Posted 1 year ago | by Ben Armstrong
3Commas Automatic Trading Bots Simplify Cryptocurrency Trading
The automatic trading bots created by 3Commas are set up to make cryptocurrency trading easier for anyone. 3Commas trading bots can help a novice trader enter the markets, or help experts save time on their daily trading activities.
3Commas bots have a track record of creating reasonable returns and limiting market risks. The automatic trading bots are used to limit the effect of emotions on trading, and also keep your money in the market 24 hours a day.
With 3Commas' automatic trading bots, your money can work on the exchanges, like Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, HitBTC, Cex, GDAX, OKEX, Huobi, and Yobit, and you won't have to be glued to a trading screen 24/7.
3Commas Makes it Easy
There are two types of bots available on the 3Commas platform: the Simple Bot and the Composite Bot. The Simple bot is built for those who are getting used to automated trading or want to use an easy way to trade the markets.
Customers must have an exchange account, which is connected to 3Commas via the API. Additionally, the account has to be funded with BNB, and the BNB fee must be turned on. Once all this is in place, trading is a cinch.
Then, just create a new bot by filling in the required parameters and choose an exchange to trade with. It really is that simple, and these bots could help you to make great profits.
Make Profits from Automated Trading
Once a bot is set up, it will offer cryptocurrency for sale on the market of a user's choice. Users can choose both long and short trades. To generate profits, there is a long algorithm that will buy low and sell high. The short algo does the opposite.
3Commas has trading terminals with the option to use stop loss and trailing stop loss to generate gains, apart from the trading bots. The trailing stop loss allows for a dynamic stop loss setting. All of this is great for traders, who need to know how to control risks.
Good Trading Options
3Commas is offering options to take profit and trailing profit, together with bid price, follow, ask price follow and true price follow options. All these tools allow traders to take a more manual approach to trade, limit their exposure to losses, and to maximize profits.
While automated trading platforms aren't a guarantee of big profits, they do help to keep your money in the markets and ensure that your emotions don't get the best of you when there are opportunities to be had.