Description of the service 3commas.io:
3commas.io is service for traders that will significantly improve the quality of your trades. Works on API without money withdrawal. Below is a short description of how to use the service and why it is needed.
1. Trade on any enyexchanges in one window
In order to conduct all trades from one window it is enough to connect your stock accounts to the 3commas.io service
2. Simultaneous StopLoss and TakeProfit
Another important detail that will improve the quality of your trades is the simultaneous goals StopLoss and TakeProfit on any of the exchanges that we support at the moment (and there are not a few of them, Poloniex, Bittrex, Binance, BitFinex, Kucoin + in the nearest plans of BitStamp and HitBTC)
3. Trailing mechanisms, what do they do? Why are they doing that?
Example Trailing StopLoss.
You bought 1 ETH for 0.05 BTC, set a stop loss in our system, for example 10% (0.045BTC) and take profit 20% (0.06 BTC). The trailing stop always follows the price and moves the stop-loss after the price moves toward the target take profit. Example: the price of ETH increased by 10% (0.55 btc) - now your stoploss of 10% will be rearranged 0,0495 btc.
Example of Trailing TakeProfit.
- You open a position at a price, say $ 5. Set TakeProfit to $ 6. The TP condition itself means that when the price reaches $ 6, your position will close, you will earn $ 1.
- Trailing TakeProfit is needed in order to maximize profits - that is, if the value of the position increases, do not close it at a fixed price, but raise the closing condition while the value goes up. For the example of the position described above, if you bet Trailing TP $ 7 (40% of the growth from the initial one), while the price goes up: $ 6 (20%), $ 7 (40%), $ 8 (60%), the closing position changes - price Take Profit grows.
- At a time when the price goes down more than X% (which you set in the settings), the position closes. If this happens for example, for $ 9 dollars, you will earn an additional $ 3 due Trailing Take Profit.
4. Traders Diary
Report on all your transactions, with convenient filters, now you can analyze your trades much faster, or for example to share your results with colleagues.
In the trader's diary there are all the necessary filters that help you to form a report in the required representation for your analysis.