- 1 What is TradeSanta?
- 2 How does TradeSanta work?
- 3 Trading botsTrading bots
- 4 Grid and DCA
- 5 Extra Orders
- 6 Long And Short Strategies
- 7 Technical Indicators
- 8 Stop Loss
- 9 24/7 Support
- 10 How do I start with TradeSanta?
- 11 How to connect to a cryptocurrency exchange?
- 12 What Is Grid Trading?
- 13 How Grid Trading Bot Works
- 14 What Is Dollar-Cost Averaging?
- 15 How The DCA Bot Works (Long Strategy Example)
What is TradeSanta?
TradeSanta is a cloud-based software designed specifically to automate your cryptocurrency trading strategy and also to make trading accessible to anyone anywhere.
How does TradeSanta work?
Trading bot is first set up and ready to buy and sell cryptocurrencies of your choice, it will then open a deal either immediately or after a signal from technical indicators is received, depending on the filters setup.
Upon the first order, crypto bot buys the amount of base currency indicated in the settings by the user trader. If and when the initial order is executed and the deal is opened, the automated trading bot places the Take Profit order along with several extra orders automatically. The take profit order is the one that makes profit at the percentage level set by a user trader. Every time the price of cryptocurrency goes in the opposite direction than the strategy chosen, an extra order is executed and a new extra order is automatically placed by the bot. Every profit level is also reduced each time this happens on the trade. Extra orders serve to take advantage of the changing price and adapt the trading strategy according to the current market conditions.
Getting started is as easy as connecting to an exchange of your choice, Chose access and pair, Chose template and volume and manage risks
Trading botsTrading bots
The bots run with pre-set or customizable strategies for both long and short trading positions.
Manual orders can be placed on multiple exchanges from an all-in-one terminal window.
Download the app from apple or android marketplace to manage and track your trading bots anytime, anywhere. Run everything on the go 24/7.
Choose from numerous indicators like MACD, RSI, Bollinger, TradingView Signals, and more to open the trade at the right time.
The marketplace will be coming soon
Grid and DCA
You can choose the strategy that suits your trading style and the market right now and the bot will take care of the rest whether you opt for taking profit for each buy separately (Grid) or average the price for all orders Dollar Cost Average (DCA)
An extra order gives you the chance to make a profit even when market fluctuations do not support your initial strategy. In any case the price goes in the opposite direction to your expectations, the automated Trade Santa bot places extra orders to buy (or sell) more coins at the current price, making it possible to get desired take profit with a smaller price change in the future.
Long And Short Strategies
The TradeSanta makes it possible for you to launch automated trading bots with short and long strategies simultaneously. In whichever direction the price goes, TradeSanta cryptocurrency bots will cover it for you without your intervention.
The TradeSanta technical indicators serve to ensure the crypto trading bot will enter the market at the optimal and best point. TradeSanta users may either choose from RSI, MACD and Bollinger signals or use these 3 filters at the same time for dynamic trading.
You can manage your risks by setting up a Stop Loss to exit the position if the trade has gone against your strategy.
Trade Santa knows that starting to trade cryptocurrency sometimes may be a bit confusing. They are ready to answer your questions or solve your problems 24/7. Trade Santa can be contacted by email or via Telegram anytime.
How do I start with TradeSanta?
Starting the Trade Santa bot is easy to automate crypto trading with Santa cryptocurrency trading bot for Binance, Bittrex, Bitfinex, Upbit, Huobi and HitBTC. Firstly, you should set up an access point and then you configure bot parameters. You choose a desired trading pair, crypto bot strategy (long or short position), the take profit level and other settings are available. The setup Wizard guides you through the whole process and TradeSanta Bot templates will help you to dive into automated crypto trading smoothly and seamlessly.
How to connect to a cryptocurrency exchange?
- First and foremost, you have to create an access point.
- You can find the “Access points” section in your left menu, click on the “All accesses” suboption, to enter your access points list provided.
- Click on the “Add Access”, to create a new access point available.
- On the next page, you are required to choose the exchange and fill in an API key and an API secret key.
It works similar to the login and password system and made in a way the exchange could recognize your bot immediately. Only your applications could be attached to your account at a time.
What Is Grid Trading?
Grid bot is a crypto trading bot designed to help all traders execute the grid trading strategy automatically. Differing from most trading strategies, this grid trading strategy works best in a ranging sideways market pattern with no clear or defined direction. It profits from the highs and lows of a market’s price movement and is most effective when there is no discernible up or downtrend for an extended period. The greater the frequency and magnitude of price fluctuations, the more profitable the grid strategy. Simply put, grid trading strategies create a grid-like formation by always scheduling or setting up buy and sell orders in a predefined price range set. Firstly, you decide on a price range for the strategy, followed by the number of “grids” you want to include in the range. You can split your price range into multiple smaller ranges (grids) to increase the likelihood of triggering trades based on percentages.
How Grid Trading Bot Works
The more grids you create, the higher the trade frequency due to the reduced grid width size. But the profit earned on each order will decrease. Anytime a buy order is triggered, the grid trading bots place a new sell order (at take profit level). Additionally, what the TradeSanta bot does is if the price continues to go down after the buy order was executed, the bot will place another buy order and separate sell order for it automatically. All these extra orders work like safety orders. Even if the market goes against your expectations and takes sideways movement later, you will be able to continue trading and executing take-profit orders for those extra buys. The grid strategy involves selling a little when the price goes up and buying a little when the price goes down as long as the price stays within the set range according to your trading planned range.
What Is Dollar-Cost Averaging?
Dollar-cost averaging is an investing strategy that can help a trader to save money and reduce risk by lowering the amount you pay for investments. It allows traders to buy an asset in smaller amounts rather than buying all at once. We’ll cover the DCA bot for a “long strategy”, which first buys cryptocurrency and later sells it at a higher price. For the short trading bot strategy, the first order would be a sell order, and the TP order would be a buy order at a lower price. The dollar-cost averaging bot places the first buy order and extra orders if the price goes in the opposite direction of the strategy chosen. For all the buy orders it placed previously, it places only one take profit order at a time. Price of taking profit is recalculated with every new buy order so that the profit for all the orders placed would equal the TP parameter you set on the trade.
How The DCA Bot Works (Long Strategy Example)
- Trading bot places First Order (buy order) as a limit order.
- When the First Order is executed the bot places the Take profit (TP) order and Extra order at the price lower than the First order based on the percentage drop you set on the bot.
- When an Extra order is executed, the crypto bot takes the Take profit order of the first order off the exchange and places a new TP order (sell order for long strategy, buy order for short strategy) with the recalculated price based on the average buy price for 2 buy orders and Take profit percent you set. The bot also places another Extra Order below the First Order Price. If the second Extra Order is executed, that same cycle is repeated. No more than one buy and one sell orders are on the crypto exchange at a time.
Let’s go through the process of creating a DCA bot on TradeSanta.
- First, To start, you’ll need a previously set up access with the API Keys entered. Once that is done, go to DCA BOTS in the menu section on the left and click create bot.
- Then Select an access point, which decides on a pair you want to trade and strategy: whether you want to long or short a chosen coin. You always receive profit in the quote currency, displayed as the second currency of the trading pair.
- And once you select the pair, the trading view graph appears on the chart, and the data will help you decide on the bot’s settings desired.
- Take profit box indicates the percentage of a price increase at which the bot will sell the coins and close the trade executed.
- A step of extra order indicates the percentage of price fall at which bot will place another order to average the buying price based on market condition.
- The Max count of extra orders defines the maximum number of orders placed in one trading cycle at a given time.
- And when specifying your order size, pay close attention that the Order volume is larger than the minimum order size of your chosen exchange.
- The available next field specifies the number of successful deals completed after which the bot will be turned off completely. THen leave this field blank, and the bot will run continuously without intervention.
- Presion can be increased at the entry point by turning on Signals and technical indicators. TradeSanta provides opportunities to use signals based on Bollinger, MACD, RSI indicators. Preset TradingView Signals that are based on TradingView Screener, as well as custom TradingView signals (that you can connect from your TradingView account to bots on TradeSanta via webhooks) are also available for traders to use as deal entry signals.
- Martingale is a multiplier for each new order placed and is a high-risk option for inexperienced traders.
- Max order price is an optional field that sets a limit above which bots won’t start a new trading cycle. The stop-loss option may be enabled to close the position with a certain amount of loss reached.
- Calculator indicates if you have enough coins on your balance to execute a trade according to your settings and parameters. The bot name is generated for you automatically, so all that is left to do is save and turn on your DCA bot immediately.
- To start, you’ll need a previously set up access point with the API Keys entered. When that is done, go to grid bots in the menu section on the left and click the create bot button.
- Then Select an access point, which decides on a pair you want to trade, whether you want to long or short a chosen coin. You always receive profit in the quote currency, displayed as the second currency of the pair.
- The Max order price is an optional field that sets a limit above which bots won’t start a new trading cycle.
- Take profit value defines how much profit you will receive from each trade set. The Take profit is the percentage of price increase at which the bot will close the trade.
- Step of extra order is the percentage of price fall at which bot will place another order.
- Max count of extra orders will define the maximum number of orders that can be placed in one trading cycle at a given time.
- Before specifying your order, always keep in mind that order volume must be larger than the minimum order size of your exchange.
- You can also enable the stop-loss option to close the position with a certain amount of loss reached.
- The TradeSanta technical indicators serve to ensure the crypto trading bot will always enter the market at the optimal and best point. TradeSanta provides opportunities to use signals based on Bollinger, MACD, RSI indicators. Preset TradingView Signals that are based on TradingView Screener, as well as custom TradingView signals (that you can connect from your TradingView account to bots on TradeSanta via webhooks) are also available for traders to use as deal entry signals.
- The calculator indicates whether you have enough coins on your balance to execute a trade according to your settings.
- Enter a bot name and save your grid bot to start trading.
- Bot place First Order (buy order) as a limit order.
- After the first order is executed bot places Take profit order and Extra order based on the First order price execution.
- When the First Extra order takes place and is executed, the bot takes Take profit order of the first order off the exchange (yet saves all of its parameters to set it again when the time comes), places TP order (sell order) for the executed extra order and places second extra order two steps (specified Step of Extra Order) below First Order Price. When the second Extra Order is executed, the same cycle is repeated. No more than 1 buy and 1 sell orders are on the exchange simultaneously.
- The bot does not have deals as you are used to with current bots you use, it runs non-stop. If you stop the bot, all active orders on exchange will be cancelled as specified, the bot position (the number of extra orders executed, the amount of coins bought) is saved. When you turn it on again, all the previously cancelled orders will be placed again.When you turn it on again, all the previously cancelled orders will be placed again.