I found really good trading tool recently - I am still evaluating it but even right now I can say it has great potential.
It is called 3Commas and it is mainly bot platform with good trading capabilities.
How it works?
- First you connect the platform to marketplaces you want to use - be it Binance, Bittrex, Kucoin, Bitfinex etc. You do it through API keys (which gives it power to do trades and potentially exposes you to a hack/financial loss!).
- Then you set up your bots (there are several options: DCA, Grid and Options bot, you can get predefined ones from Marketplace for free)
- You run them and enjoy profit (or get depressed about loss)
Now, the bots can be set up in multiple ways - use long/short tactics, take predefined profit, select pairs you want it to use, if it uses stop loss and average down tactics etc etc.
I am testing the capabilities so I gave Bittrex's API key to the bot, topped up $20, set target earnings to 0.85% gain (it leaves me 0.35% after Bittrex fee which translates to $0.01), set the deal prices to minimal and BOOM, it is running.
Interesting thing is that bot doesn't close the deals automatically (unless configured to do so), so even if it makes a "grave" mistake and buys on the top of a peak, you can still average down and save the day (may be costly but doable). Or you can forget the deal and leave it open for a long time. I guess if you don't do crazy configs and have financial backup for averaging down it is hard to lose there. But I may be wrong - still testing.
Another very cool feature is that you can set your bot to follow paid/free signals. There are tons of them altogether with their stats so you can make an educated guess:
If you prefer traditional trading, you can use Smart Trade which has some good abilities:
- trading pair signals so you can focus your attention on where the action is happening
- Smart Buy/Sell/Cover which is very configurable and can use Take Profit/Stop Loss (including trailing Take Profit/Stop Loss). Very handy
3Commas is paid platform but it has free tier where you can test one bot and get familiar with the tools (which are still functional). I believe I am gonna get a subscription at some point because I find it very useful.
You should give it a try if you are interested how bots do work or are looking for good, configurable trading tools.
If you would like to check it out, you can do it HERE.
Disclaimer: This is not a financial advice. You make your own decisions and suffer the consequences of these decisions. By giving the platform your marketplace's API keys you exposes yourself to potential hack/financial loss. Be smart. Don't get hacked.
I am using affiliate links in this article, which means I may get paid some tiny fraction of money if you click the link and sign up. But don't worry - it never happens because everyone prefers to cut out the affiliate parameter ;)