WHAT IS BEAST MODE?
First of all, please don't mix up with Hedge mode!
Beast Mode was created to enable traders with advanced strategies to be hindered by safety systems built into our service to protect all users. Therefore Beast Mode allows traders to disable these safety features.
Thus, this feature should be enabled only if you fully understand the risks of trading with Beast mode ON!
Beast Mode is an option that can be enabled on the Settings page when logged in to the web interface:
Whoa! Not so fast! While the name Beast Mode sounds super cool, it is extremely important to understand what it does before you enable it!
What does Beast Mode do?
Beast Mode enables you to open two or more deals (not positions) with the same Futures contract you wish to trade. These deals can be Bots, Grid Bots, Smart Trades, or a mixture of all the trading tools.
Beast Mode cannot open multiple Positions on the same instrument! But it allows opening several trades on the same instrument and pair!
What does this mean? In essence, Futures exchanges (like Bybit and Binance Futures) do not allow traders to create 2 separate Long positions on the same asset or chart!
Thus, Beast Mode cannot open two independent positions on the same asset.
As this is an Exchange limitation, we cannot do anything but abide by this.
But with Beast mode ON, you can open several trades with the same contract using different instruments.
Beast Mode will affect all trading on any connected Futures exchange(-s) you have linked! This fact also adds the risk to your trading!
Do you know what Beast Mode is useful for, then?
Imagine you are trading Futures with a Long bot, and your strategy opened a great position, and it was in a nice amount of profit. You might want to add to this position or take a partial profit from the open deal.
Or, maybe you want to create a reversal strategy that flips direction by placing a single order for twice the original position size.
Trade Idea: How to implement a Beast Mode "Flip"
With Beast Mode you don’t close positions; you’d flip them by opening a deal in the opposite direction with double the order size, so short-to-long and vice versa.
Create 2 bots, a Long bot and a Short bot for the Futures chart you wish to trade.
You’d create the first Long or Short bot with a $100 base order (for example) and start a deal.
Next, you create a bot for the opposite direction on the same chart with a base order size of $200.
You’d then edit the first bot that currently has a position open to increase the base order to $200.
When you want to "Flip" or reverse the trade direction, you will start a trade on the bot that currently has no open position, and once the trade begins, cancel the trade on the first bot.
Advantages of a Beast Mode "Flip" - positions can be opened and closed with a Limit Order, which may mean you pay no fees to open your positions.
Disadvantages of a "Flip" - if there are any errors with the trade, you may end up with a position open but no Bot deal or Smart Trade open to manage it, and it may be liquidated eventually.
It is crucial for you to frequently check the connected exchange account to ensure positions are opened and filled correctly when the bots try to "Flip" (you can be alerted to this if you enable Telegram bot notification settings).
Also, you will not have any accurate bot statistics and will have to account for account growth manually (possibly using the My Portfolio page and viewing the account balance for the exchange account your bots are trading on).
So in conclusion...
When the Beast Mode is enabled, it disables safety features such as "reduce only" orders.
When you use Beast Mode, the system cannot track the positions created from the trades, which is why reporting no longer functions accurately, and you have to manage your positions or strategy by controlling the bots tightly.
It is NOT RECOMMENDED to use Beast Mode unless you have a specific TradingView custom strategy you have designed and created that requires this option to be enabled in 3Commas.
With Beast Mode enabled, if a Long bot opens a trade for 1000 contracts and then a Short bot sells 800 contracts, you are still NET long on exchanging 200 contracts.
None of the deal or trade stats will reflect this in 3Commas. It can cause you to be liquidated unless you manage your positions using the exchange interface or have a strict strategy controlling the bots tracking the open positions created and when you "flip" long to short (for example).
Beast Mode disables several safety features built into 3Commas, particularly the "open position" check, which prevents more than one trade or deal starting for the same contract, and also disables "Reduce Only" orders.
If Beast Mode was not enabled on your account, then when the bot or SmartTrade needs to close the trade (to take profit or stop loss), it can use Reduce Only orders to ensure all of the position is closed.