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.
So getting into the markets today, we can see that we are at around a 455 billion market cap, so the market cap has been increasing which is nice and we can see bitcoin as it is 9700, which is good.
I believe it will go up to around 9800 which is then is the next support level. If not will be down at 9400. I believe an Ethereum is doing really well 780, that’s very nice to see good gains on an Ethereum.
The US has been seeing that much-needed correction talent from around 20 to twenty-three dollars which is really nice to see.
And a couple of others are in fact doing very very well. So yeah the market is looking really really good. I just want to let you know guys about one of the trades that happened on the trade calls which is forty-nine dollars a month and give you a bit of advice on trading before you do start with the post.
Now, of course, I want you to join the trade calls but also regardless of that I want to give you a bit of advice when trading on Binance with 3Commas. When I put out a Trade Alert on nano on May the 1st a couple of days ago and I, in fact, entered the trade here at around eighty-nine hundred and thirty Satoshis something like that when I put the trade call out and it wasn’t in the Buy area.
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.
Now it can be very difficult when trading when to take profit and that’s really why I’m bringing you this post today because this is going to help you not only take profit but also have a better way of in fact it taking as much profits as you possibly can.
So this is a great trade. I believe it is about a 20 percent trade. Yeah, 20-21 percent trade in the space of two days. So it is a really nice trade and very nice to see.
So that’s the bitcoin blueprint is the training and educational videos and the trade calls. We’ll get live calls like this. So the platform I’m going to be talking to you about today is, in fact, a platform called 3Commas.
Now you may have heard about this before. I’ve heard about it before. I’ve only just recently got into it and I’ve been using it and testing it pretty extensively and I’m going to continue doing that and I’m in fact using this trade daily.
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.
There’s a little box you can check and uncheck and it’s when you’re setting up your API integration and if withdraw is not ticked then there’s no way that this program can, in fact, withdraw any money.
So, your crypto is all perfectly safe and the guys over at 3Commas is a really nice educational guy funny story. 3Commas, as it was actually started from a few guys who wanted to in fact, have a stop loss and a limit sell order just to protect their crypto and also get the profits just in case they went to sleep.
So it’s a really fun story and it’s turned into a great company. So, we can see here the Bitcoin price. The total balance on my balance account 6.5 Bitcoin.
And we can see basically you just connected to your exchange and got tutorials on how to do that. And then they have a smart trade as well.
They do have other things though they have an auto trading bot. I haven’t used that yet. I will be in the future and I’ll let you guys know how it is.
But I’m going to be focusing on the 3Commas SmartTrade.
So let’s say you got into the Nano trade from the trade Coles Group you bought it around 8900 Satoshis and you said your stop loss here for around 8500 Satoshi. Now, if you here the stop loss wouldn’t have actually triggered, a lot of people e-mailed me and said to me when it dropped below the buy area they panic and they sold all guys.
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.
So, we can see over here we have a SmartTrade. We can do everything from buying to selling to setting a stop loss.
However, I already had already bought nano so I went over to small sell not what you can do?
You enter your buy price what you bought it for and then you would then go over here and set take profit.
Now, this is something that you can set for example over on nano, I might I don’t want to be too greedy, I’m going to set my profit at around 10000 Satoshi.
So what you would do you go and type in 10000 Satoshi. Of course, this won’t be. This won’t work now because it’s higher than that price.
But back then this is what you could have done. Then you will in fact that will be of course there’ll be a loss. But back then it would have been a profit over a current example would Tron in a second.
And then you can have something called a trailing take profit. Basically what this does, is every time the price increases your take profit also increases.
So let’s say you said you take profits here at 1000 Satoshi, if it goes over 1000 Satoshi is your it’s not going to take the profit, it’s going the way up until we see a reduction in 3 percent which is what we set.
So let’s say. this is a really really great function because you can ride the pump all the way up and if it goes down 3 percent a little bit then you can, in fact, go ahead and take your profit.
So let’s say here you set your buy zone at 1000 Satoshi which is around here but it does, in fact, go up a little bit more. It goes up an extra two point two percent. So just by using 3Commas, you could have got an extra two point two percent or even more.
And then once it reached this point it will come down by a few percent and then your trailing take profit would trigger and then it would go ahead and sell getting you more money for your trade.
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.
These all the trade different trades that are currently open and you have your history here. So at 10:13 am I entered a trade on BTS, Yes I bought it at 3630 Satoshi and I am currently one point five seven percent in profit.
As of right now, I’m only trading with 0.1 bitcoin to the profit isn’t huge. This is more for demonstration purposes.
So we can see this. I, in fact, set my trailing stop loss at thirty-five hundred and seventy-three Satoshi is I might take profit at thirty nine twenty.
I believe I set a trailing stop off loss of around 3 percent and a take profit at around 8 percent something like that.
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.
Now if you’re hearing about the pricing it’s pretty affordable. You can get started with 30 dollars but not only that if you click the link, you’ll get 10 dollars free when you make your account.
So 10 dollars will allow you to do between 1 to 5 trades depending on how much you’re trading with.
For example, if you’re trading with four thousand dollars ish it will give you one trade, if you’re trading with around 2000 dollars, I believe it’ll give you two trades and so on and so on so definitely if you’re trading with around a thousand bucks you might get a couple of trades with this.
They do take a point to 5 percent commission from you when you trade, but if you’re using DMB token when you’re trading, Binance will only take a 0.5 percent profit and 3 commerce will take a 0.25 percent commission. So you’ll be paying 0.75, so less than 1 percent on each trade and if you’re making upwards of 20 percent and that’s not really too bad.
So let’s give you an example right now on Tron. This is how I would go ahead and set something up like this. So I’m gonna go over to SmartTrade and I’m going to it’s connected to my Binance account.
It’s really easy to connect. I’m gonna type in Tron and go I’m gonna go on the BTC pairing now.
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.
Now the buy price let’s say I bought it, which is eight hundred and ninety-two Satoshi, so a hundred and ninety Satoshi is and that cost me a total of point zero eight nine. Now we’ll move on to the market order.
Now, we see we are down here hovering at around a thousand Satoshi, give or take, and I believe it may go back up to around 900 Satoshi and I believe it will go back up to around 1000 Satoshi which will be here for example.
So, what I would do is, set my market order and a thousand Satoshi. Now this shows me that I would get a twelve point three percent profit.
Now not only that if we come down here and set trailing, we can follow the max price deviation and we can set a 3 percent.
So if it went up to this thousand Satoshi and it kept going and then it came back down, I would only lose 3 percent, I wouldn’t lose but I’ll get 3 percent less profit, but it might scalp an extra 5 or 10 percent profit for me.
So, that is very important and have the trailing on and I said the stop loss we can go down here and see previous levels.
I probably set the stop loss for around 850 Satoshi.
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.
Ten thousand units and right now we’re we can see here we bought our eight hundred ninety were a point one percent loss right now. But that’s fine.
It’s well within our trailing stop loss and our profit take profit is going to be around a thousand with a trailing 3 percent take profit. And we can begin to see our current profit or loss as of right now.
I’ve been holding Tron for a while though. So this is just purely demonstration purposes. And yeah that’s basically how we can do that. And if you wanted to cancel it you just go on here and go home cancel and you can, of course, panic hell if you want to.
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.
Last month in my trade calls we made around 118 percent profit. And we did have around four or five losses but the profits were way more to outweigh the losses.
So that’s fine it is going to be perfectly normal to in fact have losses when you’re trading so Bitcoin blueprint you’ll get lifetime access to the trade calls and the trade calls is just 49 bucks a month. Don’t forget to join 3Commas.
Not only that Binance does not allow you to set a stop loss and take profit and limit sale. So with 3Commas you can go ahead and make use of that.