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Automatic trading bots are designed to minimize the trader’s interaction with the trading interface to reduce the chances of being carried away. Trading bots have gotten a lot of attention lately due to advancements in their algorithm and growing success rate.
Human traders cannot stay up 24/7 trading. The volatile nature of the crypto space makes it possible to take losses or miss opportunities in seconds. The solution to this challenge is a well-programmed trading bot. Of these bots, 3Commas is best known for its trading bots. This tool provides access to a variety of trading tools to improve the crypto trading strategy.
One of the most regarded automatic trading bot in that respect. 3Commas is a web-based cryptocurrency management platform that provides access to a number of tools designed to improve overall trading efficiency and effectiveness.
The two primary tools are Smart Trading terminal and auto trading bots. Users can access the 3Commas platform from any internet-enabled device globally. The primary focus of the team behind 3Commas project is to help minimize investors' risks, and limit their exposure to losses while maximizing their profit. Below are the key features of 3Commas.
3Commas offers the traders a smart terminal for trading on cryptocurrency exchanges. It is a set of features and trading indicators for both advanced traders and beginner traders. Users can optimize their trading by buying and selling coins in the same trading terminal.
To get more profit, they can use Split Targets to sell coins in part as the price rises. The Trailing Take Profit can also help them to follow the price and automatically sell it if the price starts unfolding.
Another smart trade tool is Trailing Buy. This tool helps the users to follow the price when it falls and open their position at the best price for making a purchase. Stop Loss or Trailing Stop Loss helps the traders to protect their funds.
Auto Trading Bots
3Commas trading bot is central to the service provided. The bot is a web-based service that works in conjunction with other devices and exchanges. 3Commas work 24/7 monitoring the market awaiting to execute the trade at the right moment. As a result, traders can keep up with various orders on different exchanges.
3Commas offers three classes of bots. One of the bots is the Grid Bot. This bot is a ready-made strategy that is well suited in a low volatility market conditions. It involves lower risk with minimal settings and user input required. The second bot is Gordon Bot, which is perfect for users who would want to start with something simple. This bot makes operating 3Commas easy. It is suitable even for beginners. The third bot is the Advance Bot. This bot is useful for those who trade manually, using signals, trade through API, or looking for a detailed setting. The bots are highly intelligent
Auto-reallocation / Rebalancing
The Auto-reallocation feature is available in the 'My Portfolio' section. 3Commas allows users to track and rebalance their portfolio allocation as they trade with the platform. Also, they can apply a user to find a portfolio for their exchange. 3Commas community is fast-growing and many people are contributing great trading ideas and bot setups. In the Auto-reallocation section, it is easy to find such ideas.
3Commas marketplace gives comprehensive statistics on the performance of the bots. Users, especially the new users, can use this data to identify the successful bots and copy them.
Bot analytics feature, which details the best performing bots and trade pairs, and the marketplace are well designed to help the users, especially those who are new to the platform, to copy the best bots. Portfolio creation, tracking, and social trading feature suit both new and more experienced traders.
3Commas has an intuitive platform that is quite easy to navigate even for new users. Various features are easy to access from inside the user’s account. Setting up smart trades and bots requires simple steps. The side panel of the dashboard also allows users to select their preferred tabs and features with ease.
The trader's diary is also an important tool that helps the users to follow the trade performance in their accounts. It provides a concise report of all the trades made on the traders’ linked exchanges. Traders can easily identify any profits or losses incurred on a particular trade within a set period.
Similar to other bots, 3Commas does not hold the users’ funds on the platform. The trading bots are not able to make withdrawals from the traders' accounts. Instead, the bot connects with the user's exchange via API and then carries out the automated trade on the linked exchanges.
If the account for any reason becomes compromised, the attackers will not be able to directly access the exchange accounts to make withdrawals. However, they can carry out some malicious trading activities on the exchange.
To mitigate these risks, 3Commas advises the users to enable the available security options such as two-factor authentication (2FA) and notification alerts. Such notifications can alert the user for every login on the account. The platform also makes use of new IP detection, with verification emails being sent out when a user logs in from a new device.
3Commas offers a 3-day free trial for all clients for signing up. There are monthly packages that the client may opt for to operate after the expiry of the trial period. The packages are:
You can get a good discount if you pay annually.
3Commas has a live chat on the platform through which the users can reach the support team in an instant. The company also has a wealth of resources that are available on the platform. The support section contains several guides and FAQs that help the users to get to grips with the most important issues.
The team also maintains a blog that details many key concepts for newer traders. The support team also provides further assistance via their Telegram group, YouTube Channel, and other social media channels.