Financial markets allow anyone to earn money. There are different tools and methods for this. A popular trend is trading, and scalping is one of its types. Computer technology allows you to simplify or fully automate this process with the help of software. At the moment, many programs for scalping cryptocurrencies have been created. Some of them are free, and for others you will have to pay. The best terminals and trading bots are presented in this article.
The concept of scalping
Cryptocurrency markets have a high level of volatility. Quotes of digital coins and tokens are constantly changing. Scalping is a type of trading in which the trader concludes short-term transactions. They are usually closed within a few minutes and sometimes even seconds.
A trader is able to make up to several hundred deals during a session. Each of them brings a small profit, but this is compensated by a large number of closed orders. Scalping on the cryptocurrency exchange allows you to trade in conditions of sideways movement of the value of the asset. One successful trading session can significantly increase the deposit.
The following conditions are necessary for the successful application of the scalping strategy:
- Low commission on trading transactions. Before closing a position, it is necessary to make sure that the profit exceeds the fee charged by the exchange.
- Liquidity of the crypto asset. The coin or token should have a high trading volume.
- Speed of order execution. A scalper needs to close a position quickly. Therefore, the exchange must have a high throughput.
- Understanding technical analysis. This is a method of researching the current state of the asset, based on which you can predict the future movement of the rate. It is used by scalpers as the main tool.
Trading on the cryptocurrency exchange is associated with the risks of losing money. Before making a deposit, it is recommended to practice on a demo account.
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Reviews of the best programs for scalping
Auxiliary analytical tools increase the efficiency of trading. They are designed for a more accurate assessment of the market situation, and trading bots allow you to automate the process of concluding transactions. The best crypto scalping programs for December 2021:
- CScalp
- Haasbot
- Cryptoscalp
- 3commas
- ATAS.
CScalp
The cryptocurrency market has its own nuances of behavior. The team of developers gained recognition from traders thanks to the terminal “Bondar’s Drive”. It was created for scalping on the stock and currency markets.
CScalp is a free trading terminal specially designed for trading on cryptocurrencies. Its creators emphasized on exchange stacks (a queue of orders to buy and sell an asset). The main functions of the CScalp terminal:
- Working with different exchanges. It connects to Binance, FTX, Bybit, BitMEX, Bitfinex and EXMO.
- Cluster Analysis. The feature gives insight into who is dominating the market – sellers or buyers.
- A trader is able to trade from several accounts at the same time.
- Own proxy servers. Sometimes the hardware of the exchange is far away from the client. In this case you can use CScalp servers located in Tokyo and Khabarovsk. This will reduce delays in order execution.
The team of terminal developers has prepared training courses on its YouTube channel. This will allow beginner traders to master scalping faster.
Haasbot
The program became available for use in 2014. It includes trading bots for trading different strategies. It is possible to write your own algorithm using HaasScript and C# programming languages.
The application is paid, but new users are given test access for 14 days.
Haasbot features:
- Works with 24 exchanges (Binance, Poloniex, Bitfinex, BitMEX and others).
- Fiat accounts are available (USD, EUR, GBP).
- Does not charge commission for transactions.
- English-speaking interface.
- High subscription cost (changes frequently).
- Testing of trading bots on a demo account.
Trading bots should be used with extreme caution. Incorrect settings can lead to a complete loss of your deposit.
TigerTrade
This is a trading and analytical terminal for scalping cryptocurrencies. For traders in the market of digital assets, access to the program is free. It connects to 7 different exchanges, including Binance, Bitfinex and FTX. The paid version of the product is designed to work with stock and currency markets.
TigerTrade offers users a choice of charts: classic candlestick and customizable footprint (shows the size of the traded volume). In its arsenal, the terminal contains many indicators of technical analysis, including its own developments. All this allows you to effectively predict the movement of the asset rate.
Among the features of TigerTrade is a risk manager. Its task is to protect the scalper from a losing deal by timely imposing a ban on trading. It can be customized at the user’s discretion and set a password to change the configuration.
The terminal also provides an opportunity to copy Expert Advisor trades. The process is performed automatically in real time. The function allows the trader not to trade on the market himself. The system will buy and sell assets following the expert.
3commas
A program for scalping cryptocurrencies that offers clients trade automation services. It can be used for free, but the trader will have access to a minimum of functions. For money, one of the 3 subscriptions presented to scalpers is purchased. 18 exchanges (Binance, Coinbase, FTX and others) are available to connect the terminal.
Smart Trade – a set of tools and indicators offered by the terminal. The Paper Trading function allows traders to test trading strategies without the risk of losing money. Trailing technology simultaneously moves Take Profit and Stop Loss values when the asset rate grows. There is also a function of viewing charts from TradingView service.
3commas offers users bots for automatic conclusion of trading deals. Ready-made algorithms from the project or other traders are available. If necessary, a scalper can customize the bot for his personal trading strategies.
ATAS
Advanced Trading Analytical Software is a trading platform for scalping on the cryptocurrency exchange. The ATAS developers themselves claim to be experienced traders with 3 to 17 years of experience. The terminal is distributed on a paid basis, but with demo access for 2 weeks. Subscription for a month will cost the user €69, and buying the program permanently costs €1790.
The development team positions the product as a trading and analytical software for scalping. Ordersare placed at the touch of a button through the orderstack. A special set of filters is able to select large traders from the array of common transactions. This information will help the scalper to trade in the same direction with them.
Smart DOM technology will allow the trader to analyze the actions of high-frequency algorithms that quickly place and remove orders. The terminal user does not detect such a shenanigan and thinks that a large order is placed at a certain level.
Other useful programs for cryptocurrency
In addition to terminals and trading bots, there are many other interesting applications for the trader. The table below presents a list of useful programs for working with the cryptocurrency market.
| Name and purpose | Brief description |
|---|---|
| Delta mobile cryptocurrency tracker | An application for Android and iOS gadgets designed to track the rates of digital assets. It features more than 7000 cryptocurrencies. It is possible to connect to wallets on exchanges to keep track of transactions. Customizable notifications allow you to learn about reaching certain price levels in time. |
| Mammon Cryptocurrency Tracker | A program that allows you to follow the quotes of digital assets through your personal computer. The platform is available on Windows and MacOS operating systems. The notification function will give you the opportunity to monitor the current rates on the exposed price levels. In the base of Mammon more than 700 cryptocurrencies and 30 types of fiat money. |
| Trust Wallet | A mobile application for safe storage of digital currency. The wallet does not collect user data and is fully decentralized. It allows you to store more than 160 thousand different coins and tokens. Trust Wallet is one of the most secure wallets on the market. With its help, you can buy cryptocurrency with a card for fiat money. |
| Crypto News aggregator | A mobile application that allows you to follow the current events on the cryptocurrency market. The program takes data from more than 250 sources. All articles are strictly moderated by the editor-in-chief. Customizing the newsfeed will allow the Crypto News app to tailor content to your interests. |
Frequently Asked Questions
❓ What is the best cryptocurrency to choose for scalping?
Due to its lower volatility, bitcoin is suitable for a novice trader. You should move to alternative coins with experience.
💰 How much should I start scalping with?
The advantage of high-frequency trading is the fast acceleration of your deposit (in case of successful trading). $100 is enough as a starting amount.
🔎 Which exchange to start trading on?
Binance is one of the best cryptocurrency platforms. The main thing when choosing an exchange is its convenience and favorable trading conditions.
📜 How to learn trading from scratch?
There are many free courses and videos on trading on the exchange on the Internet. After learning the theory, you should move on to practice on a demo account.
📝 How does trading differ from investing?
The main difference is the time spent and the level of risk. Investors wait years to sell an asset and stick to a relatively small probability of loss.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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