A Guide to Using SuperOrder

25 Jun 2019

When it comes to cryptoasset exchanges, even the most spartan platform has the “Limit” order type. This is the simplest kind of order, placed to either buy or sell at a certain price - and nothing else. Some of the most barebones and spooky exchanges don’t even warn you when you’ve entered a ridiculous price - like 1 BTC for $1 - but the decent ones with basic protection usually do.

The complexity goes up from there. Many exchanges have “Market” orders, allowing the user to opt to buy or sell at whatever price is being offered. Then “Stop” orders, both market and limit, where an order isn’t placed until a certain price is achieved. The list of order types goes on - fill conditions for example - and on the most professional level can get confusingly sophisticated and complex.

Yet, in spite of all the order types available on the higher-level exchanges, one very intuitive thing you cannot do, but that your trading brain is very much constantly doing, is to lay out complete trading strategies ahead of time.

We do it in our head: when x gets to y price, sell it and buy A at B price; and when a gets to C price -  go into Tether. Or even, buy E at price, sell it at G price, and rebuy it at D price. The problem is that, one cannot set all these orders with the same chunk of capital: you must have it in your wallet in order to put an order up. And no exchange that this writer is aware of allows its users to sequence trades in this manner.

What happens is that we end up sitting at our computers, staring at screens to an unhealthy degree...all so that we can babysit trades that really just have to be monitored for best results. For example, let’s say Bitcoin decides to start pumping right before bedtime - do you really want to stay up and buy, sell, buy, sell, etc., when you could be sleeping?

SuperOrde

SuperOrder fills in this blank. It is a graphical tool that allows you to set complicated sequences of contingent actions. SuperOrder will set the orders you want when the conditions are met.

The possibilities seem pretty close to endless with this tool, and it obviates the need to sit at your computer waiting for something to happen. Most any possibility or eventuality in the market can be accommodated by SuperOrder.

SuperOrder interacts with your exchange trading accounts via an API. At the time of writing, only three exchanges are available, but we can presume that more will come. The classic three available at the time of writing are Binance, Bittrex, and BitMEX. Certainly, even just these three will be a great help to many traders.

Signing up is very simple, it just takes an email. After confirming the address, you don’t even need to type a password to login: SuperOrder sends you a unique link that will take you straight to your trading terminal.

After that, you’re in. That doesn’t mean your account is vulnerable, because there is Google 2FA available to set up. This is very easy to find the Security submenu of the Settings page.

From there, you can start playing around with the planning interface. There are four sections that comprise the entire platform. The below screenshot shows the entire interface.

The first is the general menu bar on the left. This section is perhaps the most varied of the four, although it is simple enough to understand. Here, you can select an exchange and trading pair to focus on in the chart window (see below); you can select between opening the Order pane or the Strategy pane in what I’ll call the Order-Strategy section (see below); and you can open the main root menu of the website with links to Settings, Balance, etc.

The second section is the chart, located at center-top of the screen. It is a TradingView integrated chart similar to what you'd see on many exchanges, but here there are some special features to highlight.

Whereas on a typical TradingView chart, where all markups would be reinstantiated across the separate timeframes - sometimes sloppily, as there tends to be some slippage on where the markup falls - on SuperOrder the chart saves separate markups for separate timeframes. While this may be more work to redraw markup several times, it also obviates the annoying sloppiness of TradingView trying to do it for you. 

Moreover, it is especially annoying when TradingView copies markup across indicators of different timeframes - RSI for example - as markup from one timeframe doesn't even match the chart on another due to the nature of indicators. This problem is completely avoided on SuperOrder because of the discrete timeframe charts. 

There is another very cool feature of the charting on SuperOrder. If a strategy is opened in the Order-Strategy section (see below), the strategy is mapped right into the chart, visualized there a second time and in a second format. The visualization shows up on the chart at whichever point the strategy currently is sitting at. This added visualization is unique to SuperOrder, although it is somewhat similar to the charting features on BitMEX.

A final feature of the charts section is that, you can save chart timeframes - complete with all their discreet markups - to hotkey buttons on the side of the chart window. This makes navigating your different drafts very easy.

The third section, on the top-right of the screen, is a list of your strategies - I’ll call it the “List” section. Here you can organize all of your strategies, whether they are drafts, active orders, or completed orders. You can copy them, change the titles, execute them (with the classic “Play” button icon), etc.

The final section is, in our opinion, definitely the most interesting. This is the afore-mentioned Order-Strategy section, and where we’ll spend the rest of our time in this guide.

It’s located on the bottom, but eventually you’ll expand it to full-screen mode in order to draft complex strategies. This section has two distinct subsections, which the reader can probably guess. You switch between the two sections using the aforementioned toggle, in the general menu bar to the left of the bottom pane: the “Order” and “Strategy" options are clearly marked. 

“Orders” is a classic orderbook menu, like you would find on any good exchange. It is a respectable set of options, with Limit, Market, and Trailing Stop (a dynamic stop loss that moves with price). There is also a “Super Order” box, which allows you to set up all the components of basic order in one shot: buying x amount of asset (or x amount of BTC equivalent!) at y price, with a take-profit price and a stop loss - every common thing you would need for a clean order.

The “Strategies” pane is the meat of SuperOrder. Initially, it just contains the following message:

The first thing you’ll want to do to start playing around, is click “Create new strategy.” I’ve named an example strategy “Bitcoin to $10k” for this guide, and it appears in the List section. 

To start messing with the drafted strategy, we must click the button with a “+” symbol in it. 

For my first strategy, we’ll assume I have some Bitcoin in my exchange account and am waiting for Bitcoin to hit $10,000 - or somewhere around there - and sell. Therefore, my first condition will be the “Wait for rate” condition which is set up to the right of the Strategy pane.

The blue arrow will activate the first trigger for the strategy (in draft mode, that is). Now we have our root of what will become the strategy.

Now, I click the expand toggle to open the Strategy pane in fullscreen mode.

Now we can start building a strategy. Let’s say I would like to sell half of my BTC into USDT around $10k, leave 25% of my BTC where it is, and with the remaining 25% BTC wait for a BNB dip to buy. In addition, I would like to rebuy BTC on the way down with my USDT, so I will set orders at $8,500 and $8,000. Such strategizing is easy with this tool. Let’s build it.

This is the start of the strategy, visualized, which triggers after BTC’s price crossed $9,950. I take the safe option and Market Sell half my stack - which means it will definitely be sold on Binance, no matter how volatile things get. I also set a signal for the BNB price I want to wait for: ₿0.0035.

Next, I’ll set up my BTC dip-buying plan with some simple limit buys where I expect the dip to be caught.

Finally, I’ll set a limit order for BNB, including a trailing stop loss in case I am wrong about 0.0035 being the bottom. The stop loss will trigger if BNB’s price goes 5% lower than my buy-in price, as that’s all I’m willing to risk on the trade.

This entire strategy is now almost too big to screenshot, but the grid is easily dragged and manipulated so that any part of the strategy can be focused. 

When I’m satisfied with the strategy, I can just press “Play” to send it to the exchange linked by my API. Now I’m free to sleep, go outside, read a book, whatever. Freedom!!! (Visualize Braveheart meme.)

This was a very simple example of what we could build. There is obviously no limit what we can do here, with the AND and OR trees providing us with endless possibilities to execute actions under any contingency. 

After signing up, you’ll get 14 free days to try the platform, after which you’ll have to buy the service for $20 a month. That will buy you a maximum of 10 strategies running at one, access to three exchanges, and full chart timeframe options on the TradingView chart. There is also a Custom option, presumably for institutions, which is negotiable.

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