Keiko Short – $24 / MONTH
Shorting on 3Commas is only possible if you already own the coin you want to short. If you are familiar with our Long bot you will know that some days there are 100 and even 200 trades. The short bots currently perform much more slowly and trades tend to take longer to close than longs, and unless you are trading many pairs, you may need to wait a long time for a signal.
How shorting on 3Commas works
Let us assume XRP is trading at $0.22 and you sell 100 XRP, this means you have sold your XRP and now have $22 (USDT) (there will be exchange fees). XRP drops by 10% and you then buy back your 100 XRP, but at the lower price of $0.198.
You now have 100 XRP, but you also have $2.20 (USDT) profit, or 11 XRP profit.
A more detailed description of Long & Short algorithms from 3Commas can be found here.
Shorting comes with its own risks, mainly that the coin could increase in value. So to use our example above:
XRP is trading at $0.22 and you sell 100 XRP, this means you have sold your XRP and now have $22 (USDT) (there will be exchange fees). XRP increases by 10%, so is now $0.242, so it will now cost $24.2 (USDT) to buy back your 100 XRP. It is possible to dollar cost average, but only if you own enough of the coin.
We do not recommend shorting with more than 10% of the owned coin, but obviously everyone has their own risk tolerance so no doubt some will trade with much more. For our example 1000 XRP would be a good amount of XRP to own if shorting using our bot and shorting using 100 XRP. You may also not own enough of a particular coin to be able to short because you do not meet the minimum trade size requirement placed by the exchange.
IMPORTANT: if you subscribe, DO NOT use the settings offered by 3C or CryptoLights.
Register on the Keiko site for correct settings.
For a list of traded pairs for each of our signals visit – www.keikoalert.com/trading-pairs
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