3commas trading bot tutorial - 11 tips for 3commas - Improve your gordon DCA bots!

hello guys welcome to the train pirate let's be honest guys when we join three commas for the first time the first thing that you will do normally is you go straight into the dca bolts you select gordon boat you pick one of the levels of risk you assign an amount of money and that's how we start right but we know that these are very user-friendly boats that that allow you to get started very quickly with the platform and to have an idea of how good or bad the platform can be but in fact there's just too many people using the basic settings of these bots at the same time which doesn't make them really the most effective way to take full advantage of the votes in this platform today we'll present 11 tips that every new user on three commas should consider once you want to take your bots to the next level this video is both for beginners and also for new users of three commands that you want to get up to speed very quickly this is the trading parent in this channel i focus on mainly four areas building a growth portfolio on trading to one two building a social portfolio on etoro crypto and automated trading bots on three commas and prokwant make sure you subscribe to the channel and select the notification bell so you get notified every time we post a video in order to get notified or for buy and sell signals make sure you join our discord server all people joining before we hit a thousand youtube subscribers will benefit from lifetime access to all the channels including the buy sell signals and the top performing bots and if you are interested in getting some extra premium content have a look at our patreon in fiverr accounts where you can find all the one-to-one dedicated support and help by assume calls that you can imagine you can find all the links in the description below so as a typical user just joining three commas for the first day you will probably go straight into dca bots you will trying to find where is the gordon boat and you will try to set up one of them right and what is the first thing that is asking you the system is going to ask you for what's the level of risk that you want to take with the bot uh in the gordon setup that's the only question that you are being asked and if we draw a chart of time versus money and let's say you pick the riskier one the riskier one probably is going to offer you the the best you know profits compared to the three levels you also have a moderate somewhere here and let's say the conservative uh sits below the moderate that kind of makes sense so what's the difference well the difference apart from the profit and the ride is going to be very different through time so you're going to perceive on the risk here much more volatility is going to be something crazy uh i mean i'm being actually very optimistic here it went straight up but actually it could be that it starts down and then it goes up that's more kind of what we all have experienced once at least with a risky bot then the moderate is going to be a little bit more balanced still with some hiccups but compared to the riskier you should expect less volatility and the conservative way closer to the line and yes some some ups and downs as well um so these tips that i'm gonna share with you actually are are not meant to be used all at the same time i mean you you shouldn't use the 11 tips at the same time some of these tips are going to you know push the performance up or push the performance down and you're going to ask me so why are you sharing a tip that's gonna affect negatively the the performance well because some of these tips are meant to help you making the default settings a little bit more conservative and avoid having some false negative or some deals that they take forever to close and so there's there's different things that we probably want to tweak depending on our own preferences so take these 11 tips as i'm gonna take note the ones i actually it feels like i want to have that sort of experience i want to improve the bot in that way and and it's not always i want to just improve the performance sometimes i want to make it a little bit more conservative i'm tired of this bot opening wrong deals etc this kind of thinking you need to apply and then cherry pick the tips that you actually want so let's get started with the tips tip number one uh when you are in the list of bots it's very difficult to compare one bot with another that you're going to end up with multiple bots and it's gonna very quickly get unmanageable so the first tip is name your bots properly the default bot of a gordon is normally my composite bot which is terrible you won't remember what was it about after you start trying different strategies so in order to change the name when you land in the edit page of the gordon for the first time you're going to have to go to advance that's the only place you can change the name then after after that you can remove the composite bot and here is the suggestion for the name so for example this bot is using a total of 991 usd dollar and so i suggest you you call the bot you start with the amount of money that's very important when you're we have a multiple choice at least you can see okay this is for 1k this is for 10k or this is for 100k you know it matters so first call it 1k for example then look at the coins you're using you're trading on top of usdt this is a composite bot so let's call it usdt all because it's trading usd versus all coins very simple and the next thing that is matters a lot to me is what's the strategy i'm using well here i'm using ufl at free at least you should mention something like this qfl3 so you remember and if you're using you know on another one qfl and you know different settings you also want to know but if you want more detail you can also say mention here whether this is the risky and the riskier one you know the the the original qfl is normally the setting for the riskier so you you have to remember that day trading i think is moderate and conservative is the conservative so you can use you can mention that as well if you want you can make it more verbose just bear in mind that if the name is too long you won't be able to see the name in the ios app which really sucks the app is not as great as the android one but on ios you cannot see a very long name so you probably will be able to see up until here which is really annoying hope they they fix it soon then you need to follow the name if you really want a meaningful name uh possibly by the tech the sorry the stop loss the stop loss is critical to know what level of stop loss you have in your boat especially when things are turning ugly you're going to want to know which ones you set up stop loss which one is tighter tighter and so you you wreck first etc so here i tend to put the amount of stop loss followed by stop loss and if i don't have stop loss i still say no stop loss because i i really freak out when when i need to take care of the bots quickly i then can filter all the ones that they have stop loss no stop loss with the ones that are you doing qfl cqs etc all that in your name is a must-have that's the tip number one so tip number two this could give you a comparative advantage in certain circumstances so for this is called the deal start delay parameter you can find it in the advanced settings on the bot and you could consider from one or two seconds maybe to wait when you get the signal and not straight go and open the deal and this could give you a comparative advantage versus all the mass of traders that they are reacting to the signal and you actually enter slightly after if the price is on a trend down you know you're gonna benefit maybe from a slightly better price so don't don't overuse this don't go crazy don't put 200 seconds because that wouldn't make any sense but one two seconds cool in with certain signals can give you um a best advantage versus the rest of the people that's the tip number two tip number three and this is to do with the take profit so all the the golden bolts the default settings are quite ambitious compared to to the settings of other bots they all come with two percent which means that the price from the entry price it needs to go two percent up before it can take profit which is quite high um i mean for a dca bot most of the people they use one percent and even some more conservative people they go four zero eight right and that the lower that you pick the take profit the more you know often and the sooner you will be able to close deals you will be making less money right in a single deal of course but if if this is using the right way with the right signal um you know you you could be closing much quicker and and getting the profit much more often and sometimes it can also give you a very good advantage if the price goes up to 1.5 for example and then there's a retracement and it drops you could have taken 1.5 but you you didn't take anything because you were waiting for it to get to two percent tip number four so the this tip is to do with once we take profit and using a trailing deviation so consider using one because once we hit the two percent if you have this enabled and you set it normally you will set it to two percent of the take profit if so in this case is 0.2 if you have one here you will go for zero one etc but if you are have this enabled it means that if the price goes up above two percent and it keeps going up without any a drop you can keep making more profit and more profit i mean in theory is this is absolutely impossible but in theory you can get to 200 with the trailing deviation as long as the price never drops more than 0.2 percent during the whole a journey going above the two percent so that's very low likely but you could benefit sometimes from a three a four percent and it all depends on how aggressive the price is is going up when it's crossing the two percent if it's actually fluctuating you know you can actually end up making less than two percent sometimes in this scenario here you the worst case you can make 1.8 and that will happen if you you hit the two percent just above and the trailing deviation gets activated and suddenly the price drops aggressively down in which case you end up taking 1.8 so let's consider it like a trade-off some deals are going to end up in 1.8 but maybe some others are gonna end up in three four five so it's it's a good tip i i personally always have the trailing enable and and it's very you know i i tend to see more often higher profit rates than the 1.8 so i believe it's a good compromise so this is the tip number five consider splitting your bots in groups of coins don't necessarily have a single bot with all the coins together and one way to split the coins and that could really work very well is to have some bolts that they trade only um ptc against usdt so you can enable that bot for when btc is bullish and then disable it when when it's bearish you can also group all it's a good idea to to group all the low cap coins all the the coins that are priced very low and only enable it when they go bullish and in a third group that i tend to also have all together is bots that are trading all the top coins except for btc so you know ethereum other you know all the xrp silico so all the top coins and that can be up to 10 it's good to have them together because they tend to follow what bitcoin did so if bitcoin was bullish for one week and on the upside and you were making a lot of money with the dca bot of btc then as soon as it settles you know it's time to start enabling the top coins and and when you see the signal for the altcoins then you can enable the other bots the other group of bots so that gives you much more flexibility on what you want to enable or disable if you have everything in a single boat you know you never know when to switch on what or which one so it's much more difficult tip number six consider getting a signal to control when your bots are on or off this is very useful there are some paid signals there's free signals as well there are indicators on trading view that you can use for this but the main point is having something that can forecast the price of either btc or the altcoins and know in advance or have some idea of how things are going to be in the next days and therefore switching on and off accordingly your bots depending on what's the forecast right and actually it's very simple i have recorded a while ago a video that explained this step by step the link is in the description or appearing on on your screen and in this video i explain step by step you know how to copy this text from here that you you need to have it in the alert and trading views it's very it's very simple it takes just a few minutes and then you don't have to be carrying uh you know and and and switching them on and off based on emotions you actually can follow uh an actual indicator that you know can forecast more accurately and what's going to happen when is it good to have it on when is it bad to have it off etc tip number seven um how many times has it happened to you that you enter a deal it's not necessarily you know going down and and you're not losing a lot but neither you're being able to close the deal it's taking forever and that's because you enter in a deal with a coin that was some very low volume and the way to filter that out to try to you know get away with deals that have more chances to close sooner is by increasing the minimum daily volume that you expect to be in in that coin before you open a deal so you could consider from 10 to 50 or even higher than that to to filter to filter those low volume coins and by doing that it it kind of increases the chances that that your trades are going to close sooner but bear in mind that by enabling this as well you're going to miss out on some other trades that maybe took took longer but also it was a lot of profit that you might have missed um so two options either you don't use it and maybe you make more profit or or you want to filter them all out and you just want traits that are very quick it's up to you tip number eight some people have had very bad experiences with cheap coins so coins that are extremely cheap and the reason for that is because the cheaper a coin is and the more crazy things can happen to to that coin of course they can go two thousand percent up or you know two thousand percent down in a couple of minutes and and and that that can turn into something really great or something really bad so for the people that you know have experienced this or or if you really want to stay away from them i suggest that you use the minimum price to open deal and this is again in btc so you will have to set up something something like this you should be able to to filter out you know those too too cheap too low priced a coins and and help avoid things going too crazy tip number nine if you're like me and you are on an exchange that supports leverage tokens and there's a way to filter them so there's something called the blacklist which is at the top of the list of all your bots and in the blacklist very mind that is share between the paper trading account and the real account so if you add a pair here that you want to blacklist you don't want to trade it that is also going to affect the real account that took me a mistake to learn because i i wanted to clear the blacklist in the paper trading i wanted to use all of them and then suddenly i moved to the real account i realized they were all wiped because i removed them from the paper they're shared so be careful with that and but you know if you don't want to trade with leverage you want to you don't want to use margin coins and consider adding them all here on binance is pretty simple because they are all named ended in down or in app so you can just search here for app i don't find anything because they are all there but if i remove one in the search for app they will appear and then you can add them here after that i suggest you you know collapse the the blacklist because you know this ui is terrible you you can hit accidentally one of them like btc down and suddenly you're gonna enter long on btc down which means you're go you're shortening btc and with leverage okay you can lose a crazy amount of money by making that mistake consider adding leverage there if you're a beginner if you don't know what i'm talking about you know make sure that if you're on binance at least you know search for up and down at the mall before you enable any bot on a real account uh tip number 10 consider connecting your three commas to telegram and this is pretty useful because actually you can get notified of everything that's going on with the watts with notifications you can have it on desktop and you can also you know control your account from telegram so you can you can go with help here you know you will get a list of comments that you can perform you can see all the votes you're running your subscription your active deals stats everything and you can tell things to particular bots to stop to go long to everything so it's pretty useful which is actually very simple to set up you just go to settings of the user settings and there's a section for telegram where you have to put your your user on on telegram and it's going to ask you to connect the the two things it takes literally 30 seconds and it's very useful when you are starting on three commas you probably want to see what's going on with your account and and how the the the bots are performing and this is perfect for that after a while it's going to become very verbose in which case you can go to your settings and start doing some fine tuning on what events you don't want i suggest you get all the deals close enabled plus um if there's any error so for example there's not enough funds to trade or to open a base order and stuff like that you want to know and if you don't have this you know on the website it won't tell you unless you go to the boat you go to the log and you start scrolling through the logs to find what's going wrong so it's good to have it here and and to get notified and the beginning in case you're doing something horribly wrong and you know the whole day doing the wrong thing it's good to see it here you scroll through the events and then you go to the website and you take care of it if you don't get it you know you won't get any notification in the three commas apps ios or android you won't know what's wrong until it's very late hopefully not okay and tip 11 this is more like a bonus tip and i recommend that you don't invest on bots more than five percent of your capital that that is already a lot i mean bots are very volatile and they represent a lot of risk you really need to have seen how they perform for a long time to get an idea of how they can really overreact to variations in price of btc variations of eth you know these bitcoins they really affect all the altcoins and the bots you know can really turn into massively uh red but for you to have an idea on how they can overreact you know look at this in november the price of bitcoin went 16 down in a few minutes and and this turned from 4 000 uh of profit into minus 1600 and that happened in in just during a single day of course you know they they recover yeah they do recover but if this might not be for everybody maybe not everybody is willing to take this and if this was all your money you know it can really be scary so i i do recommend that either you try bots for at least you know one or two months on paper trading or you are actually trading with a little percentage of your capital that you're willing you know to see to go up and down you know i'm confident that my bots you know on the long run they they keep going up but you know if you get scared on a dip like this and you pull out basically you took all the hit you never recover and you lost your money and then you hate bots so for me it's fine you know i mean a few days after i'm exactly where i was and i keep going i mean this is just a paper trading just to give you an example but in my real account you know i've seen this uh this these drops those are expected and you know i try to to avoid them with with signals and different things but sometimes they're unavoidable and you're just gonna take a hit so for that be prepared and don't put all your money don't get excited on this curve when you're going up and and decide to invest everything because it's just going super amazing and then you take the hit and you lose a lot you close the boats you close your fur comas account you go home boom no that's that's bad so it's it's a bonus tip but in my opinion is the most important of all because you know i want you to to do well uh thanks very much guys i hope you find at least one of these tips very useful and if you did please consider subscribing hitting the notification bell hit the like as well that's awesome for me but the best thing that you can ever do to support this channel is to leave a comment to engage in the different videos leaving different comments that's the best way this channel can really grow um seriously it can really grow so for those who have already done it i really appreciated it the channel is doing pretty well i'm really excited with this project i'm really enjoying it so see you in the next one thank you bye

Channel: The Trading Parrot

Views: 63,702

Keywords: 3commas bot, 3commas, 3commas tutorial, crypto trading bot, trading bot, 3commas bots explained, binance trading bot, best 3commas settings, how to use 3commas, trading bots explained, best crypto trading bot, 3commas for beginners, 3commas gordon bot, 3commas gordon bot review, 3commas dca bot, 3commas trading bot tutorial, binance bot, 3commas bot tutorial

Id: FwpaCOGTAeQ

Length: 25min 21sec (1521 seconds)

Published: Mon Dec 21 2020