If the market goes your way, the bot sells the assets at the required target and you pocket the difference, it’s as simple as that. The bot enters a trading position following a buy order (limit or market) and a take profit position when you wish to cash in. To help you understand how the DCA bot works, let’s have an in-depth look at the 3Commas DCA long bot. In either case, both types of bots reduce the average price of the crypto you are buying to provide you with an opportunity for profit. It will help you increase your portfolio for when the market takes a more favorable turn and have more coins to sell at a higher price. A DCA Short bot will accumulate more of the base crypto you are trading in case of a market downturn.It will help you close a position in the green even though the price didn’t reach your initial exit target.
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On that note, let’s continue this 3Commas review, by examining your options on how to setup 3Commas bots effectively. Many ask themselves – can you lose money with 3Commas bots? The answer is a resounding YES! Even the best crypto bot strategy isn’t flawless and you should always set up stop losses to reduce risks. When profits reach their target threshold, the bot will sell the assets and increase your portfolio value. But how do 3Commas bots choose to buy something? Simply put, the 3commas bot will open trades once certain conditions set up by the user are met. In essence, the 3commas bot, regardless of its type, opens and closes trades automatically. All of these require a different 3Commas bot configuration, which we will cover in detail further down this 3commas trading bot review. They consist of three different types of bots including DCA bots (dollar-cost average), a trading grid bot, and an options trading bot. So, to begin this 3Commas review, let’s check out the 3Commas trading bot features and see how they work.ģCommas crypto trading bots: how do they work?ģCommas automatic trading bots are, by far, the pivotal feature of this platform. However, for those that wish to still monitor their 3Commas automated trading bots on the go, there’s also a mobile app for both iOS and Android. This version provides the best crypto trading bot personalization possibilities. The main component of the 3Commas automated cryptocurrency trading platform comes in the form of a web app found on 3Commas.io.
To continue this 3Commas review, let’s go over its main features and explain in detail what are 3Commas bots. This is because the 3Commas automated trading bot removes FUD and FOMO out of the equation, two major factors in many traders’ downfalls.
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Additionally, because trades follow a predetermined strategy, the 3Commas bot profitability is more consistent than manual trading. In a nutshell, 3Commas trading bots save enormous amounts of time by allowing you to place hundreds of trades, which would be manually impossible. The team’s expertise in the niche allowed them to push out one of the best cryptocurrency trading bot experiences available. The goal was to provide traders with a platform for crypto trading bots that help them set up automatic trading.Īlthough they were facing some serious competition, the 3Commas automatic trading systems quickly became one of the community’s favorites. Yuriy Sorokin, Egor Razumovskii, and Mikhail Goryunov founded the 3Commas platform in 2017 in Tallinn, Estonia. Let’s get this 3Commas review started with some basics about this crypto trading bot platform and some general info about the founding team behind it. Additionally, we will provide a 3Commas quick guide on how to use the 3Commas app and set up a 3 Commas profitable trading strategy. Here, you will learn what is 3Commas, important details of the 3Commas interface, and how to trade with 3Commas. In this 3Commas review, we take a look at one of the most acclaimed cryptocurrency trading bot platforms available on the market. Options Bot: Hard Financial Instrument to Master How to Use 3Commas Grid Bot in Your Strategy? 3commas TradingView Bot: Customize Your Trading Strategy How to Use 3commas DCA Bots in Your Trading Strategy? 3Commas crypto trading bots: how do they work?
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