3Commas Review: Is It the Best Trading Bot?
What is 3commas
3Commas began in 2014 and is as old as Haasonline’s largest trading bot. 3Commas and Haasonline have nearly the same characteristics. The differences between bots are never so great. It is still possible to trade manually with 3Commas, apart from creating an automatic bot. This is called intelligent trading on the platform. The advantage of this feature is that a stop loss can be added. You can select from a selection of bots divided into categories. All looks clear and you can even backtest your bots.
The 3Commas support platform is good. The combination of many documents and videos ensures you get enough information to start. 3Commas offers the possibility of a free trial and a trade in paper money. So if you want to try bot trading, 3Commas should suit you well. You can contact 3Commas via the support platform, but also on social media and telegram, if you have any questions.
How Does 3Commas Work?
Paper Trading
Before I share the 3Commas features, you should know about the 3Commas paper trading feature. You can test your strategies and trade with virtual money with it. This helps you to learn how to trade and become accustomed to 3Commas.
One Window Trading View
When you register with your email ID in 3commas and log in, you’ll see this as your dashboard for the first time. You can track your balance, prices and other fast-access functions such as ‘Connect to exchanges’ here.
Contemporary Stop-Loss and Take-Profit
Contemporary losses or profit conditions are managed and implemented in real time in accordance with the objectives you set.
An example is this: Let’s say you would like to purchase a coin and your entry price is $X. With 3combs, your order will actually be placed on your selected exchange when your purchase condition is fulfilled. In contrast to traditional exchanges / bots, fake purchase / sell walls are not created.
Likewise, when stop-loss is activated, it constantly looks to see if you actually meet your conditions at the time.
In both ways, your actual funds are never expected to meet the terms and conditions and are not frozen by the exchange itself.
In a word, when ordering 3commas is created, the bots are starting to look at the current price and compare it to your targets (SL / TP)
And as soon as the coin price matches your condition (e.g. profit), the bot closes the position, i.e. it takes profit.
Trailing Stop-Loss and Take-Profit
For instance, you purchase 1 ETH at 0.05 BTC and set a stop loss objective in the system , for example, 10% (0.045BTC) and profit is 20% (0.06 BTC). The trailing stop loss always keeps track of the price and moves the stop loss after the price moves towards the target profit. For instance, the ETH price increases by 10% (0.55 BTC). Your 10 percent stop loss will now be rearranged to 0.0495 BTC.
1. For example, you open up a position at a price of $5. You set the profit to 6 dollars. The condition of the TP itself means that your position will close when the price reaches $6 and you will earn $1.
2. Trailing profits is necessary to maximize profits, that is, if the position’s value goes up, it will not close it at a fixed price, but it will increase its closing status as its value increases. If you wager Trailing TP to 7 dollars (40% of increase from the first), while the price is rising-6 dollars (20%), 7 (40%), 8 dollars (60%)-the closing position changes and the profit growth is growing.
3. The position is closed at a time when the price decreases more than x percent (which you can select in the settings). If it happens, for example, at $9, you will also earn $3, thanks to the profit trailer. Check this official 3-comma guide to learn more about how the trailing take-away feature works.
Real Time Notifications
You can also enable mobile notifications, browser notifications and emails from the top right corner in this setting. You can also change the type of notifications you want and don’t want to receive.
You can also add notes / comments in your trading orders so that you can remember the reasons for the trade or get its audit trail from the report itself. You can also include comments such as “you want to keep this coin for the next six months” to trade effectively with 3 commas.
Another cool feature of this tool is Trader’s Diary, where you receive a consolidated report of your trades across all linked exchanges.
You will also understand at a glance the profit or loss incurred in a particular trade during a certain period when you look at this diary.
Copy-Portfolio
By using this tool you can also explore other people’s portfolios and analyze how they work by following this particular portfolio.
You can also copy a portfolio if you like, but you must have the exchanges linked to 3co for this feature.
Which Exchanges are Supported by 3Commas?
- Binance — Smart Trade, Portfolios, DCA Bots including Gordon bots,
- Margin Trading, GRID bots;
- Binance DEX — Smart Trade;
- Binance Futures — Smart Trade on Futures, DCA Bots, GRID bots;
- Binance US — Smart Trade, DCA Bots including Gordon bots, GRID bots;
- BitMEX — Smart Trade on Futures, DCA Bots, GRID bots;
- Bitfinex — Smart Trade; Portfolios
- Bitstamp — Smart Trade;
- Bittrex — Smart Trade, Portfolios, DCA Bots including Gordon bots;
- Bybit — Smart Trade on Futures, DCA Bots, GRID bots;
- Cex.io — Smart Trade;
- Coinbase Pro (GDAX) — Smart Trade, DCA Bots including Gordon bots;
- GRID bots;
- Deribit — NEW: Options Bot; Smart Trade on Futures;
- Exmo — Smart Trade;
- FTX and FTX.US — Smart Trade, Smart Trade on Futures, DCA Bots, GRID bots;
- Gate.io — Smart Trade;
- HitBTC — Smart Trade;
- Huobi Global — Smart Trade, Portfolios and DCA Bots including Gordon bots;
- Kraken — Smart Trade;
- KuCoin — Smart Trade;
- OKEx — Smart Trade, DCA Bots including Gordon bots;
- Poloniex — Smart Trade, Portfolios;
- YoBit — Smart Trade for pairs with daily volume over 2 BTC.
How to Use 3Commas?
- Sign up at 3Commas via this link
- Connect 3Commas with Any trading platform (We recommend Binance)
- If you want to use the free version forever, keep your total portfolio below $750.
Learn More About 3Commas
Conclusion
3Commas offers a platform that is very accessible and clearly explained. Explanations we miss with other bots sometimes. The free trial and the ability to trade in paper money make 3Commas for beginners. The platform is fully customizable and it is easy to master bots and intelligent trades.
One disadvantage could be the price. Especially because you have to take an Advanced or Pro account to make the most of the platform. It is also a shame, for instance, that you don’t have access to all exchanges with Advanced Accounts, which forces 3Commas to buy a Pro account slightly.
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