3Commas is a Russian-based Trading Platform that has a variety of "smart tools" to help the average cryptocurrency trade succeed by minimizing risks, limiting losses, and being able to manage their portfolio on multiple exchanges from your computer or your mobile devices.
3Commas started in September 2017 and was limited to a small Russian community, "the Russian QuickFingersLuc Community :P"
The User Interface is very clean and efficient. It has some features that Coinigy doesn't have. They implemented 2 features that they believe every trader should be entitled to: Trailing Stop-Loss & Trailing Take-Profit.
Here are some of the examples of what exactly it does:
A Trailing Stop Loss order is identical to a standard Stop Loss order in all respects except one. Both let you minimize your losses in the event of a price drop, but unlike a Stop Loss order that is set manually at a fixed price threshold, a Trailing Stop Loss order is percentage-based and automatically adjusts to price fluctuations.
For example, let’s say you purchase 10 ETH at $675 each and to minimize any potential losses, you set a Stop Loss order of 10%. This means that if the price of ETH drops below $607.50, the stop loss order will automatically execute, selling your ETH at that price.
But what if the price of ETH goes up during the day? A standard Stop Loss order will still only execute when the price drops below 10% of the original buy-in price. A Trailing Stop Loss order, however, automatically adjusts to the price change. So if the price of ETH goes up by 15%, the Trailing Stop Loss order would trigger when the adjusted price drops by 10%, netting you a 5% gain.
Just like how the Trailing Stop Loss tool is designed to minimize losses, the Trailing Take Profit tool is designed to maximize gains. Using our Ethereum example from above, let’s say you buy 10 ETH at $675 each and set a standard Take Profit order at $700. This means that you would make a profit of $25 per ETH.
But what if ETH goes higher than $700? You’ve just lost additional potential profit. A Trailing Take Profit order lets you sell at the highest part of a trend by selling at a percentage of the highest value. So if you set a Trailing Take Profit order of 10% and ETH climbs to $800 and then falls, the sell order would take effect when the price falls below $720 ($800 – 10% = $720), netting you a profit of $45 per ETH.
The next feature I like and I call it the "Dream Portfolio". When you are a user on the platform, your HODLing can be viewed by members of the entire 3Commas community.
I personally use this every single day. When I go out, I trade through 3Commas ONLY!!
Let's say there is market delisting and the coin was 20k satoshis, it starts to fall.. I buy 0.16 BTC of the coin at 16k sats and set Trailing Take Profit at 2%. That's it and target will reach with 100% chance. Quick & Easy Profit!
Currently there are only 3 exchanges supported (Bittrex, Binance & Poloniex) and the Ethereum Wallet.
This project has a bright future, the developers are active. To trade through their platform you pay them a fixed commission fee of 0.25% per trade. It's worth it in the long run. I really enjoy using this program and I advise you to try it as well. If you're worried about loosing your money, when you generate API Key.. leave the withdrawal box unchecked.
Thanks for reading I hope you enjoyed it. I used a Bitcoinist article to explain how the Trailing Stop Loss and the Trailing Take Profit worked. Follow, comment, and upvote for daily content.
Here is my referral link: https://3commas.io/?c=tc0122
Edit: I know some of you have some questions, I will update this post in a bit once I get the chance to with more info on 3Commas.
I just joined, I'm also a member of QFL forum. Cheers and thanks again
Awesome, thanks for reading. Hope you enjoy my content!
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://thebitcoinnews.com/3commas-smart-tools-for-intelligent-cryptocurrency-traders/
Thanks!
Nice review... thanks buddy. So you suggest to give it try...
Might go for it.
Hi There,
Being looking into 3commas in the last days..I even subscribe but still afraid to trust and give them the API of my exchange..whats bothering me is that as it is a Russian company which don't follow standard regulations and more then that, there is no website where you can subscribe and join a company that you know is there..u only can subscribe to a robot page where who knows who stands behind it..It is a really nice service, and it will be stupid to offer such a great tool (no one else is offering at the moment) and be a scammer in the same time..but in this wild Wild West..who knows..will be great to find someone that can relax my concerns about 3commas..