Watch this video : https://youtu.be/p6nyNl8E_CI
Trading On Binance With 3Commas
Today’s post is going to be really interesting. Why? Well because a lot of people have been messaging and asking, how I can set a stop loss on Binance and protect my crypto and also set a limit market sell or even a trailing stop loss or trailing sell?
So, basically this post is going to be explaining exactly how you can do that. Some examples and basically how you can make more money per trade and also protect yourself a little bit better.
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Heads up when it enters the buy area, make sure you pick some up and hold it because it’s going to do well. So I entered here, and we see we went into buys only it was looking great.
We came out we went in and then in fact eventually over time scale of about a day or so. We eventually came out the buy zone and went all the way up to almost the top bracket of the profit area.
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What 3Commas is?
it’s basically an API integration into Binance. So you log onto your Binance account and you give you allow 3Commas access for API integration. Now what this allows 3Commas is the software to do, is buy and sell on your account.
However, It does not allow it to withdraw. So don’t worry that they’re going to steal your money because that is just not going to happen.
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This is the reason why we set stop losses. You can’t be trading on Binance with 3Commas with emotion, the second you’re trading with emotion, you’re going to start losing money.
So if we can see it went in and out of the trades on that’s fine. In another buy area that’s fine. But this is the most important part we want to take into account and this is what 3Commas is basically doing best.
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Stop loss and a Trailing Stop Loss
A stop-loss basically sells your crypto when it hits a certain price. On Binance, they have a stop limit but it’s pretty much a similar thing. So I’m going to go over a recent example.
I recently entered a trade on BTS, just a small trader point one bitcoin so I bought at three thousand seven hundred nineteen Satoshi is and I aim to sell at around thirty-nine hundred Satoshi is something like that. So we can go down here and we can see the BTC trade.
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So let’s see how that unfolds and it basically does the whole trade for you. So if it goes into the profit, it will take the profit and it will also sculpt more profit with the trailing take profit which is set for 3 percent to be safe. Not only that but it also secured me with my stop loss.
So now currently on Binance, you cannot set a stop loss and a limit sell or market. So you just can’t do it they haven’t got that functionality yet. That’s why you need a third party like 3Commas.
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I’m going on smart sell because I already have Tron but you could go ahead and buy some if you wanted to on Binance. So I already have seventy-seven thousand Tron. As of right now.
So I could go ahead and trade with the seventy-seven thousand but I’m gonna go ahead and just trade with 10000 for the purpose of this post.
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That’ll be a 4.4 percent loss, if the stop-loss triggers and you can also change it here to 4 percent if you want, select trailing as well because this can help you make a bit more and save you a bit more your crypto, then we’d simply gone create trade we’d confirm smart sell successfully created.
And then we can see it down here in our active trades. So it shows you the body at 12:00 or 1:00 p.m., which is the current time paid, point eight to settle she’s already had the already had Trunzo just inputting what price I paid for it.
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Is 3commas Worth It?
It’s just basically 3Commas in a nutshel, l how it can be really really useful is if you’re on my trade calls.
For example and I put out our trade call like nano just set up your 3Commas and leave it. It’s down 3 percent my stop boss is 4 percent is my stop what’s going to trigger.
Well. the thing is we’re trading guys. not every single trade is successful, it just if you think every single trade of yours is gonna be successful even mine or even a pro trader, who’s been trading for 30 years, not every trade is successful.
To know more : https://binancewiki.io/trading-on-binance-with-3commas/
