The Advantages of Using Trading Bots Such as 3Commas
As an on-chain and social cryptocurrency data platform, Santiment believes that our data and indicators can be an excellent complement to the capabilities of high-level cryptocurrency trading bots. Bots have been around for a long time, and several experts have theorized that bot trading is responsible for approximately 90% of overall volume (and possibly even more) in 2023. We have recently been working with 3Commas to produce strategies that can be effective in trading assets that are showing both bullish or bearish signals, dependent on your risk tolerance and assumptions about the markets.
As a trading bot, 3Commas never sleeps and can be trained to automatically perform certain actions when certain conditions are met. Obviously, one of the most tedious parts of crypto trading is the fact that you must be present and paying attention to charts and price fluctuations that are moving 24/7. These bots solve this problem by opening the ability to make money for traders even when you aren't actively monitoring your portfolio.
With Santiment's data and indicators, traders can further enhance the performance of their 3Commas bots. By providing real-time insights into market conditions, sentiment, and other key metrics, Santiment data can help traders identify profitable trading opportunities and make more informed decisions. It isn't always ideal to just run your bot on Ethereum only when Dogecoin is making a big run. Or alternatively, it isn't optimal to be running your bot on one of the highest variance assets (like Hex) when Bitcoin's price dominance is growing by the day despite less volatility and trigger points for a bot to take advantage of.
Santiment's own data screener can be extremely advantageous to pair with the bevvy of options available to you through bot trading. Do you want to ride a more risky coin that Santiment is showing a great deal of FOMO social data on? You could do so, with the understanding that you'll at least be able to take advantage of major volatility that 3Commas bots thrive with. Or alternatively, do you always want to run your bots with the assets that are seeing the highest address activity and token circulation at any given time? Santiment's on-chain indicators can work well to make your bot decisions easy.
Furthermore, 3Commas has built a solid reputation as one of the best cryptocurrency trading bot platforms in the world, offering four key types of bots that cater to different trading strategies - DCA, HODL, Smart, and Grid. This means that traders have a range of options to choose from when selecting a bot that best suits their specific needs.
With Santiment's data and indicators, traders can fine-tune their bot strategies and make more accurate predictions about the market, leading to increased profits and minimized risks.
One of the blind spots for trading bots is that you may be able to pick an asset and watch a reliable bot profitably auto-trade for you. But this doesn't mean that you're using the right trading pair. With the assistance of Santiment's data, you can actually identify the assets that make the most sense to ride up (or down) at any given time. After all, even if a bot built by 3Commas is successful at buying low and selling high for you, it can only be great if the asset you've chosen will eventually make a big run in the direction you're hoping it goes in.
The 3Commas platform also allows traders to utilize the SmartTrade Terminal, which provides a powerful interface for trading on multiple crypto exchanges. The integration of TradingView indicators in the SmartTrade Terminal gives traders both high-level and granular control over their manual trading activities in their connected exchange accounts. By incorporating Santiment's data and indicators into the SmartTrade Terminal, traders can develop more sophisticated trading strategies and make data-driven decisions.
The 3Commas bot preset marketplace also allows traders to browse and copy long and short strategies that have been fine-tuned by some of the most advanced traders in the market. By combining these preset strategies with Sanbase and SanAPI metrics and tools, traders can develop highly effective trading strategies that take into account market trends and sentiment.
Finally, 3Commas plugs into all the major crypto exchanges and allows traders to create portfolios, rebalance them, and see their combined overall balances and returns across all connected exchange and wallet accounts. With Santiment, traders can gain a deeper understanding of the market and make more informed decisions when managing their portfolios.
In conclusion, by combining 3Commas' powerful bot trading platform with Santiment's real-time data and indicators, traders can develop highly effective trading strategies and take advantage of profitable trading opportunities. Together, the world's most comprehensive data platform and most comprehensive trading bot platform can offer traders a comprehensive suite of tools for efficient, effective trading at scale.
We've been honored to receive a coupon code for our entire community to use. When signing up for a 1-month PRO plan on their platform, you will receive 25% off of your first month of using them by entering code Santiment23 at checkout. Cheers, and happy trading!
Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.
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