3commas.io - best way to manage your investments
United TraderWhy is 3commas useful?
3commas.io provides tools for cryptocurrency traders and investors. With 3commas help, you can maximize your profits, limit your losses from bad traders on crypto exchanges or find a well-performing asset portfolio to invest in
How does 3commas work?
We give you tools to trade with your exchange accounts. To do so, you have to connect 3commas to your exchanges via API. When you create API keys permissions are set only to allow trading, not withdrawal, so your funds are safe. You can find a guide to create API keys here: https://3commas.io/accounts/new. It is important you disable withdrawal when setting up API keys.
Exchange setup:
- Exchange setup:
- You create an account on Bittrex, Poloniex or Bitfinex exchange
- Verify your exchange account (this is optional but very important).
- Make a deposit to your account
- Create an API key on the exchange (without withdrawal!)
- 3commas setup:
- Sign up to 3commas via https://3commas.io/users/sign_up. After signing up you will have access to all the analytics features, but to trade, you need to connect to exchange
- Connect 3commas to the exchange by inserting API key and secret to your 3commas account.
What is SmartTrading?
SmartTrading is a set of tools that help you to trade with profit. With SmarTrading you can plan target TakeProfit and StopLoss simultaneously (you can choose either SL or TP on the exchange). SmartTrading also allows you to “trail” StopLoss and TakeProfits targets, that is called Trailing SL and Trailing TP.
How does Trailing Stop Loss work?
Example.
You buy 1 ETH for 0.05 BTC and set up stop loss at 10% (so at 0.045 BTC). If the price of ETH goes up, let’s say 10%, stop loss will be moving up 10% (so now at 0.0495 btc). Trailing stop loss gives you an option to limit your losses if the price went up first, but then went down.
How does Trailing Take Profit work?
It’s the same logic as TS:
Example: You buy 1BTC for $5. You set up take profit target - $6. This means, that when the price will reach $6 you position will be closed, you will earn $.
But what if price continues to go up? You will be happy to get all that profit, right? So to follow the example, if you turn trailing take profit on, the target is the same $6. But as the price reaches $6 take profit target is moved up too, so you can catch all that upcoming trend. When the price will fall more than X% from its highest point (there is a setting for that), the position will be closed. If that happens at $9, you will make $3, not $1, thanks to TTP.
How do portfolios work?
Portfolios https://3commas.io/portfolios gives you an opportunity to analyze and buy an investment portfolio of crypto token assets. This kind of investments should be understood as passive investments to ETFs or funds - you buy tokens allocated in some way and hold them.
How do I invest in a portfolio?
Firstly, you find an existing portfolio, created by someone else, or create your own. To create a portfolio using “Analyze new portfolio” button. https://3commas.io/portfolios/new. When the portfolio is created (or you open one created by someone else) you can see analysis its performance.
You can save your portfolio and follow its performance (not buying the tokens), to do so you have to press Save & Publish. Now every user on 3commas.io is able to see, follow, or copy it.
When the desired portfolio is found and you are finally ready to buy it, you have to press Apply to exchange - ALL(!) your balance will be used to but token with specified allocation. Also you can view and analyze any portfolio already created by other users and buy it, pressing Apply button.
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