Saint Petersburg, Russia-based 3Commas affords skilled and starting merchants alike a collection of “good instruments” designed to assist them handle their portfolios throughout a number of cryptocurrency exchanges whereas maximizing income and limiting losses.
Before test-driving the platform, Bitcoinist sat down with 3Commas CMO Mike Goryunov to speak about what prompted the workforce to develop the platform within the first place:
It’s type of a shaggy dog story as a result of we initially constructed this platform for our personal use solely. When we confirmed our challenge to mates within the crypto neighborhood, we noticed a giant want for the sorts of instruments 3commas has and so we determined to open the challenge to everybody.
3Commas opened to the general public in September 2017 and, primarily by phrase of mouth, has grown to over 5000 energetic merchants and a median day by day commerce quantity of over $5 million USD.
Tools and Features
The very first thing that caught our consideration about 3Commas was the clear, uncluttered interface. The platform affords a easy, logical consumer expertise whether or not you might be accessing it through a desktop laptop or cell machine. Russian and English language choices can be found, as nicely, with extra languages within the works.
Cryptocurrency change integrations
3Commas integrates with Poloniex, Bittrex, Bitfinex, Binance, and any Ethereum pockets and the method of hooking up your change account to the platform is quick and easy due to easy-to-follow illustrated documentation. Additional exchanges might be added all through the approaching 12 months.
To decrease threat and to encourage good buying and selling habits, 3Commas has applied two instruments that each dealer ought to be taught to reap the benefits of – Trailing Stop Loss and Trailing Take Profit.
Trailing Stop Loss
A Trailing Stop Loss order is an identical to a typical Stop Loss order in all respects besides one. Both allow you to decrease your losses within the occasion of a value drop, however not like a Stop Loss order that’s set manually at a hard and fast value threshold, a Trailing Stop Loss order is percentage-based and routinely adjusts to cost fluctuations.
For instance, let’s say you buy 10 ETH at $675 every and to reduce any potential losses, you set a Stop Loss order of 10%. This implies that if the value of ETH drops under $607.50, the cease loss order will routinely execute, promoting your ETH at that value.
But what if the value of ETH goes *up* in the course of the day? A typical Stop Loss order will nonetheless solely execute when the value drops under 10% of the unique buy-in value. A Trailing Stop Loss order, nevertheless, routinely adjusts to the value change. So if the value of ETH goes up by 15%, the Trailing Stop Loss order would set off when the adjusted value drops by 10%, netting you a 5% acquire.
Trailing Take Profit
Just like how the Trailing Stop Loss device is designed to reduce losses, the Trailing Take Profit device is designed to maximise positive factors. Using our Ethereum instance from above, let’s say you purchase 10 ETH at $675 every and set a typical Take Profit order at $700. This means that you’d make a revenue of $25 per ETH.
But what if ETH goes larger than $700? You’ve simply misplaced extra potential revenue. A Trailing Take Profit order helps you to promote on the highest a part of a pattern by promoting at a share of the very best worth. So should you set a Trailing Take Profit order of 10% and ETH climbs to $800 after which falls, the promote order would take impact when the value falls under $720 ($800 – 10% = $720), netting you a revenue of $45 per ETH.
3Commas Portfolios device is a novel characteristic that not solely lets customers monitor their precise portfolio’s efficiency over time, but additionally lets them create customized “dream portfolios” of tokens and cash that they suppose might be worthwhile. These customized portfolios are publicly out there to different customers who can analyze them and even add them to their very own precise portfolio.
The Road Ahead
2018 appears to be a really busy 12 months for 3Commas. Several new buying and selling instruments might be added, together with social buying and selling and arbitrage buying and selling. Social buying and selling, which we’re informed might be rolled out someday in February 2018, lets customers ‘observe’ their favourite merchants and replica their trades.
Arbitrage buying and selling will permit customers to reap the benefits of value variations between one change and one other. Essentially, merchants will be capable of purchase low on one change and promote excessive on one other. True crypto arbitrage buying and selling capabilities are few and much between, so the launch of this device, particularly, needs to be of nice curiosity to the crypto neighborhood.
For extra details about 3Commas, or to strive it out for your self, go to 3commas.io.
Ringing within the New Year with a 50% Bonus
In true vacation spirit, and to usher within the new 12 months in grand type, 3Commas are giving customers a 50% bonus on all deposits from December 31, 2017, by January 3, 2018. No promo code is required. Just join at 3Commas (or sign up should you’re already a registered consumer) and make your deposits. Bonuses might be credited routinely.
Have you tried 3Commas but? Which of their buying and selling and portfolio administration instruments do you discover to be probably the most helpful? Let us know within the feedback under.
Images courtesy of 3Commas, Shutterstock
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