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TradeSanta Review-Automated Crypto Trading Made Simple

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The Crypto market is going stronger than ever, attracting thousands of new traders a day. Due to the high market volatility, cryptocurrency trading may seem overwhelming sometimes, especially for beginners. One solution is automated trading strategies that remove an emotional component from trading decisions. Today we will dive deep into one of the most popular automated trading platforms in the market. TradeSanta.

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TradeSanta is an automated trading platform providing tools to execute different trading strategies without constant monitoring of the market. TardeSanta has been live since 2018 and is beloved by thousands of traders worldwide thanks to its friendly user interface and vast customization opportunities.

TradeSanta is available across the most popular exchanges. Users can connect Binance, HitBTC, Huobi, and other prominent trading platforms.

TradeSanta’s Tools

Technical Indicators– traders can use signals from Bollinger Bands, MACD, or RSI to launch the bot.

Stop Loss and Trailing Stop Loss– limit the risks by cutting the losses with these advanced tools.

Trailing Take Profit – take the most of the rising market by closing the deal at the price peak.

Trading terminal – trade on multiple exchanges in just one friendly user interface. It is highly recommended for traders with numerous exchange accounts.  

Martingale – Increases the size of each consequent order to reduce Take Profit price.

2FA – protect your account with 2 Factor Authentication.

Templates – Create the bot from preset templates available for all types of bots (Long and short Grid, Long and Short DCA).

Futures (alpha) – set up trading bots with leverage on top of Binance Futures Platform.

Underlying Trading Strategy

 TradeSanta automated bots have a cost averaging mechanism in its heart. All a new user has to do is to connect and exchange, choose a pair, and the bot will place buy or sell orders first and then order to take profit next. If the market goes in a contrary direction than the user predicted, the bot will place more orders to reach the take profit price sooner. This strategy can be executed in two different ways. 

Dollar-Cost-Averaging Strategy (DCA)

The bot set up to trade with DCA strategy will place the first buy order first and more extra (buy) orders if the price goes contrary to the expected trend. For all the executed orders, the bot places just one Take Profit order for all the sums of the coins purchased by the bot. With each new buy order placed, take profit price and order volume is recalculated to receive the desired profit for all the sum of acquired coins.

Grid Strategy

The Grid bot places the first buy order similar to DCA. It will also place more orders in case the price goes in an unfavorable direction. The main difference is in the way Grid takes the profit. Contrary to DCA bots, a Grid bot will place Sell orders for each buy order separately with the specified take profit. 

Let’s say you set up Grid and DCA bots simultaneously for the same pair betting on the rising price. Both bots placed the same first order. However, the price went down afterward. Both DCA and Grid bots placed more buy orders to average the price. The difference is that the Grid bot has two buy orders and 2 Take profit orders placed, whereas the DCA bot has two buy orders and one sell order placed. DCA sell order is equal to the volume of 2 previous purchases, and the price has lowered down. 

Both strategies can be set up if the coins price rises (long strategy) or falls (short strategy).

Long and Short strategies explained.

Mobile App

TradeSanta is also available right in your pocket. It offers iOS and Android apps to manage bots on the go. 

The mobile app offers the same ample functionality as the full-blown version: profit tracking and analytics, balance, managing and creating new bots with advanced features such as Martingale, Stoll Loss, technical indicators, and others. 

Plans

Plans Features TradeSanta
Basic 49 bots From $14 per month
Advanced 99 bots

MACD and RSI signals

Trailing Take Profit

From $20 per month
Maximum Unlimited number of bots

MACD and RSI signals

Trailing Take Profit

Futures trading (coming soon)

From $30 month

 

Start Free Trial

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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