A cloud-based crypto trading software provider has announced it is launching a manual trading terminal — enabling users to place orders on its interface as if they were using their usual exchange.
TradeSanta says its latest product launch is particularly useful for crypto users who use multiple exchanges and rely on automated trading bots regularly. It is hoped that this feature will cut a step in the process and enable positions to be entered into more quickly, as traders will no longer have to visit their chosen exchange first.
According to the company, this option ties in nicely with other features such as Smart Order, which paves the way for large amounts of crypto to be bought and sold without triggering dramatic fluctuations in the price of the asset in question.
Making trading simpler
TradeSanta says it is positioning itself as a service that enables traders to enjoy exposure to the market 24 hours a day, seven days a week — without the need to make trading a “full-time job” where they are never away from their screens.
Six major exchanges — including Binance and Huobi — can be connected to the TradeSanta platform in a matter of minutes. Support for new platforms is constantly being added, and in-depth blog posts provide step-by-step instructions that explain how exchange accounts can be added to a user’s profile.
More insights from TradeSanta here
Users have the freedom to either use existing templates for trading bots or to devise their own tailor-made strategy from scratch. As well as the ability to transact large volumes without sending shockwaves through the market, users can take advantage of bull and bear markets by relying on long and short strategies — something that will undoubtedly prove useful given the record levels of volatility that have been roiling the crypto markets of late.
To protect gains, TradeSanta users can also establish take-profit targets that ensure deals are closed at an optimal moment. Bots can be configured to automatically sell a position at the desired level — eliminating the need for users to constantly monitor ups and downs in the marketplace. The company says that easy access to information is nothing short of vital, and that’s why a bot’s progress can be monitored from anywhere with an internet connection — with Telegram notifications sent directly to the user’s phone whenever a bot is in action.
The technical indicators on offer
A series of technical indicators are also on offer, helping users to configure their bot and time their entry into the market for maximum impact. Moving Average Convergence/Divergence (otherwise known as MACD, for short) allows users to follow momentum, detect strong trends and gauge whether price reversals should be anticipated. Meanwhile, a Relative Strength Index can be used to ascertain the magnitude of an asset’s recent price movements. Last but not least, TradeSanta bots can scour the market for an optimal entry point based on Bollinger bands for trading pairs — assessing the past 90 minutes in five-minute intervals.
At the time of writing, TradeSanta says it has more than 28,000 active users — and more than 9,200 trading bots are currently in action. Overall, it is estimated that over 3 million deals have been successfully completed since the service launched.
Learn more about TradeSanta
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.