How Crypto Trading Terminal Ensures a Faster Crypto Trading Experience than Ever?

We all know that the crypto market is quite unpredictable, making crypto trading risky yet profitable. With the right strategy and tools, traders can make thousands of dollars on a regular basis. The secret behind their success is that they upgrade their knowledge by using the best crypto trading techniques. Those who are new to crypto trading world can start by using a crypto trading terminal like TrailingCrypto. There are chances that novice traders might get nervous by constantly changing numbers and tons of tiny buttons over there, but have no fear! Here we will discuss about what a crypto trading terminal is and how to use it to execute your first trade.

Crypto trading terminal — A secret weapon for traders

A trading terminal lets traders execute buy and sell orders on any exchange. Well, it’s an interface which lets you interact with an exchange’s order book by placing multiple orders. TrailingCrypto has an advanced crypto trading terminal that will assist traders to place orders on multiple exchanges. With this platform, you can create complex trading strategies using the most advanced, smart, and intuitive trading tools.

Trading terminal automates the trading strategies of traders using multiple trading tools simultaneously. Besides placing buy/sell orders, traders can consider using advanced orders like Take Profit, Stop Loss, Trailing Stop, Trailing Take Profit, etc.

The key role of trading terminal is to trade assets, analyzing assets, viewing their performance, watching open orders, etc. Trading terminals could be as simple as token swaps, or they could be as complicated as trading interfaces where you can trade futures or place advanced orders.

Structure/Composition of a Crypto Trading Terminal

The best crypto trading terminals connect traders to multiple exchanges and combine it to a single desk. Trading terminals are comprised of four main parts:

· Order book

· Asset price data

· Charts

· Trading history

Here the order book part involves the record of buy and sell orders which users place for a trading pair. At the very top, you can see the asset price data, trading pairs and its market information. Here you will see all the basic information, like current asset price, daily trading volume, price changes, etc. Charts are the main part of a trading terminal. Exchanges have their personal charts managed by themselves, but you will see TradingView version of charts on many exchanges like Binance. TrailingCrypto offers TradingView charts for the supported exchanges. The last major component of the trading terminal is trading history. This tab shows previous trading activity, currently open orders, order history, etc.

Trading terminals ensure an advanced trading experience

· Manage multiple exchanges

· Asset and order management

· Professional charts

· Intuitive trading interface

· Dashboard

· Automatic trading

· Reporting and analysis

Try TrailingCrypto trading terminal to enhance your crypto trading experience.

Placing an order on a trading terminal

Let’s understand how to place an order on Binance via the trading terminal. Well, the trading terminals have a set of buttons and levers. On Binance, the terminal has three main tabs including spot, cross, and isolated. Cross and isolated tabs involve margin trade while spot allows you to trade without leverage.

Trading terminal allows you to submit multiple orders. The most common orders are limit and market orders. You can also go with advanced orders like Trailing take profit, stop-limit, and other trailing orders.

Let’s know about this with an example:

If you are buying Bitcoin for $20,000 then placing a stop order at $19000 could be beneficial. The exchange will sell the assets once the price reaches to $19000, and prevent the trader from incurring losses.

You may place a market order on the exchange where you will only select the amount for the order. Market orders are good for buying crypto assets instantly. However, it is not recommended to use trading for larger sizes due to high slippage. Once you insert the price, you can place a buy or sell order. The order will execute instantly if you are using a market order.

Apart from centralized exchanges, you can use trading terminals on decentralized exchanges too. Let’s understand how:

How trading terminals work for decentralized exchanges?

Well, the situation is quite different for decentralized exchanges. Trading terminals are different for decentralized exchanges in terms of functioning as well as technical designing. The decentralized exchanges rely on liquidity pools, which allow traders to execute orders. Slippage occurs whenever there is a lack of liquidity on the platform. Order books on decentralized exchanges compile records of all the open orders to buy/sell assets.

The liquidity pool of decentralized exchanges contains two cryptocurrencies of equal amounts and they have smart contract containing tokens of both assets. Thus, all this forms a trading pair. Token swaps are quite easier on these exchanges. These decentralized trading terminals have lesser features than the centralized ones.

Besides the trading terminal look and order book, the only difference here is that decentralized exchanges don’t require creating an account. You can directly connect it to the wallet and execute trades without any KYC.

Conclusion

Well, using trading terminals seems tough at first for their complexity. But after understanding about these, you may use them quite easily. And, they are not as complicated as it seems. You can be comfortable with the trading terminal easily after spending a few minutes over it.

TrailingCrypto is one such crypto trading terminal that aims to make your trading much easier and simpler. Trading cryptos is easier than anything else here. Login to the trading terminal and starting from the trading tab, choose the asset from the list of popular ones. Select the asset, and now, you can see its chart.

Trade execution here works in a smarter way. Select the order type, market, and coin you want to trade. Select the price at which you want to trade and then submit order.