What is chart trading?

Chart trading is a set of features that allow traders to enter the trades at support levels to see placed orders and trade on the top 15 cryptocurrency exchanges, including Binance and KuCoin. This feature is also well suited for those traders who use technical analysis as the Cryptorobotics trading platform allows its users to analyze the crypto market using bars, Japanese candlesticks, and other types of technical analysis.

Types of orders in the Cryptorobotics terminal

Limit Order

A limit order is an order to buy or sell a cryptocurrency that is immediately executed at the market price.

Stop-limit Order

A stop-limit order is a pending order to buy or sell a digital asset until the coin value is reached as specified by the trader in the settings. This order does not reserve the amount of the trader’s digital coins until it is executed.

Market Order

A market order is a trading order that is designed to buy or sell digital coins at the best cost currently available. If a trader wants to buy cryptocurrency at the best available price, placing a market order is the best solution.

Stop Loss, Take Profit, Trailing

And also place OCOs, or smart orders such as Stop Loss, Take Profit, and Trailing for open orders, which help traders minimize risks and increase profits.
The system helps to avoid mistakes when placing orders since chart trading has a certain logic depending on whether the trader opens long or short positions. The system has additional checks that do not allow you to set an incorrect Stop Loss and Take Profit. When traders open long positions, Take Profit is set above the buy price, and Stop Loss is below the buy price, but if traders open short positions, Take Profit is set below the buy price, and Stop Loss is above.

Orders can be configured on the chart itself using a widget or from the drop-down menu in the settings panel.

Also, the chart displays not only open trades but also closed ones in the form of letters B (bought) and S (sold).

Advantages of Chart Trading

• Risk management
• The ability to open trades both directly on the chart and in the settings panel
• Trading on top crypto exchanges
• Access to various types of technical analysis
• The opportunity to use chart trading on all devices

How to start chart trading?

• Register on the Cryptorobotics trading platform
• Choose a crypto exchange and cryptocurrency
• Set up a buy or sell order (limit, stop-limit, or market order)
• Place Stop Loss, Take Profit, and set up Trailing if it is necessary
• Start chart trading