Watch this video: https://youtu.be/IhSUuFP1zbU
Login to 3Commas SmartTrade
Now, login to your 3Commas account. We need to choose the exchange that we want to trade on.
In this case, it’s my Binance, which is the Binance account that I just created and now I need to choose a trading pair.
You could select a pair that you’ve been eyeing on Binance either by scrolling down or you could just go ahead and type it in.
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What Trailing Buy Does?
It does, once the price hits where you want to buy, maybe that price will keep going down. What this does is, add a set percent.
Let’s say 1 percent. Every 1 percent, it goes down below the initial price that you selected, the buy price will go lower 1 percent, 1 percent, 1 percent, it’s trailing, it’s following, so that when the price goes back up, you will have purchased it at a cheaper price than you originally would have.
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Market order vs Limit order
A market order is going to sell it to the highest bidder at that moment. If that highest bidder is not buying a lot, then it might fall down a little bit from where you purchased it from. However, if it’s a high volume chart, you’ll probably get sold at that price.
Whereas with a limit order, you decide what price you want to sell and you’re waiting for that price. So you’re waiting for all the bids to come up and it’s going to surpass that price and then it will sell it’ll sell everything at that set limit price.
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What is Set take profit window
There’s Bid, Ask and Last. Bid means you’re going to be selling to the highest bidder. Ask means you’re going to be selling to the lowest person selling. Last means you’re going to be selling when it’s that price exactly.
Coming back over to SmartTade, we have bid, ask and last. We also have a new one limit. This is just like this limit order over here and takes profit. Except now, this is where we want to buy at this absolute price.
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Let me show you why? with stop loss, you can decide at what price you want to exit the trade. You can decide if it’s going to be selling to the highest bidder to the lowest asker or at the last price. I usually leave it on bid.
There’s also this nice little button – stop-loss timeouts.
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Stop Loss timeout means if there’s a sudden drop in the price or what I like to call a fat-fingered drop.
This is not going to trigger your stop loss. It’s just a momentary drop that happens just for one minute. It will not trigger your stop.
This is a huge insurance policy on avoiding getting stopped out by these fat finger drops and happened on so many crypto charts.
A lot of you know what I’m talking about. Maybe you’ve been stopped up before and it’s been painful.
This is a great way to make sure that your trades don’t exit in those times. We also have an option for trailing. This trailing is similar to the take profit except trailing stop loss, works below the price and follows it up.
A GUIDE TO 3COMMAS SMARTTRADE CREATION
https://binancewiki.io/3commas-smarttrade/
