Superorder Review: Crypto Trading Terminal with Automation
Superorder is a next-generation trading platform that works with some of the biggest crypto exchanges on the planet. The platform offers crypto traders badly needed tools, and some interesting new ideas for trading cryptos. Crypto trading has caught on in a big way, but many of the exchanges simply […]
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Superorder is a next-generation trading platform that works with some of the biggest crypto exchanges on the planet. The platform offers crypto traders badly needed tools, and some interesting new ideas for trading cryptos.
Crypto trading has caught on in a big way, but many of the exchanges simply don’t offer some of the most basic trading features that almost every other trading platform in the established financial community includes.
It might seem like the features that a trading platform offers aren’t that important, but they can make or break a trade. Features like trailing stops and limit orders are commonplace in the established financial world, but in the world of crypto trading, they can be hard to find.
Superorder has created a trading platform that can easily interface with numerous crypto exchanges, and make trading on them a lot easier. It also allows its users to create automated trading algorithms with ease.
There is no doubt about it, Superorder has created a trading platform that fills in the gaps for cryptocurrency traders. At the moment Superorder works with Binance and Bittrex, and the team at Superorder is working on adding support for other major crypto exchanges.
The world of cryptocurrency is decentralized, which was a big selling point to the first generation of crypto adopters. Many people liked the fact that there is no counterparty who ensures the stability of the cryptocurrency system (like central banks in the established financial system), but the lack of centralization isn’t ideal for traders.
Major crypto exchanges do trade with each other, but those connections aren’t as solid as the ones that exist in the global stock markets. Traders will get different amounts of liquidity based on the exchange they use, which can be problematic for larger orders, or when markets move quickly.
Superorder address this challenge, and also built a slew of useful (some would argue necessary) features into its platform.
Superorder added features that every trader can use to its platform. Additionally, the platform offers traders increased functionality with options like longer chart periods and portfolio tracking. Here are some of the useful tools that Superorder offers its clients.
Trading with simple buy and sell orders might be ok for hobbyist traders, but advanced traders need access to better order types. Superorder added limit orders, like take profit and stop loss to its range of trading tools.
If you want to be able to walk away from your trading terminal, and not worry about coming back to see your account at levels you thought to be impossible, stop-loss orders are necessary. The same thing goes for take profit orders, which is why they are built into almost every trading platform in the established financial system.
Superorder also includes trailing stop loss orders, which are extremely useful for trend following trading strategies. Once a trade goes your way, and you add to your position, it can be a lot of work.
A trader has to constantly update their stop loss levels so that a major swing won’t wipe out accumulated profits. That means sitting at a terminal and moving the stop-loss orders up manually. Trailing stop losses make this a lot easier by automating the process.
Superorder created a tool that allows traders to easily automate their trading with no coding whatsoever. By using a simple, visual interface, traders can combine numerous functions in any way that is logically possible.
The automation tool can use the following commands:
- Market Buy
- Market Sell
- Stop Loss
- Wait for Rate
- Rate Change
- Limit Buy
- Limit Sell
- Sell Trailing Stop
- Buy Trailing Stop
Let’s say you want to automate a common trading technique that has been making you money. Instead of having to code it into your trading terminal, it is easy to lay it out using Superorder’s automated trading tool.
All of the actions are represented as blue balls, and you can connect them visually on a two-dimensional plane. Once you have made your automated strategy, just press play and it will take over from there.
Starting and stopping the new automated trading strategy is also simple. It is just a matter of pressing play or pause, and the strategy will begin trading or wait. You can then save the strategies that work for you, or even share them with other Superorder users!
How To: Launch a Trading Strategy With Superorder
The trading strategy builder that Superorder offers its clients is a breeze to use. To begin, you will need to connect your exchange trading account by entering the API keys in the settings section of Superorder.
You can then visit the terminal and being creating your strategies.
All you have to do is follow these simple steps:
- Start by creating a new template for your strategy
- Then name the strategy, choose something that fits its purpose
- Press the + button to add the first element. Wait for Rate is a common first element
- Now, specify the coin pair, the operator (>, >=, <., <=), and rate you want
- The next element you add will probably be Market, Limit Buy or Sell
- Now just specify how much you want to buy or sell of any given coin pair
- If you want to, you can modify the strategy with other orders like Stop Loss or any Fork
Once you complete these steps, your automated strategy is ready to deploy to the exchanges. All you have to do is press play, and the automated strategy will do the rest!
Keep in mind that Superorder’s platform is capable of running more than one automated trading strategy at a time so you can trade multiple markets automatically without a problem
It can be tempting to lock in a profit and take your position out of the market. If you are using an exchange’s trading interface, it might be a better idea to close out a position, as many don’t offer advanced order types that can help boost your trading profits.
Superorder included trailing stop-loss orders for its clients, and they can make a big difference in your trading. Once a position becomes profitable, trailing stop-loss orders can be activated (or will become activated if you set them up).
Trailing stop loss orders will automatically move your stop loss levels up (or down, if you are short) as the market moves. Once the market stops going in the direction that is making you a profit, the stop loss level will cease to move. If the market moves in the opposite direction, your position will be sold at a level that you choose.
There is no reason not to use trailing stop loss orders if you are trading based on market momentum, and they can help you to make more money on your winning positions.
Superorder also built a few handy features into its platform that will be welcomed by just about anyone who invests or trades in cryptocurrency.
One of the most useful tools that Superorder includes is a portfolio management tool that will allow you to see your entire crypto portfolio at a glance. Instead of having to look through each exchange that you use, Superorder lets you look at all your positions at once (on the exchanges they support).
Having a one-stop portfolio view is extremely convenient, and allows you to spot any positions that have grown too large, or losing trades that might have gone unnoticed.
Charting is one of the most important tools for any trader, but many of the crypto exchanges simply don’t give traders enough in terms of long term charting ability. Superorder has addressed this problem and gives its clients charting ability that is on par with other professional trading platforms.
The world of cryptocurrency trading is still young, and Superorder is helping to fill in some of the gaps that keep traders from giving their best. Longer term charts mean a better picture of how markets have reacted over the last few years, which may help traders to make better decisions.
Anyone can signup to Superorder and make use of their 14 day free trial, after this period you will need to upgrade to a paid account. Their Pro account then costs $19.99 per month or $190.99 per year ( saving you $48.89 ) and includes the following :
- 10 simultaneously running strategies
- Extended chart timeframes
- Access to 2 exchanges
- Priority email support
If you need more than that, you can contact them and they will create a custom plan for you which starts at $500 per year.
Superorder packs a lot of functionality into its fully featured crypto trading platform. It is still being developed, and other big cryptocurrency exchanges are likely to be added to the platform soon.
For traders that need access to a suite of professional-level tools, Superorder makes a lot of sense. The people who designed the platform seem to understand what traders need, and built a platform that gives cryptocurrency traders the tools that are available in the established financial markets.
The only real downside to the platform is that is doesn’t work with some of the most popular crypto exchanges out there, like Coinbase. Once Superorder grows a little bit more, and adds more exchanges, it would be hard to find any flaws with it.
Even as it stands today, Superorder is a great trading platform. The automation tools that Superorder developed are extremely useful, and it will be interesting to see what else Superorder adds to the platform in the future.