What’s up guys and welcome back to another post. In today’s post, I’m going to be talking all about 3Commas Binance Review and how it can change your trading strategy.
3Commas Binance Review: Introduction
Now, if you don’t already know what 3Commas is then this is going to be a great post for you because I’m going to go through the basic functions and features that 3Commas has. Also, let you know if it’s worth paying a subscription fee and also give you some demos on potential trades and that kind of good stuff.
But before we start the post let me know down in the comments below if you like the new setup with the lights and everything.
Let me know down in the comments below when we jump into more technical stuff.
So, getting into the post. 3Commas is basically a third party API integration with different exchanges like Binance, Bittrex, and all those different top exchanges.
Pretty much every top exchange they’re going to have availability for. So that’s definitely a great feature. Now one of the main things, why I use 3Commas, is simply because it allows you to use take profit and stop loss on the same trade.
Now, if you’ve been trading with Binance for a while now you probably know, you can only take profit or a stop loss. You can’t use both, but 3Commas allows you to do this.
You can put those two together and create the perfect trading combo which is having at a trailing take profit and also having a trailing stop loss. But also offers the normal stop loss in the normal take profit if that’s what you want.
3Commas Binance Review: Fee
I’ve been using 3Commas now since around March 2018 or coming up to almost one year now I’ve been using it.
The subscription fee for some people is a little high personally, but if you work it out over the year I don’t actually think it’s that bad.
The subscription fee is around twenty-nine dollars per month or around twenty-two dollars if you pay on a yearly fee, which is not the cheapest but when you take into account the trades that you’re going to be making and the potential profit it can make you are actually not too bad.
So, what I mean when I talk about this? Basically what I mean is you’ve got to work out if the subscription is twenty-nine dollars per month, if you think 3Commas can make twenty-nine dollars per month for you or more.
Now for me, it’s a no brainer. Of course, it can. Having the ability to go to sleep at night with the trade open with a take profit under stop-loss, both it’s worth fifty dollars a month for me. Just to have the safety and the security to plan your trades out and execute them all automated.
It’s worth way more than twenty-nine dollars a month in my opinion but that’s what they’re charging. So twenty-nine dollars a month what does that get you?.
That gets you the basic plan which is really all you need. It allows you to some of the basic access which is pretty much what you need.
I use the Pro account because I’ve been using it for more than one year now but when I first started I only used the basic account which is 29 bucks per month.
3Commas for Binance Basic Plan
So, what this will get you? it will get you the main functionality which I personally like. which is the set take profit and the stop loss along with the trailing take profit and the trailing stop loss as well.
I believe you maybe get some limited access to bots but I don’t personally use any of the bots on 3Commas or any other platform so I probably wouldn’t be the best guy to go for advice on that.
So twenty-nine bucks more. It’s a pretty decent price and it just allows you the safety and security in fact of making sure your trade is covered if the price goes up or if it goes down.
So, something like a trailing take profit is very very useful and something like the Binance of Bittrex they just don’t have this functionality.
So a trailing take profit, basically means if you set your profit target at 5 percent but the trade the market goes up to maybe 10 percent profit.
If you weren’t using the 3Commas trailing feature, it would have sold a 5 percent profit.
But if you are using 3Commas or another third party API integration with your exchange, rather than taking that 5 percent profit with the trailing take profit on you could potentially sell it all the way up to 10 percent.
So, it actually gives you the potential to make even more profit than you would have normally.
So, I think it’s a really good functionality. Same with a trailing stop loss. It works the same but on the Stop-Loss side of things. I think it’s great functionality and definitely a valuable asset to have when trading.
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And with the blueprint, you also get lifetime access to the trade calls, which are forty-nine dollars per month. If you wanted them on their own so please check out the links and make a bit of money on the way.
3Commas Binance Review: Features & Functionality
Now we’re inside 3Commas Binance Review. Let’s take a little bit of a look at the functionality and some of the features that it has.
So right now I’m on the main dashboard. This is pretty much where you will be once you sign up and log in.
On the left-hand side of the dashboard, we have SmartTrade that’s predominantly what I use. We have the box here which you can use. I don’t personally but you definitely can. You have the exchanges, that’s where you link 3Commas the exchange.
We have the Trade Diary, where all the different trades you made. We have your portfolios. You can also follow different people’s portfolios and see how well they perform.
So, it’s pretty interesting but it only works if you hold your crypto on an exchange, which I don’t recommend you do. We have the subscription here which is the payment stuff and we have to invite friends which are all your referrals and stuff like that.
So, if you do want to join the 3Commas, check out the link, I believe it’s a ten-dollar free credit so you can make a few trades.
So predominately what I use is smart trade over here. I mean one trade I just opened trade for the purpose of the video. It’s just a long position on XRP.
I’m currently making two dollars and 19 cent, so I’m currently in a little bit of profit. You can see that we basically have a smart trade.
I’m not going to be going over a full tutorial of how to use it. Smart trade is where you buy and sell within one function, smart sell is predominantly what I use I buy on Binance and then I go in here and adjust the Smarts sell you know the take profit we are the stop loss we have the trailing here trailing there.
So, the overall 3Commas Binance Review is actually pretty good with the smart trade functionality on the Trade Diary and the exchanges and the different portfolio section.
It’s definitely interesting and it can help improve your trades pretty much tenfold. Just the ability to have the trailing stop loss and the trailing take profit, is a reason in itself to in fact make a 3Commas account.
It’s definitely very good. You can see right now here we have in development different things they’re doing released features.
So, basically that’s 3Commas Binance Review. It’s got a night mode just like Trading view which is pretty cool.
So, that’s pretty much the 3Commas trading software for Binance. And this is the dashboard you get to once you have logged in and signed up. They do also have an app for iPhone and Android which is actually pretty good.
I use the app mainly for once I’ve ended a trade or a smart trade. I use the app to check my profit or loss depending on the trade and also on the app you can use a functionality called panic sell which is what you can use on here as well.
But it’s just good if you have the app and you see you’re in like let’s say 3 4 5 percent profit and you hear a bad article or bad press or you think the market is going to take a turn for the worse.
You can simply hit panic sell and it sells your trade at the market price which may give you a little bit less of a profit or more of a lost technically but it gets it sold right away.
So, that’s definitely a great functionality in having the app is very very useful.
That’s pretty much the end of the post. Thanks for reading.
I believe you’re going to get a ten dollar free trial or you’re going to get a discount depending on what promotion they’re running right now.
Let me know what you think of the setup and the lighting down below in the comments below.