Finally a trading bot that anyone can use

Trading needs to be objective to make money. When we fall in love with our holdings, it is when we start losing money. Buying and selling, should be sentiment free and should be undertaken only for the sole purpose of profit maximization. It is thus good to minimize the human element in trading at times and let a machine do its thing. What is more it also frees a trader from the screen and allows them to continue the pursuit of earning profit 24 hours a day.

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It makes sense then to use smart tools to do away with the uncertainty caused by the human element. 3Commas, which launched back in September 2017 has automated tools that allow crypto traders to free themselves from their trading terminals.

The long and short of it

Traders whether big or small like some control over their trades but in a 24 hour crypto market, if you are not trading all the time, you are losing out. The automated trading bot from 3Commas solves a lot of problems. The trading bot can help carry out trades on exchanges like  and users can create a new automated bot and fix parameters of trading at the time of bot creation. After which, the bot will offer cryptocurrency for sale on the chosen market. In case the price rise, the profit goal is achieved, in case of a decline in prices, safety orders are placed below the purchase every X%. This is akin to dollar cost averaging. This allows traders to exit positions on bounce back because the TakeProfit target is moved lower. Conversely it is also possible to use the Long algorithm in which case the Bot can sell higher and buy lower.

How to try out the automated trading bot

The working of automated trading bot is really simple. At the minimum, investors need an exchange account that is connected to 3Commas. This account must have BNB and BNB fee turned on. An instructional video that takes investors through the process is available and it just takes a few minutes to understand how the system works. Users have the option to either create a Simple bot or a Composite bot. If you are just beginning, it may be advisable to experiment with a Simple bot. If while filling in the form to create a bot, a user does not understand the terminologies used, they can always reference a handy mini glossary that is available for reference. 3Commas recommend strongly that users experiment with minimum possible volumes and percent of profits in the first trades that they carry out so that they gain a better understanding of how the bot actually works.

A comprehensive trade solution for everyone

3Commas membership starts at US$ 25 and there is pro membership for US$ 84 available for free trial. Since the time of the launch the platform has gained 22,000 active traders and there is a daily trade volume of US$ 6 mln. Profitability is the main attraction for most traders as bitcoinist.com described in a recent article, “The reason for the platform’s growing popularity, of course, is the wealth of tools and features it offers that has resulted in active traders making an average monthly profit of more than 15%.” They also followed the daily returns from the trading bot and wrote, “Results may vary, of course, but on average the trading bot generates a daily profit of around 1.5%.” Interestingly 3Commas are also offering a more traditional trading terminal with stop loss feature but also a trailing stop loss option, which allows for a more dynamic stop loss setting. There is also a take profit and trailing profit option available. A number of other smart trade options such as Bid price follow, ask price follow and true price follow (under development) are available for 3Commas users.

In a market as volatile as cryptocurrencies, it is important that investors and traders both big and small be able to access quality tools to maximize their profitability. 3Commas seems to have solved the problem of accessibility and usability especially for new users and this is highly commendable. On the other hand they also have pro tools that the more advanced users have always desired.

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