Hello traders. In this video, I will talk about the improvements in 3commas – “Smart Trade” updated at the end of 2020 and the beginning of 2021 year. I will talk about the benefits of “Smart Trade”, like quick switching between the spot and the futures market (you can trade in one window), Trailing Stop Loss, and Trailing Take Profit now working much better. The last novelty is a completely new and separate “Terminal” for manual trading and scalping with hotkeys. Let’s go.
Benefits of Smart Trade crypto
SmartTrade: plan when to buy or sell crypto. Some people do not quite understand why the 3Commas platform is needed when you can trade directly through a crypto exchange, for example, Binance. In fact, there are differences and they are significant, especially after the “SmartTrade” update in 2020-2021. Because “SmartTrade” from 3Commas will save you more time, improve quality, and profit from trading.
The first is the ability to switch between several exchanges (Bitmex, Kucoin, and others) in 2 clicks without having to go separately to each of them and go through authorization. This is especially convenient when you need to buy such a coin on one exchange, and sell it on an exchange where this coin is not available, so as a kind of arbitrage. And it is also possible to switch between the spot and futures markets in one SmartTrade window.
Second – with “SmartTrade” are offered also charts of TradingView (who does not know, this is one of the best charting services for all types of markets, and it needs to be paid). So using 3commas you get TradingView charts for free. There is a separate window with signals, where the service recommends you to buy or sell some coins for the current moment (ATTENTION! These are only recommendations, not precise instructions for action, act at your own risk).
At the same time buy and sell of crypto – how is it?
The third is a huge number of orders. On the cryptocurrency exchange, usually, only market and limit orders are available, while here it is also an additional “Conditional” order. And in relation to prices, then also Bid, Ask, Last available as well. More about this in the video – Types of orders in the crypto. Fourth is planning when to buy or sell cryptocurrency. You can set a suitable time interval, place Take Profit and Stop Loss, even when you have already bought coins.
Fifth, the function buy and sell in 1 time or sell and buyback coins – “Smart Cover”. In addition, this function allows you to sell and buy the same tokens cheaper if your deal is in the minus. More on this in the video – Short cryptocurrency trading. Sixth – “Smart Sell”, this is when you have already bought some coins, you can sell them later with a profit, and the service will automatically calculate everything for you.
Seventh, the interface and windows have been adapted to make it easier to buy and sell coins. For example, set the percentage of coins, fine-tuning Stop Loss, and Take Profit. Eighth – there is a separate Trailing Take Profit, Trailing Stop Loss, and Trailing Buy, allowing you to minimize or avoid losses, as well as significantly increase your profit. More details in the video – Trailing Take Profit, Trailing Stop Loss, and (Trailing Buy).
Functions of Smart Trade crypto
The ninth is the Smart Buy function. It is the opposite of Smart Sell, useful for traders who have short positions in the futures market. This opportunity is also useful because when you are not in a hurry and want to buy the required token at the best price.
Tenth – splitting Take Profit into targets. Split one Take Profit into 2, 3, or more pieces to close the position with a ladder. A very handy function that will save you from a pullback in the event of a price reversal. More details in the video – Take Profit Ladder.
Eleventh – the function of viewing the parameters of a deal before opening it. After creating an order in Smart Trade, the system will offer you to check everything again before real trading start and make changes. There is an additional note window, where records and ideas of the current deal are kept. Twelfth – after creating a deal, you can visually see information on it (the number of coins, losses or profits, and so on) in one window.
Thirteenth – there is a separate window with a deal editing mode. For example, mark a deal, sell by market, edit (change or disable Stop Loss, and Take Profit). Fourteenth – a quick check of your trading history and a report on each transaction: how many profitable and unprofitable transactions were.
Fifteenth – the most important function in 3commas is the ability to average the deal or it is called DCA (dollar cost average). Suitable for people who do not like and do not want to use Stop Loss. Averaging helps to avoid losses in trading as much as possible and eliminate the need for Stop Loss with minimal risk. Ideal for beginner traders. More information in the video – Averaging in crypto trading.
The Sixteenth is the latest and most powerful innovation is the optional 3commas – beta Terminal for manual and fast trading. For the futures market, there are a leverage mode, scalper mode, and hotkeys. All this is calculated so that the trader can make order settings, open and close deals as quickly and conveniently as possible. For more details, see the video – Cryptocurrency scalping strategy.
In this video, I talked about the main innovations in 3commas and what you will find useful here for yourself. There are really a lot of new opportunities and it is unrealistic to describe and show them all in one video. Therefore, in the future, there will be separate articles and videos about Smart Trade in 3commas , so that you can understand and trade cryptocurrency more efficiently. The video is over and see you soon on botcryptotrade.com