Trading is by no means a straightforward endeavor. It takes significant amounts of time and energy. Players new to the market will need to spend their days and nights studying charts, researching technical indicators, learning about the latest trading platforms, and carefully monitoring their chosen assets over time to discover useful patterns. In the early stages, the experience is as useful as profit.
For advanced traders, efficiency plays a more prominent role. Time management becomes a top priority and they look to make the most profit in the shortest possible time – without taking on any extra risk. Time is money, and traders spend much of their time glued to trading terminals in order to remain profitable. They also have families to take care of and a life to live, much like everyone else. And thus, we have the rise of trading automation to facilitate these human needs.
Today, we will take a look at Superorder – a cryptocurrency terminal designed to make trading easier through automation technology. The terminal has a number of tools that streamline automation and further facilitates order execution with some neat additional features. Sounds good? Let’s check it out.
In the context of cryptocurrency trading, automation means that machines will execute your trades based on specific criteria. A basic example would be where a cryptocurrency trading pair reaches a certain level and you get notified via email or phone alert. This is an example of a simple tracker algorithm.
But more sophisticated algorithms can execute these orders automatically once a trader specifies the appropriate conditions. This has opened the doors to “trading without trading”, though you will obviously have to tweak and monitor strategies periodically.
Most often, automated trading leads to increased efficiency. Humans have certain limitations – they need to sleep, cannot track a lot of moving variables, and take time to make decisions and place positions. They are also prone to basic errors and emotional trading, a very dangerous phenomenon. Despite the lack of creativity, automated systems make trading easier, and here comes Superorder terminal.
Superorder is an online platform that connects to cryptocurrency trading exchanges via application programming interface (API) keys. It assists in creating customized trading strategies and implementing them on autopilot. Right now, Superorder can connect to Binance, Bittrex, BitMEX, and CEX.IO with more to be added soon. Getting started with the platform is quite straightforward:
- Create a free account (take advantage of the free 3-day trial).
- At your exchange (Binance, Bittrex, BitMEX, CEX.IO), generate the API keys.
- Paste them into the Superorder platform and create your strategy.
Please Note: Superorder requests that traders disable the withdrawal option while generating API keys for security purposes.
Superorder is not like the other trading platforms out there – it really delivers something unique. The novel approach can be seen in its codeless approach to creating trading strategies. This makes trading easier for beginners who can be a little overwhelmed by complex trading terminals without a visual interface to see how all strategies link together. But it also has quite a lot of appeal for experienced traders who will also appreciate being able to create strategies with more ease.
The terminal is based on the idea of users generating their own customized strategies. Traders can simply log into the interface and combine all of their orders in a chain. The entire trading plan is automated and viewable in one place, instead of having fifty or so disparate orders that cannot be viewed on one dashboard. There are two primary order categories:
- Actions: Market Buy, Market Sell, Limit Buy, Limit Sell, Trailing Buy, Trailing Sell, Stop Buy, Stop Sell, Notify.
- Conditions: Wait For Rate, Rate Change, AND Fork, OR Fork, MACD Indicator, RSI Indicator.
A number of trading strategies/chains can be implemented at the same time. Everything in the basic code builder can be altered and several cryptocurrency pairs can be added to a single chain.
Superorder has other features to enhance efficiency. The Super Trade feature helps to build customized strategies and is useful when creating new plans. The way it works is that when a trader specifies the conditions, Superorder places a Market Buy or Limit Buy position. After this, it will place an OR boolean operator (called a Fork, within the trading terminal) to put maximum and minimum thresholds for taking profit and minimizing loss. This is an automated risk management. The terminal will further outline the estimated profit/loss of the executed trading strategy.
The most prominent example of automation is the cryptocurrency trading bot. The bot is really an entire automation ecosystem in itself, with a historical track record of profits and losses. Traders rent these bots out, and each bot has a particular trading strategy that has been rigorously tested and implemented by the development team. Currently, there are four Superorder crypto bots based on the BTC/USD pair and two for other pairs:
- Milky Scalper: BTC/USD, 5-min time frame, x25 leverage, 0.01BTC a month.
- Cherry Bot: BTC/USD, 4-hour timeframe, x5 leverage, 0.015BTC a month.
- Happy Hammer: BTC/USD, 4-hour timeframe, x5 leverage, 0.009BTC a month.
- Susy the Baller: BTC/USD, 5-min time frame, x5 leverage. 0.016BTC a month.
- Ethos: ETH/USD, 1-hour time frame, x5 leverage, 0.01BTC a month.
- Mr. Ripple: BTC/XRP, 1-hour time frame, x3 leverage, 0.01BTC a month.
Traders need to do their research to see if it is worth it for them, taking into account the price for each bot. It is also worth noting that these bots only work with the BitMEX exchange. While Superorder is at the forefront of cryptocurrency trading automation, the use of these bots is limited right now and needs to be expanded.
Aside from the core features, Superorder comes with a number of niche tools that many users can appreciate. Here are just some of them:
- Multiple orders – you can place trailings and hidden orders.
- Boolean operators – you can use AND/OR forks to specify conditions more easily.
- Sandbox – traders can test out their strategies in the demo environment before risking any real money.
- Portfolio tracking – no external applications are needed to track portfolios. Users can simply observe their balance within the terminal.
- Resend requests – Superorder keeps resending orders to ensure they get executed, unlike many other exchanges with unfulfilled orders.
- Trading charts – several charts can be viewed simultaneously in the integrated dashboard.
The end result of all of these features is a trading terminal that has distinct benefits both for the complete newbie and the experienced trader. Even experienced traders want simplicity, not complexity. There is no added advantage of having too many irrelevant charts and graphs on a trading terminal. Superorder has a better strategy builder and visual interface which will preserve much cognitive capital. Because it handles these technological functions, traders will be free to work on more creative aspects of their strategy – not to mention having more time in general.
There is much promise for the Superorder trading platform. Yet as wonderful as it looks and sounds, there is still a lot of room for improvement and heavy work remains to be done. The fact that only 4 exchanges are supported – Binance, Bittrex, Bitmex, and CEX.IO – means that many people will be unable to work with the terminal. The cryptocurrency bots are a useful innovation, but the industry of crypto bots is still very new and largely untested. In the future, we would expect to see a larger variety of trading bots, as well as many more interoperable exchanges.
If you want to investigate further, then look into the official platform to get a 3-day free trial and check out the detailed beginner’s page.