How to work with the 3commas trading terminal?

Cryptocurrency trading is a very multifaceted activity with a whole encyclopedia of terms, strategies and other concepts. If you are a beginner, we recommend starting from the very basics – studying the interface of our trading terminal. This is a new section in each user’s personal account, which will help to understand the basics of trading in practice. And our today’s guide on the features of the interface of the 3commas trading terminal will help you with this..

Features of the interface

Let’s mark the main elements of the trading terminal interface in the screenshot below:

  1. Menu for selecting an account, trading pair, switching between Basic / Pro terminal modes and resetting the placement of interface elements;
  2. Menu for placing orders;
  3. Order book (also called the order book) with the depth of orders;
  4. The chart of the traded asset with Tradingview instruments;
  5. Menu for account portfolio, open orders and trading history.

Below we will take a closer look at each of these points. For now, let’s move on to setting up the interface. The 3commas trading terminal has a default placement of the aforementioned interface elements, however, you can customize them. When you hover the cursor over the menu for placing orders, order book, chart or transaction history, buttons are displayed in the upper and lower corners to move or stretch the window.

Click on the first button and drag the menu as you like:

For example, you can change the order book and the order placement menu in places:

Or even move the order book down, freeing up more space for the asset chart:

In the upper right menu there is a Reset Layout button, clicking on which you will return to the default interface.

To the right of it there is a button for disabling individual interface elements: the menu for placing orders, order book, chart or transaction history. Here you can also click the Make a suggestion button to suggest your additions to the trading terminal. As a reminder, it is still in beta testing. The Basic / Pro switch removes additional options from the order placement menu and order book.

Now let’s move on to consider each interface element in more detail, and also consider examples of making trade transactions using the terminal.

Window for placing orders

In this block, the user sets the parameters of his order (orders to buy or sell a coin), which is placed on the exchange. When it matches an opposite order with the same price, a trade is executed. Let’s take a look at the menu for placing orders in Basic mode. In the screenshot below, the main blocks are highlighted:

  1. The name of the trading pair and the amount of funds available for trading in this case. When you hover over the question mark on the right, there is also information about the amount of funds involved in orders;
  2. Order type (market / limit). The first is executed at the best available price from the order book, the second is placed in the order book and executed at a predetermined price;
  3. Stop Loss button. With its help, you can immediately place a stop loss – an order that will close your deal at the Trigger price if the asset price went in the wrong direction;
  4. Units and Total fields. Order size in cryptocurrencies from a trading pair (the screenshot shows the BTC / USDT pair, so bitcoins are indicated in the Units field, and USDT in the Total field);
  5. Buy (buy an asset) and Sell (sell an asset) buttons.

When switching to a limit order, you also need to set the order execution price in the field as in the screenshot below.

In Pro mode, new options are added to the order menu in addition to the above:

  1. The Conditional switch allows you to set more parameters for both market and limit orders. In the first case, you can set the Trigger Price level – after the price of the asset reaches it, the market order is automatically placed for execution;
  2. Order size buttons. With their help, you can quickly set the order size (25%, 50%, 75% or 100% of the available funds);
  3. Trailing option, as a percentage of the price change or at the price itself. We’ll talk more about this below;
  4. Timeout option (set in seconds). Timeout indicates a delay before order execution.

A similar menu, but for a limit order. There is no Trailing option, but under the already familiar Timeout button, you can select the order type (so far there is only one Good-Till-Canceled option). According to its terms, the order will hang in the order book until the trader himself cancels it..

Moving on to the next item.

Exchange glass

The order book (order book, order book, market depth) is a list of current traders’ orders (orders) to buy (bid) and sell (ask) an asset. On different exchanges, the order book is often displayed in different ways, but in our trading terminal it is presented in the form of a constantly changing table showing the market depth.

Let’s take a closer look at the elements of the order book:

  1. Managing the lists of displayed orders: the first button – shows both sell and buy orders, the second – only buy orders (green), the third – only sell orders (red);
  2. List of sell orders. The offers are arranged in ascending order of price from bottom to top. The most profitable for the buyer are at the bottom of the list. Each line consists of the market price of the order execution, the order size in one and the second cryptocurrency (in this case, the second column displays the order size in USDT, in the third – in bitcoins);
  3. List of buy orders. Formed in a similar way, here the best price for the seller is at the top of the list.

The “depth” of the market is displayed in red and green in the lines – comparative sizes of buy / sell orders.

Trading chart

Trading terminal 3commas displays the chart of the selected trading pair from the Tradingview platform. By itself, it has a huge number of options for customizing the graph, saving, editing and drawing. We’ll look at the most important ones in order. We will stretch the schedule for more convenient work with it.

So, the following options can be highlighted in the top chart menu:

  1. Timeframe. A value that defines the time interval for each candle on the chart. For example, if you set the timeframe to 1H, each candlestick will be equal to the price change for 1 hour;
  2. Price display mode. Bars, Japanese candlesticks, blank candles, Heiken Ashi, line, area or baseline. By default, the chart is displayed in Japanese candlesticks;
  3. Menu for adding indicators to the chart;
  4. User cancellation buttons;
  5. Saving graphics in the cloud;
  6. Graph display settings;
  7. Full screen mode;
  8. Screenshot.
  9. The lower scale shows the time (9), the scale on the right shows the price (10).

In the side menu on the left you can find tools for drawing on the chart, rulers for price / time frames, plotting patterns, and so on. Button (1) can be used to erase all drawn objects on the chart. Button (2) shows a tree of objects on the chart.

When you hover over each of the candles at the top of the chart, you can see the open, close, highs and lows for the selected time interval.

History of transactions

Account portfolio, open orders and your deals are combined in one menu. You can switch between them (1) using the tabs at the top. The account portfolio menu displays the coins in your account (2), their number (3), the change in value over the last 24 hours (4) and the market price (5).

The open orders menu shows all the orders you have submitted at the moment. For example, let’s open a limit order:

  1. Trading pair;
  2. Party (buy or sell);
  3. Order size and progress of its execution in percent (Filled);
  4. Order type;
  5. Order execution price;
  6. The price after which the order will be executed;
  7. Timeout option in seconds;
  8. Date of placing the order;
  9. Cancel, immediate execution or order update buttons.

The list of orders can be updated by clicking the green button at the bottom of the menu. On the right there are pages of the list of orders with the setting of displaying a certain number of orders on one page (in this case, 25 or fewer orders will be displayed on each page).

On the last tab, you can see the history of your transactions.

Place your first order!

It’s time to move from theory to practice! If you are just learning how to work with a trading terminal, we strongly recommend switching to Paper Account in the top menu of the terminal. You can replenish the amount of virtual funds in your account settings.

First, let’s place a market order in Basic mode. Select the desired number of Units and click Buy.

The order is executed, you can see it in the history of transactions.

Note that for relatively large market orders in a trading pair, liquidity is needed. For example, if the cheapest available limit sell order from the order book does not fit the entire market buy order, your order will be filled automatically on the next limit sell orders, going all the way up the order book until it is closed. This is called slippage. That is, a market order sometimes fails to close exactly at the desired price. Such orders should be placed when the urgency of its execution is much more important to you than the price..

In Pro mode, the market order is already more interesting. After enabling the Conditional option, Trailing and Timeout come into play. The first option allows you to open an order at a better price in percent or the cost itself if the market price of the asset crosses the Trigger price mark. For example, you set Trailing to 15% for a market buy order. The asset price drops by 7%, crossing your Trigger price. The order is ready to be placed and as soon as the price comes closer than 15% to the target level, the order will be placed. The Timeout option in this case will indicate the interval in seconds, during which all of the above will not be executed.

In addition, the Trigger price is displayed as a line on the chart for greater clarity..

Another example is a limit order in Basic mode. Everything here is as simple as possible: set the desired order execution price, size and, it is highly desirable, Stop Loss.

When you toggle this button, you will be redirected to a market order. That is, first you place a limit order, and Stop Loss is executed as a market order with a Trigger Price. As soon as the asset price crosses this line, the stop loss order will be executed. These are the two orders on the chart:

The last example is a limit order in Pro mode. In this case, we can specify the Trigger price, after crossing which your order with the specified Order price will be placed in the order book.

The results of our manipulations in the history of transactions:

We recommend that you practice on our trading terminal in Paper Account mode before trading with real funds here or on the stock exchange. As a reminder, the 3commas trading terminal is still under development and will soon be updated with new functions..

Mike Owergreen Administrator
Sorry! The Author has not filled his profile.
follow me
Like this post? Please share to your friends: