How To Use 3commas Smart Trade Terminal Complete Tutorial

hello fellow traders it's edward with crypto university and in this video we have an exciting lesson for you we're going to be talking about the smart trade terminal so if you don't know how to access the smartray terminal you can just simply pull over on the side tab and click smart trade it'll bring you to the screen that we have here and we've previously covered the buy and sell terminal and we will cover these in future videos this video will strictly be covering the smart trade section of the smart trade terminal all right so starting at the top we have the exchange to choose from i'm going to go ahead and choose from this one we have the market that we want to choose from i'm going to go ahead and choose usdt market and then we can select a pair that we want to map our trade in so depending upon what coin you're looking at trading for the day you can choose your currency pair here these are going to be recommended trading pairs that are powered by trading view you can turn those off here like we previously discussed in other videos or you can look at them to help guide you in your trades so if you scroll down you'll see the candlestick chart powered by trading view and you have all the tools and time frames that you normally would be able to access on training view one of the most beautiful things about this is that you can actually compile multiple indicators onto this chart without having to pay for a pro trading view subscription but on the flip side of that you don't get to run your private scripts so if you have any private indicators like a lot of our students have nitrous bull you won't be able to see it on this trading view chart you'll still have to externally use another trading view but like i said it's beautiful on this one because you actually can get away with using multiple indicators without having to pay for a pro trading view so pros and cons i'm sorry if you've already bought nitrous bull go ahead and just look at it on your regular trading view app or on the website and just use this one for everything else because you can full screen this and literally make all your observations right here um so i'm just going to go ahead and pull it back to the candlesticks only so you can see here the order book is on the right side like you would normally see in your binance trading display or whatever other exchange you might be trading on so this is where things get interesting so right here you can map out how much btc you would want to buy so if i wanted to buy .001 btc i would put that right there if i wanted to buy it at market price right now that's what i would press right here market if i wanted to press at limit price then i would set what price i wanted to pay for it so let's say i didn't want to buy that one btc unless price of bitcoin fell to 42 000. so then i would see that my buy order gets placed right here along the ema it's beautiful you can actually see where your buy order ends up on the grid so if i wanted to set that to 42 4350 it would come up closer you see how the buy price moves on the grid it's beautiful so you can also set a conditional market order meaning that it will trigger when the price reaches the set level right so you delete the bid and ask spread completely so you do you can do a conditional limit order or you can do a conditional market order and this will actually allow the trade to execute as soon as price hits this point so as soon as price hits this the order will be executed at market price that's a conditional market order that's usually what i use to trade there are different scenarios where i would use a limit or market order and there are different fees for each scenario based upon what exchange you're using so i'm just going to go ahead and set a conditional market order for forty three thousand five hundred and then we can see that here on the chart so something that is beautiful about three commas is that you have the option to put trailing by on so if you put trailing by and you have this on by minuscule percentage maybe 0.1 then what would happen here on the chart is if price went into this period of your buy of 43 500 and trailing by would be activated and once trailing buy is activated if price steps away from this point which we have indicated by 0.1 percent in this direction upwards then it will obtain the buy order but if price continues to go below our conditional market buy order then we will wait to buy in for the peak of the dip this is an excellent tool if you time it right and if you know how to use it without wide spreads because then if price went from 43 500 all the way down to 42 000 right before it could come up and see that point one percent difference that we have put in then we actually wouldn't make a buy order until forty two thousand or the the trading software wouldn't make a borrower until forty two thousand so we had mapped out to make our entry at forty three 43 500 and with trailing by we actually bought at a lower price at 42 000 so trailing by is an excellent tool to have i usually set within very small ranges like .05 that way i can make sure that i get in around my prediction times pretty much tried to be as accurate as possible with my predictions so i set minuscule trailing by targets that also helps to avoid a lot of the latency that you might experience in a volatile market so trailing by can be a blessing and a burden but that's how you would use it if you wanted to use it so additionally if you didn't want to press .01 btc let's say you would rather say okay i want to spend 500 then you would type 500 and it would adjust accordingly so now instead of 0.01 we're getting the extra stats right here instead of just a .01 bitcoin we get 0.011495 because we went to 500 instead so now we get to the exciting part and we get to determine where our take profit goal is so as we can see right here we have limit in market order this will be placed on the exchange and order book beforehand and this will be executed at market price so you can go for bid ask or the last last will get you the market price absolute market price so you can determine at what percentage you want so let's say we want to make about two percent we can scroll up and see where our take profit target is on the chart by zooming in here from our buy price so you can see two percent from our buy price wouldn't be that much we could actually aim for much more maybe up like 56 000 so from our buy price we can measure here and see that we're in we could this trade could potentially if you wanted to make a swing trade on this you could potentially make up to 28 but we're going to set multiple take profit targets so that way we can make profits along the way so let's set our first one at two percent that way we can make sure we get some money out of this let's add another take profit target simply press add and let's make this one five percent so let's scroll up and we can see now a new take profit target has been added for you so if you were to buy here if price continues to go in this direction and you accumulate shares here and then price bounces back up to tp1 you make some money if it hits the tp2 you make some more money now let's just let's just say that bitcoin we think bitcoin is going to go back up to 56 000 so we're going to set some more take profit targets along the way and here you can even choose how much of your capital you want to put in at every step so i just left it for 25 for each one because i'm just going to make four steps just for instructional purposes 10 percent here scroll up and you can see where tp3 would be and then on the last one we're going to get a little bit of ludicrous and we're going to hope that we can make that 20 back on our last bit of coins and we can see that we're getting it up here which doesn't seem too unreasonable honestly so we're going to go ahead and map that out and take profit target one of the amazing features about three commas remember how we had trailing by over here to help you buy at the lowest price well we have trailing take profit over here to help you sell at the highest price so you want to keep this again pretty minuscule depending upon what your take profit conditions are i usually like to keep it at point one all right so price continues to come in this direction we our buy order gets filled here then we hit take profit goal one two and three price continues to come up it goes almost parabolic so we continue to see higher price movements well right there at our last take profit target we would actually have enabled trailing take profit so now trailing take profit is following this price movement and if there's a rally it will continue to be in the trade until the trailing take profit difference is met so in other words if the price continues to go up your trade will remain active until price comes down for that drop off right there and if we had a trailing take profit of 0.1 percent once price experienced this dip right here and fell back below in a period of 0.01 as we had defined here the trade would have been completed and you would have sold for that profit instead of cashing out at your last take profit goal of 20 you stayed in the trade and followed the rally all the way up for a whopping 33 right because price peaked here and then came back down and trailing take profit sold your trade for a profit it's a wonderful tool to have on of course it can be a blessing and a burden if you don't know how to use it if you're using it in an illiquid market you can lose out on latency in some of the volatility so don't have wide spreads whenever using trailing buy or trailing take profit and then finally in the stop-loss terminal this is everyone's least favorite part nobody wants to plan for error but it's best if you do because if you fail to prepare then you're prepared to fail so this is where you can manage your risk and determine how much you are willing to gamble on this trade same thing you can do conditional limit or market order and you can do bid ask or last so i'm gonna go ahead and delete this trailing take profit illustration now you can see here there the stop loss is plotted in yellow so you can see the stop-loss portrayed on the chart now as a yellow line that is four percent from our conditional market buy now some awesome features about the stop-loss tool on three commas you actually have a stop loss timeout so if price falls below your stop loss for 100 seconds and stays below it for more than 100 seconds then your stop-loss will be triggered so price comes down here and it gets faked out it stays down here for a minute and then find support comes back over then your trade stays alive this can be a blessing and a burden because if you enable the 100 second for the stop-loss timeout and then price continues to go down well then you've spent another 100 seconds in dangerous territory but it can be helpful because i know a lot of you have been stopped out of trades that in turn were winning you set your stop-loss right to support a resistance and then it was actually concurred after your trade was stopped out and became profitable so this can help for those types of scenarios now just like trailing by and trailing take profit we have trailing stop-loss except trailing stop-loss is a little bit different so it gets activated after the smart trade has bought the coins and after the smart cover has sold coins so it'll follow the price up right so let's just say for example the price of bitcoin comes down here and hits your buy order then price comes up in the other direction and it becomes profitable and you go to take profit three right so right now we're at trailing we're at take profit goal number three so now trailing stop loss would move up and keep that four percent difference from the actual price rate so price right now is that take profit gold three right here right so the stop loss would then move up to keep this distance that it has between the initial buy is four percent this is what we have indicated right here four percent so this distance is four percent so trailing stop loss would then enable the stop loss to come up and stay four percent behind the current price so if price went through take profit one two and that is now at price number three and instead of continuing to go upwards towards take profit goal four it starts to become a losing trade well our stop loss is right here and so it meets and you get stopped out for profit so you took 25 profits here as indicated by this we took 25 of our investment capital profits at take profit one take profit two and it take profit three so we had 25 percent of capital that we were holding on to still in the hopes that we would achieve take profit for and now that trailing stop loss has enabled once the price moves back in a negative direction trailing stop loss is there to save us so we sell the remaining 25 of our trade at a profit because we still are selling it higher than what we paid for it so this is how you can take advantage of all the amazing features of three commas let me just go ahead and delete this real quick alright so now that we've deleted all the mapping that we were using we can show you what the chart looks like so if you like the way that looks and you think that trade is going to work out for you don't try to copy this trade because by the time you see this video the market conditions will be different please do not put these inputs on for your trade your chart has to look good for you that is the purpose of all these tools you can see them beautifully portrayed on this chart so it can all make sense for you and if you like the way it looks go ahead and let that sucker ride and you can press create trade you have one more opportunity to confirm or deny this is what you want to do so you can see the units you want to buy the price you want to pay for them the total you're going to spend for them the stop loss you have your timeout all your take profit goals and a note if you want to put one if you want to do that go ahead and press confirm i'll do so just so i can show you how it looks your smart trade is successfully created so i knew that we're going to be waiting for this to be opened so right now to show you the current position price in comparison to where your open price is you can monitor your active trade here it hasn't started doing anything yet everything is still pending so your options are a little bit different here you can still refresh instead of closing at market price since this trade is not open you can open now at market price and it would still keep all of these settings that you had just input it would keep them all except it would readjust everything to your new buy price so it wouldn't take two percent take profit from this price or ten percent take profit from this price it would now take it at the current market price so you can edit if you click edit it'll just take you back here so you can edit the settings of that trade that we just made or you can cancel which i'm going to go ahead and do now it'll cancel the three columns trade and cancel unfilled orders as i said previously it will not cancel any open orders or any orders that have been filled you'll need to close them at market price in order to do that so i'll go ahead and cancel this order and it's cancelled that is a general rundown of how to use the smart trade terminal i know it was a little bit lengthy but it is definitely necessary that you you understand how to use this terminal right here there's over 21 exchanges that can integrate right now and i'm pretty sure that more will be added as time goes on so it's literally a one-stop shop to manage all your trading activity it's beautiful i love it i love smart trade terminal um but that's enough out of me let's go ahead and get you guys out there and learn how to use this if you have any questions you know where to find me i'll be more than happy to help you figure out how to understand this better for now i think you need to get out there and actually have some fun with it practice see how it actually works because you can listen to me talk about it all day but until you get out there and play around with it for yourself you're never truly going to understand it so that's it for this one guys have at it

Channel: DeadlyCrypto

Views: 2,147

Keywords: How to use 3commas smart trade terminal complete tutorial, How, To, Use, 3commas, Smart, Trade, Tutorial, Complete, Walkthrough, Guide, How To, 3commas.io, Trading software, Trading, Software, Bitcoin, Crypto, Cryptocurrency, SmartTrade

Id: J1ic6wTjiXM

Length: 17min 26sec (1046 seconds)

Published: Wed Sep 01 2021