7Tesler Review 2022 – Is it a scam or legit? An honest review

How to Use 7Tesler – Step-by-Step Guide

To begin using 7Tesler:

1. Register for an account on 7Tesler

The first phase of registering for an account requires an email address and a phone number. After creating the account, you’ll need to submit KYC documents like an ID and proof of address.

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2. Complete the registration form

While registering, 7Tesler will refer you to a partner broker. You’ll need to sign up for an account with one of them if you do not already have one. Similarly, you’ll need an ID card and proof of address document. However, some brokers may require proof of your source of funds.

3. Decide on a trading strategy

This is where you can try new strategies, use already existing ones, or develop your custom strategy. To begin, set an entry, stop loss, and take profit prices.

4. Practice using the demo account

Ensure your strategy works as intended by first testing it in the demo account. In the demo test, you are training the model to recognise the specific parameters of your strategy in the market, making execution more efficient.

5. Make a deposit

You can now deposit funds into your account to begin trading. The minimum deposit is $250 sent to your broker, not 7Tesler. Check the broker’s deposit methods and limits for more accurate details on what payment channels are available to you.

6. Set up automatic trading

Setting up automatic trading involves formulating values for the key parameters in your strategy. Every strategy has an entry point, an exit point (also called take profit), and a stop loss.

The entry and exit points are pretty straightforward: price points where you open and close the trade, respectively. However, the stop loss is a price point below the entry level for buy trades where the bot will close your position if your trade doesn’t work out.

Stop-loss is a risk management policy determined by the amount of money you are willing to risk for every trade. A rule of thumb is to never risk more than 3% of your total account value on a single trade. Going by this, you should place your stop loss at a price where the loss will be less than 3% of the total value of your trading account. 

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7Tesler Review 2022 – Is it a scam or legit? An honest review

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