This 3Commas review looks at one of the most popular and successful automated crypto trading bots on the market.
When it comes to trading emotions have a profound impact on our decision making.
Fear, greed, hope, anxiety, boredom, and frustration are controlling emotions that more often than not influence losing trades.
Therefore, successful traders are those who can control their emotions but let’s face it that’s easier said than done.
And as algorithms and artificial intelligence begin to improve all aspects of our life the question arises, can 3Commas automated trading bots maximize crypto trading profits by eliminating emotions?
3Commas is an automated crypto trading bot platform that started in 2017 and currently has a daily turnover of over $60 million.
The platform makes trading bots accessible to everyday traders and requires no programming skills.
Furthermore, users can take advantage of a number of automated trading strategies, as well as, the extremely popular copy trade feature.
The platform effortlessly connects with most major exchanges through API keys. 3Commas exchanges include Binance, Bitmex, Bitfinex, Coinbase, Huobi, Kraken, Kucoin, and Okex to mention a few.
Furthermore, the 3Commas SmartTrade feature allows users to trade simultaneously across a number of cryptocurrency exchanges all through a single dashboard.
How do Trading Bots Work?
Next up in this 3Commas review, we will look at how the platforms trading bots utilize powerful algorithms to identify and execute the best trades possible no matter what the market conditions are. 3Commas have three types of trading bots.
Gordon automated crypto trading bots come partially configurated and designed to help new users get up and running quickly. Furthermore, they trade using the QFL Crypto Trading Strategy. This well-known strategy aims to capitalize on bullish price action by buying low and selling high.
3Commas advanced bots give users full customization options over the bots parameters. As a result, users can create their own winning strategies by setting up to their stop loss and take profit commands to maximize profits. Users can also choose whether to target single or multiple currency pairs and adjust coin volumes.
The GRID bot is a relatively new bot that uses advanced AI settings to divide a price chart into slices. Each slice on the chart represents a buy or sell signal. The bot aims to catch every price movement in a specific range by opening simultaneous buy and sell orders. Furthermore, trades execute as the price action passes between the slices.
3Commas newest automated crypto trading bot intended to work well in times of high volatility. The bot combines two simple trading strategies ‘Long Call A’ and ‘Long Put A’. Essentially, the bot places simultaneous buy and sell options at the same price. Moreover, users can profit when the price moves in any direction.
Trading Signal Marketplace
No 3Commas review would be complete without mentioning the fantastic trading signals marketplace.
An outstanding feature of the 3Commas platform is the ability to purchase other users’ automated crypto trading bot strategies. This is great for users who are new to crypto trading bots or those who are not yet confident enough to trade solo.
Furthermore, 3Commas trading signal marketplace provides a clear and transparent view of each bots historical trading results. Thus, users can easily identify profitable trading bots with a proven track record to create a cryptocurrency passive income.
Is 3Commas Profitable?
The main purpose of this 3Commas review is to establish whether or not the platform is profitable. And we can assure you, 3Commas automated crypto trading bots have the potential to be very profitable should you utilize the right trading strategy.
On the other hand, employing the wrong strategy can be damaging to your account. As such, for beginners, we recommend choosing a proven strategy from the trading signals marketplace.
3Commas offer three subscription packages Starter, Advanced and Pro. In addition, all packages come with 23 supported exchanges, public API, free mobile app and paper trading.
The starter plan begins at $14.50 a month and entitles users to long and short algorithms. However, it does not come with the ability to automate crypto trades which is a major drawback of this plan.
At $24.50 the advanced plan is the cheapest subscription that grants access to automated bots. In addition, the plan comes with direct access to TradingView’s custom signals feature.
The pro plan comes packed with all the trading features you could dream of and more for a very reasonable $49.50 per month. Features include the ability to utilize both simple and composite bots, margin trading bots, and options trading bots.
Is 3Commas Safe?
First of all, funds never leave the users’ exchange account. 3Commas bots connect to the users’ exchange via API. This grants them permission to only execute trades. Bots do not have the ability to make deposits and withdrawals from a user’s account. Thus, 3Commas is a safe platform provided you are using an appropriate trading strategy.
The 3Commas review team was very impressed with the platform.
The platform is extremely easy to use and streamlines trading by connecting multiple exchanges to one easy to use interface. Furthermore, users can purchase and run provably profitable automated trading strategies in minutes.
All in all, it’s not hard to see why 3Commas crypto trading bots are a top choice for both pro and novice bot traders.