February 27, 2024

Signal Trading with AI

This is the first article in a four-blog series about trading strategies that you can leverage with the Scopechat AI-powered crypto trading assistant.

Signal Trading is one of the most important trading strategies in crypto. Many pro traders leverage it to make millions.

Executing the Signal Trading strategy used to be super complex due to high data & analysis barriers. But with the advancement of crypto and AI, times have changed. Thanks to innovative crypto + AI solutions like the Scopechat crypto trading assistant, anyone can conduct signal trading in minutes!

Here is how to use AI to do signal trading:

1. Open Scopechat

Scopechat comes with several features that make it your ideal crypto trading partner. Leverage these advantages:

- The most complete token database: find almost any token you want

- A powerful AI agent that makes a token report for you - in seconds

- Timely token alerts and a customizable token watchlist

(One more thing: Soon, Scopechat will even execute your trade! Know more about it in the near future. But for now, let's go back to Signal Trading.)

Go to Scopechat > Trading Assistant. Answer the pop-up question with "I don't know" to see the various token dashboards where you can find your alpha. For this guide, choose the Signal Trading strategy to see the relevant dashboards.

2. Use Filter to find the tokens that are suitable for your criteria and signal trading principles.

Here are some Filter settings that you can customize for your strategy:

- Chain. Signals require big data support, so generally you want to select EVM tokens such as Ethereum ($ETH) for more data, although this is still based on your interest.

- Market Cap. Signal Trading usually applies to medium market cap tokens (above $50M). These tokens would have less effect by random actions but tend to follow a basic pattern.

- CEX & Perpetual Markets. Signal Tradings are usually quick-in, quick out, so having enough liquidity and even someplace to leverage & short is quite important, so you should select proper CEX markets.

These are just some of the 10 metrics that you can modify on your token dashboard.

3. Choose your token & add it to your Watchlist

Scopechat has a game-changing Watchlist and Alerts feature that lets you monitor your favorite crypto tokens & their market actions.

Scopechat provides many signals you can trade based on:

- Price Change

- Centralized Exchange Data (Deposit & Withdraw)

- VC/Whale Position Changes

- Smart Money Buy/Sell

- Volume Change - Spot/Perpetual

- Funding Rate/Open Interest Data

You can also set up and receive real-time alerts on these tokens, straight to your Discord or Telegram.

(Note: The Watchlist and Alerts feature is exclusive to Scopechat Pro users. Subscribe to Scopechat Pro to gain access to this feature.)

For more information about Signal Trading and other trading strategies made easier by Scopechat, check out the Scopechat Trading Dashboards guide.

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