that the price is anywhere within the entry zone price range. In many instances, this is the ideal status for copy-trade signals.
Approaching Stop loss
This means that the price is dipping below the very bottom of our entry zone and is now approaching the stop-loss levels.
Leaving Entry zone
The price has started to go above the entry zone. Don’t worry, you can still copy trade signals with this status if you’re interested in the trade.
Awaiting T1
This signal status means that the price is nearing the signal’s target 1. Don’t worry, you can still copy trade signals with this status. Check out this article if you’d like to know how we calculate signals that are awaiting T1: Signal Progress Statistics
Target Hit
This shows that the trade has hit the corresponding price on the Binance exchange price. The signal will change to reflect the current status of the price that was hit.
*Signals with the ‘Target 1 hit’ status will still appear in the fresh signals section. At the moment, members who are interested in following this signal ‘late’ will have to trade it manually.
Full signal details
If a signal catches your eye, simply click on it to reveal the full signal details which include:
1. TradingView widget
2. Price feed - The Spot price feed will only show ‘ON BINANCE’ while FUTURES price feed will show the ‘ON BINANCE FUTURES’
3. Date that the signal was created (based on your local time)
4. Price the signal was created
5. The trade now button.
If you’re interested in taking a look at the signal’s full price chart, then simply click on the trading view widget (blue cloud icon) and it will redirect you to the corresponding price chart.
If you’d like to enter into the trade, then click trade now. This will redirect you to the basic trading form.
Basic trading Form
The basic trading form is where you’ll need to fill out the information the system needs before it queues up your trade.
Entry style
These are preset for where the system will buy the coin at a certain level of the entry zone. Check out this article for the full details: Standard, Aggressive, and Defensive Entry Styles
Bid and Ask Price
Bid- The bid price is the highest price that a particular buyer is willing to pay for a specific product or service.
Ask - The ask price is the minimum price that an individual would be willing to sell their asset. Currently, the system requires that the entry price you’ve set be lower than the ask price for a buy trade.
Total in USDT
This is the total value of the coins that you’re willing to trade with. (e.g. you’re willing to buy 150 USDT worth of altcoins for your trade)
Coin quantity
It shows the amount of altcoins you may be able to buy based on the total in USDT.
Targets and stop loss
On the basic trading form, you can change the target and stop loss prices. You can also see how much you can potentially gain per target and how much you can potentially lose on stop-loss! These values will change depending on the entry price that you've set.
Entry Zone Width
You can also find entry zone % width in the trading form! This will tell you how wide the entry zone is. It's useful information if you are considering laddering into your trade.
Calculation
Here’s the full breakdown of how to calculate the percentages
Gains Per Target Calculations
BUY signal:
T1: ((TargetPrice1 - EntryPrice) / EntryPrice) * 100
T2: ((TargetPrice2 - EntryPrice) / EntryPrice) * 100
T3: ((TargetPrice3 - EntryPrice) / EntryPrice) * 100
T4: ((TargetPrice4 - EntryPrice) / EntryPrice) * 100
SELL signal:
T1: ((EntryPrice - TargetPrice1) / TargetPrice1) * 100
T2: ((EntryPrice - TargetPrice2) / TargetPrice2) * 100
T3: ((EntryPrice - TargetPrice3) / TargetPrice3) * 100
T4: ((EntryPrice - TargetPrice4) / TargetPrice4) * 100
Loss Calculation
BUY signal:
Loss: ((StopLoss - EntryPrice) / StopLoss) * 100
SELL signal:
Loss: ((EntryPrice - StopLoss) / EntryPrice) * 100
Zone Width Calculation
Width: ((EntryEndPrice - EntryStartPrice) / EntryStartPrice) * 100
Breakeven even stop loss
For all entry styles, breakeven stop loss has been enabled but if you wish to turn it off, simply toggle the button to disable this feature.
Advanced Options
In the advanced options, you can also set your breakeven type to:
Move SL UP when TP target hits - If this option is chosen, then your stop loss will move to the level below the highest TP level hit. (This is the type selected by default)
Move SL UP (2 steps behind) when TP target hits - This will make your stop loss move to your entry price once T2 is hit. Once T3 is hit, Stop loss will move to T1. By moving the stop loss two steps behind, decreases the risk of you being stopped out prematurely while keeping your gains relatively safe.
Move SL to entry price only - This is option sets your stop loss level to move to your entry price level upon hitting T1 but will remain there regardless of the number of targets hit thereafter.
Check out this article if you wish to know more about the pros and cons of enabling breakeven stop loss.
If all the conditions are met and you’re happy with your settings, click ‘Confirm Trade’ to create your trade plan.
TIP: It’s a good idea to keep a screenshot of your trade plan so that it’ll be easier for you to remember how much USDT you’ve allocated for your trade. Alternatively, you can find the details in your open orders section.
2. Tools Section
The tools section links to all the available features in your ProfitFarmers account.
Open Orders and Order History
All of the trades you’ve taken can be found in the open orders and order history section. It will show you what’s happening to your trade.
Open Orders
The open order consists of 7 columns.
ORDER NAME - Shows the coin pair and the Order ID
TYPE - this shows the type of orders queued up.
VOLUME - The number of coins allocated for the trade.
PRICE - This indicates the current price of the coin when the condition took place.
CONDITION - This shows your trigger conditions (a.k.a. entry price, targets, and stop-loss price).
OPEN DATE - This is the date of your open trade and it is based on your local time.
EXPIRY - This shows you when the order will expire.
Order History
Once your order goes through, it will go to the order history section of the dashboard. Similar to the open order section, it has 7 columns that serve the same function as the ones in the Open order.
When will orders move from the Open Order Section to the Order History?
If the coin price meets the entry, target, or stop-loss price you've set and the order has been successfully executed, it will move to the order history section.
Here's an example:
When the coin price met with the entry price(62.4404) for one of our trades and as a result, the entry price order moved from the open orders to the order history section.
Related 'pending' orders will have their status changed to 'open'.
What does the Force enter order (green) button do, Force exit order (yellow) button do, and Cancel order (red) do?
Force enter order (Green)
This will allow you to enter the trade using the market buy order. This will automatically buy the coins at a market price based on the allocated amount.
Force exit order (Yellow)
This will close the order at market price by placing a Market sell order on an exchange and will automatically sell the coins at a market price based on the allocated amount.
Cancel Order (Red)
This will cancel all the orders that have been open and pending on your trade.
Where can I find my entry price, target price, and stop-loss price?
You can find them under the conditions section.
Entry price
Stop:lte - (price)
Target Price/s
Stop: (T1 price), (T2 price), (T3 price), (T4 price)
Vol: (x% of coins sold at T1), (x% of coins sold at T2), (x% of coins sold at T3), (x% of coins sold at T4)
Stop-loss price
Stop: (price)
Breakeven : (true/ false)
How will I know if the system sold my coins on target?
Under open orders or order history, check the conditions of your trade to see if it registered a ‘HIT’ and if it does, the system should have successfully sold the coins at that price. You can confirm this by looking for the sell order in your history.
How will I know if the trade has closed?
Under the trade’s ‘COMMENT’ section look for either the ‘Cancelled auto’ or ‘Manually cancelled’ comment.
Cancelled auto
This usually means that the trade had automatically been closed due to hitting stop loss or target 4.
Manually Cancelled
This message will appear if you’ve closed the trade manually through the open orders section.
PF Statistics
This area will show you historical win vs lose data of the signals within a set amount of time.
You can also adjust the dates and set the statistics to show only certain types of strategies.
Wallet
This will show you all of the coins listed on Binance as well as the amount of coins you have in your wallet.
Trade Manually
This is your manual trade terminal. This will allow you to manually trade signals or create your own trades. It also grants you access to your full open orders and order history.
Price Action Scanner
You can find which coins have been exhibiting bullish or bearish price action. Check out this guide on how to use the PAS tool to identify interesting coins.
RSI Scanner
This tool is useful if you’re looking to trade overbought or oversold assets. Check out this article if you’re interested in learning how to use the RSI to find interesting trade opportunities.
Settings
Here you can adjust your profile name, change your password, cancel your current subscription, enable auto trade, and adjust your notification settings.
Knowledge Base
Everything you need to know about ProfitFarmers can be found in this section. The more you read the better you will do!
Signal Strategy Guides
This will redirect you to the Signal overview articles. These are extremely useful guides that can help you gain a better understanding of what the different signal strategies mean along with some useful tips for how to play them.
3. Wallet
The wallet section reflects all the information in your Binance wallet.
If you want to see all of the coins listed on Binance, simply enable the 'Show 0 Balance' option.
If you want to find the coins that you're looking for, either type its coin name in the field provided, you can also scroll down until you find the coin you're looking for.
Converting your BTC to USDT and vice versa
The wallet section allows you to exchange your USDT for BTC and vice versa. It works by selling your coins at market price. Check out the steps below or watch this quick and easy video for how to do this: How to Exchange Bitcoin for USDT and USDT for Bitcoin
How to convert your BTC to USDT and vice versa
Step 1: Click on the ‘Convert’ button to open the conversion window
Step 2: Enter the amount you wish to convert
Important: The currency on top will be converted to currency below so in this example, we are converting 70 USDT for 0.0018 BTC
You can switch between USDT and BTC by clicking on the arrow icon
Step 3: Once you’re happy with the amount click ‘Confirm Order'
If it succeeds, you will be notified via the dashboard.
You can also see the transaction details in your order history section
4. Futures Signals
- Coin Pairing - pair currency like USDT or BTC against any coin.
- Strategy Type - Indicates how you want to enter the trade. Depending on the strategy you choose, this will change your Entry price. There are three types of entry zone strategies: Defensive, Standard, and Aggressive.
To learn more, read our guide here: Strategy Types.
- Buy Details - There are two types: Market Buy and Laddering.
- Market Buy - are transactions meant to execute as quickly as possible at the current market price.
Example: The current price of BTC is 40,000, by using the market buy/order the system will automatically buy BTC at 40,000.
- Laddering - Laddering entries is a technique where instead of buying at a single price, you could buy coins at different prices.
Click Laddering to learn more.
- Total USDT - Total amount that you want to buy in USDT.
- Target details - Details of the targets you or the system has set.
- Stop-loss details - information about stop-loss price and Break even
- Stop-loss price - recommended stop-loss price, you are free to edit it but we do not recommend it unless you know what you are doing.
- Break-even option - automatically moves your stop loss as your trade progresses. Learn more about the Break-even stop loss here.
- Advanced Options - Advanced options for traders to further optimize their trades.
- Price type:
- Last price follows - The Last price is the price at which the last transaction went through.
- Bid price follows - The Bid price shows the highest price someone is willing to buy crypto at, at this moment.
- Ask price follow - Ask price shows the lowest price someone is willing to sell crypto at, at this moment
- Break-Even type:
- Move SL UP when TP target hits - If this option is chosen, then your stop loss will move to the level below the highest TP level hit. (This is the type selected by default)
- Move SL to entry price only - This option sets your stop loss level to move to your entry price level upon hitting T1 but will remain there regardless of the number of targets hit thereafter.
- Margin mode:Cross and Isolated are correlated to Binance. The default setting for Margin mode is cross margin, there’s no need to change it.
Learn more about Cross vs Isolated.
- Price type:
- Leverage: multiplier for gains or loss percentage.
- Strategy in play - The strategy in use by the current signal.
- Stop loss
- Futures wallet balance - The balance in your futures wallet.
- Confirm Trade
5. Spot trading in Futures signal
This is for those members that want to trade Futures signals but do not want to use any leverage. Whenever you open a Futures signal, before you can trade it you will be asked if you’d like to trade with Futures or Spot.
To learn more about this feature visit the Spot Trading Futures Signals article.
6. Trade Guardian
The new feature “Trade Guardian” will close your position/trade automatically whenever the system initiates the close early signal warning and close this trade.
You will also receive a notification for the trade guardian close signal early in your email and browser.
If you like this feature you can turn it on in your settings. Follow the screenshot below.
The trade guardian is still in the early phase so there is an issue that you might encounter using this feature. To know more about Trade Guardian check out our article here.
Now you’re all set to use ProfitFarmers!