The SmartTrade trading terminal by 3Commas is a powerful tool designed to elevate your trading experience. With features like automated stop loss, take profit, and trailing strategies, SmartTrade helps you maximize profits while minimizing the need to monitor markets constantly.
This article explains the core functionalities of SmartTrade and provides a detailed guide on creating a Long Trade, complete with tips and features to optimize your trading experience.
What is SmartTrade?
SmartTrade is a versatile trading tool that allows you to:
Plan and automate trades with advanced strategies.
Set stop loss and multiple take profit targets simultaneously.
Utilize TradingView charts for detailed technical analysis.
Whether you're a beginner or an experienced trader, SmartTrade offers flexibility and efficiency beyond the capabilities of standard exchange trading terminals.
How to Access SmartTrade
Log in to 3Commas: Navigate to the SmartTrade section on the left-hand menu.
Choose Your Exchange and Market: Select your linked exchange (e.g., Binance, Kraken) and the trading pair you want to work with (e.g., BTC/USDT).
Creating a Smart Trade (Long Trade Example)
Step 1: Set Up Your Trade
Units: Specify the quantity of the asset (e.g., 0.1 BTC).
Buy Price: Choose between:
Market Order: Executes instantly at the current market price.
Limit Order: Places an order at a specified price level.
Trailing Buy: Automatically adjusts the buy price as the market moves, ensuring the best possible entry point.
Step 2: Configure Take Profit
SmartTrade allows you to set one or multiple take profit targets:
Click Set Take Profit.
Define the percentage increase (e.g., 5%, 10%) at which you want to sell portions of your holdings.
Use the volume slider to allocate funds between each target.
Optionally enable Trailing Take Profit, which adjusts your targets dynamically to capture additional gains as prices rise.
Step 3: Set Stop Loss
Protect your trades from significant losses:
Conditional Market Order: Executes instantly once the stop-loss price is reached.
Trailing Stop Loss: Follows the market upward, ensuring minimal losses while locking in potential gains.
Set a timeout to avoid premature triggers during volatile market conditions.
Step 4: Review and Create Trade
Click Create Trade.
Review your settings and confirm.
Once created, your SmartTrade will run automatically, executing the strategies you've configured.
Use Existing Assets and Advanced Features
For assets you already own, use the Use Existing Assets feature:
Plan optimal sell points with stop loss and take profit targets.
Use advanced trailing options to maximize returns.
Why Use SmartTrade?
Automation: Trade without constant monitoring.
Flexibility: Handle long and short trades with ease.
Efficiency: Simplify complex strategies into a single, automated process.
SmartTrade by 3Commas is a game-changer for traders looking to optimize their strategies and automate their workflows. Whether you're targeting bullish markets or managing existing holdings, the flexibility and power of SmartTrade can help you achieve your trading goals.
Ready to start? Log in to your 3Commas account, explore the SmartTrade terminal, and take your trading to the next level!