3Commas: How to use automated trading tools to make money in a bear market?

2022-10-17 18:10

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Try Executing Strategies with 3Commas, a Crypto Robot Trading Platform That Raised $37M in Series B Funding

Original source: 3Commas

Smart traders are good at spotting opportunities in crypto bear markets, building their portfolios and Continue to be profitable. They see a bear market as a great opportunity to accumulate money. Crypto asset prices have taken a big discount from their previous peaks, and big rallies are what this market does best. Are you ready to adjust your emotions and start learning how to trade profitably in a bear market?

How can traders make money in a bear market with automated trading tools?

Unlike a bull market, you can buy almost any asset you want, wait a few weeks, then sell for a profit . Bear markets require more complex strategies. You have to be willing to increase the number of trades you take because the basic bear market strategy requires you to target smaller profit opportunities. You need to close a lot of low-margin transactions to reach your money-making goals.

Opening and closing a bunch of manual trades takes a lot of time and frankly it is very repetitive and tedious. But you can choose to execute your strategy through an automated trading bot from a reliable trade management platform that can customize the automated bot for you to help you take advantage of different market situations.

What would a cryptocurrency automated trading tool for a bear market look like?

A reliable automated robot trading platform capable of directly connecting to various top-line cryptocurrency trading platform accounts. Since your strategy will likely involve a lot of trading and "scalping" operations, you will definitely want to avoid using low-liquidity unknown trading platforms. It is recommended that you only use platforms that work with Binance, FTX, OKX, etc. This platform should offer a variety of flexible, configurable robots that can help you profit in any market condition.

By the way, a real trading tool usually does not take trades itself. It connects to your trading platform through an encrypted API, and allows the trading platform account to open and close positions through instructions. The trading tool should also not have permission to withdraw your account funds outside the trading platform, because you can set it in the API permissions of the trading platform to prevent the trading tool from doing this.

Preset bot templates are also a welcome feature, as it smooths out the learning curve for beginner users and allows for quick setup to create bots. These presets can also allow users to gain experience in using more advanced trading functions, such as Tracking Take Profit or Trailing Stop.

A good trading tool platform should provide a simple interface that allows you to easily control the movements of all encrypted assets. From monitoring the performance of your entire portfolio across all trading platforms and wallets, to analyzing your bot performance and optimizing to market conditions, your choice of a platform like this can save you a lot of time and make it easier to grab trades Chance. All the analysis is presented in front of you, and you can see the situation of each trading platform account.

Automated robots are the main features provided by the trading platform to make your trading system easier to execute. The platform you choose should offer the following types of bots:

· DCA bots are flexible and can trade long or short strategies as well as contracts.

· Grid Robot is an ideal choice for sideways markets. When the token price oscillates between support and resistance levels, you need to activate Grid Robot.

· Options Bot can help you hedge if the market falls further, or you can sell your contract to someone else for a solid profit.

· HODL bot lets you take advantage of the current stage of accumulation to build a bet on a cryptocurrency with a history of strong rallies, such as BTC.

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To sum up, if you want to make money in the bear market, you can make good use of the cryptocurrency automatic trading tool platform. I recommend you to use 3Commas, they have been established for five years and have always been the industry's first-class Trading tools platform, they have excellent technical support and mature robots. There you can find tons of learning resources to help you on your way to becoming a professional trader.

As always, you should always remember to do your own research before starting a trade. There are various trading tool platforms on the market, the key is to find the one that suits you best.

For our readers, 3Commas is giving a 15% discount on monthly PRO subscriptions. Use promo code: a2vegPvl

You can also enter their Telegram community , Discuss cryptocurrency trading.