As of 22 September 2022, CScalp, a professional day trading software platform has officially released new updates to their platform. These updates include a new connection to Phemex, as well as expansions to the Watchlist and charts.
Scalping trading is the type of trading, and has three main characteristics. The first being all of your trading takes place within one session, that’s why it’s called day trading crypto. This means you start the day with no open positions, and end the day with no open positions. The second characteristic is that order books play the main role in how traders make decisions, but they also use market trades history as well as clusters and charts. Finally, scalping includes a daily drawdown, which is a limit set on how much money you can lose before your trading session is ended and is the main risk control mechanism for scalpers.
CScalp is a professional trading software terminal that allows traders to access all exchanges in one place, plug in multiple exchange accounts, and hedge the risk of poor internet connection with proxy servers. The platform has over 12,000 daily users from over 50 countries.
CScalp is available to download on Windows x64, but can also be run on macOS and Linux using the Windows emulator. You can connect your CScalp account to your accounts on exchanges via API.
With the recent updates, the biggest news is the addition of connectivity to Phemex exchange. Via this connection, you can trade two types of Phemex tools. The first one is “USD Perpetual”, which are the usual perpetual futures. The second is “COIN-M Perpetual”, which is the inverse to the usual perpetual futures.
The watchlist is an important tool for traders as it allows you to keep an eye on different cryptos that you will need to have information on in order to make the best trades. This update expands the Watchlist functionality within CScalp. Scalpers can now add up to 40 instruments. Previously, you could only add up to 14 instruments.
With the expanded Watchlist, there have also been two linking groups set up as default settings for the Watchlist. The first group is the linking of the order book, chart, and Watchlist, and the second group is the linking of the order book and chart. This allows the trader to quickly track potential opportunities or monitor their performance by saving space on the screen..
Keeping an eye on charts won’t necessarily help a scalper in the moment, but charts play an important role in how they make future decisions on which cryptos to buy and sell. Thanks to an update to the charts, traders now have access to more charts. They can now simultaneously open 40 order books and 40 charts. This is a massive amount of information available at the scalpers fingertips via CScalp.
In order to help scalpers make the most informed trades, beyond the 40 instruments, order books, and charts, CScalp offers other tools like a free crypto screener, which shows the dynamics of market prices and allows scalpers to find entry points faster. The screener lets scalpers track up to 10 of the most volatile tickers on the Binance and FTX futures market.
If you’ve yet to learn scalp in trading, CScalp is a universal platform that offers a free course on how to trade that allows crypto users of any age and experience to learn the ins and outs of trading before they dive into it fully. Throughout the course, traders will also be immersed in CScalp software and can thus learn it in conjunction with actual trading for a fuller experience.
CScalp is a universal tool designed to make trading easier for scalpers in order to maximize their profits. With this new set of updates, CScalp is able to provide a smoother, more immersive experience as well as expand the list of exchanges it can be used with. This is exciting news for the CScalp team, and points to a bright future in the world of scalping.