ZoneBitcoin EditorialAs the world of cryptocurrency continues to grow stronger, crypto trading is also becoming more mature. We see this with the ever-expanding services regarding trading services. The best example remains the trading robots (bot trading) of cryptocurrencies. These robots are designed to simplify the entire trading process. Even more, trading robots would be able to make us make significant gains.
That's why I told myself I had to talk about it. I already told you about the TradeSanta trading robot, but today I am going to tell you about 3commas, because many people say that it is the best automatic trading software.
Presentation of 3Commas
3Commas is a comprehensive cryptocurrency trading platform that allows its users to use automated trading robots, follow and copy trades from top-performing traders.
Additionally, users can customize their own trading strategies, as well as set stop loss targets to limit possible losses.
The 3Commas Auto Trading Platform provides access to a number of tools designed to improve the overall efficiency and profitability of all trading operations. The team behind it aims to minimize the risks of investors and traders.
To put it simply, the founding team sought to limit the risk of losses while maximizing profits.
It's thanks to the trading bot 3Commas that this is made possible.. Trading robots are software programs that continuously execute trades based on predetermined parameters set by the trader. Many traders now use only robots because they prove to be much more efficient than “humans”.
🤖 Likewise, a trading robot never stops, it never gets tired either, it is not subject to intuitions, this is above all what explains the performance of trading robots.
Currently, more than 50 traders use the 000commas service. The platform handles a daily trading volume in excess of $3 million. This shows you how much the robot is appreciated by the community.
💰 The trading bot currently deals with around 12 exchanges, including GDAX, Binance, Bitfinex or even Huobi.
As a result, using 3Commas, traders can track various positions on different platforms at the same time. In fact, this also and above all allows you to multiply these gains.
The main features of 3Commas:
- features: 3Commas has a platform with a friendly and intuitive user interface. There are several interesting features and powerful analysis tools. Traders can use short, simple or complex bots and set stop losses and profit targets. Likewise, the trader can fully personalize his trading strategy according to his objectives.
- Technology : Automatic trading is carried out via an API interface with exchange platforms such as Binance. The bot works 24 hours a day with any device and users can access their trading dashboard on their computers, tablets or smartphones. Practical. It is also possible to access it via a mobile application (on Android and iOS).
- Powerful tools :The platform provides a wide range of trading tools. In addition to automated bots and performance analytics, traders can create, analyze and backtest portfolios to monitor the best performing portfolios created by other users. This is a very useful type of social trading for beginner traders. You can simply follow the best traders without worrying about developing your own strategy. It is the equivalent of Etoro, as one could say.
- Integration on platforms: 3Commmas provides automatic trading robots for 12 exchanges currently (the largest) including Bittrex, Bitfinex, Binance, Bitstamp, KuCoin, Poloniex, HitBTC, Cex, GDAX (Coinbase Pro), OKEx, Huobi and Yobit.
- Customer Support : The platform is available in English but not in French at the moment. A support team is available to resolve issues at any time. Users can contact the team by submitting a request in the help center. They can also be contacted via their Twitter account, Telegram group and Facebook.
How to get started on 3Commas and start trading automatically?
In fact, you can simply choose, especially if you are a beginner in trading, to choose a pre-configured trading robot. You can even see this performance and choose it without making any specific configuration.
If you are more knowledgeable on the subject, you can then configure your robot according to your own trading strategy. Here are the 9 steps to do it.
➡ By following these steps, a trading robot can be set up in minutes and the entire process is simple enough for more beginner traders to follow successfully. The platform is still detailed enough to attract more experienced traders as well.
Creating an account on 3 Commas is very simple. At the top of the main page there is a green tab “Create Account” at the top of the page.
Go to the 3Commas website and enter an email address and password to register. Otherwise, you can also register via Facebook. After confirming your account by clicking on the link in the email sent, you will have direct access to the dashboard.
2) Choose bot type
There are four types of trading bots: short, simple, composite and short composite bots. If you are a beginner, you can opt for a simple trading robot with a single pair (eg BTC/USD) as it is the easiest to set up.
3) Log in to your exchange platform
The Simple Trading Bot feature only works with the Binance exchange when you are starting out. First, create an account on Binance.
You can also read the article on the Binance tutorial.
Make sure your account is connected via the API, contains BNB, and has the BNB fee payment feature enabled. Then you can name your robot.
4) Choose a pair and set the base size
You can select the trading pair you want your robot to trade from the drop-down menu, then you can tell your robot how much of your preferred currency you will use.
5) Set a profit
It is a good idea to set a safety trade size, as you can make purchases after dips in a more controlled manner. If an ETH/BTC trading pair is chosen and if after the purchase the price drops below the initial purchase price, the "safety trades" allow you to buy more ETH with the amount of BTC defined in the safety trade size. This therefore optimizes your trade.
Besides, you can also see the performance of a pre-configured robot.
6) Choose the type of profit to take
There are two options for taking profit, either a percentage of the base trade or a percentage of the total volume.
7) Set the maximum number for security transactions
This tells the trading robot how many security trades it can make before the robot shuts down. You must also define the maximum number of active security transactions for the robot.
8) Set price gap to open traces
The trading robot must also be told when it can start executing orders. It is defined as a percentage. If it is set to 3 for example, when the price of the chosen currency (like BTC, for example) has fallen 3% below the initial transaction price, the trading robot will start executing orders. You see?
9) Set the starting conditions
There you have to tell the robot when to make the initial trade and you have the choice between TradingView Signal Buy or Strong Buy, TradingView Signal Strong Buy, Manually or Open a new position as soon as possible.
So there you have it for the 9 steps of configuring a trading robot according to your own strategy.
How to Earn Profit with Auto Cryptocurrency Trading Bot?
After creating a bot, traders can start making long and short trades. For short trades, an increase in the price of the selected currency will cause the sale of the underlying cryptocurrency to be executed once the desired profit level is reached. In the event of a price reversal, safety orders can be placed to ensure that the bot also makes purchases at a given percentage increase. This therefore minimizes the risks.
The 3Commas team has defined long and short algorithms to use the opposite strategies of selling more and buying less to generate profits. Yes, the goal of the robot once again is to make profits.
To win with a trading robot, there are several winning strategies.
The best known remains that which consists of buying lower and selling higher.
In this case, the robot opens a new transaction based on one of the conditions entered in the configuration. After that, it immediately puts a crypto up for sale. If the price increases and the order is filled, the profit target is achieved. If the price falls, the bot places safety orders lower than the purchase price every x%.
I cannot detail all the trading strategies here. I will do it in another article because this one first wants to introduce you to 3Commas and how it works.
👉 The best thing if you are a beginner is to copy a trader on the platform.
Register on 3commas!Does the trading robot of 3Commas suitable for beginners?
The platform is generally quite easy to understand, even for new traders, and the trading robots are easy to set up. Various functions are easily accessible from your account and allow you to connect to an exchange platform easily. You can also set up smart traders and bots with just one click.
The dashboard is also well laid out and the side panel allows users to quickly select their preferred tabs and features.
How much does it cost to use the 3Commas trading robot?
First of all, 3commas is free. So you can use it for free. But there will be limits to operations. If you want to increase the number of positions, then you will need to subscribe to a plan.
It is important to note that traders who commit to longer subscription periods receive discounts on their monthly fees. A 6-month subscription gets a 15% discount, while a 25-year subscription gets a XNUMX% discount. If you want to reduce your rate, then it would be wise to subscribe for the year.
A business package is also available. It includes priority support and personalized features. The price of this service is available on request.
The team is also quite flexible when it comes to payment options. It's no surprise that you can pay in crypto or fiat, with credit card payments and transfers via PayPal and advcash are also possible.
Conclusion on the 3commas automatic trading robot
The majority of trading robots are either difficult to use – especially for novice traders – or do not work as expected.
3Commas appears to have solved these problems by producing a trading robot that is easy to set up and use, which also performs reliably compared to many of its competitors.
Many traders claim that it is the best trading robot on the market. I think so too, to be honest.
The system is very well integrated and works on a significant number of exchanges such as Binance, Coinbase and Huobi. The 3Commas trading bot allows beginners and more experienced traders to maximize their profits by being able to trade non-stop, 24 a day without any fear of potential inefficiency.
The dashboard is easy to understand and traders have a wide choice of options when it comes to configuring their trading robots. In addition, extensive educational information, articles and videos are available, as well as detailed analyzes of robot performance.
In addition, and I end with this point, it is also possible to follow the positions of the best traders. And, for a beginner trader, this is simply a godsend.
Know that you have a 10% discount if you register via this link, here.
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And, do you use a trading bot? If yes which? Thanks for your answers, it will help me know what next article to publish on automatic crypto trading with robots.
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