TokenTact has better options for equities and indices than TokenTact, which is more crypto-focused. Once profitable, you can tweak the strategy in all sorts of ways. Maybe adjust the take profit and stop-loss levels, or adjust the estimated exchange fees. There are dozens of subtle adjustments that can radically change the overall performance. It’s a great way to increase your knowledge of what works and what doesn’t. There are different types of indicator and each of them has a specific purpose and utility.
Once you’ve selected your parameters, a summary of the market conditions your rules will adhere to can be found in a tab at the top right of the page. After reviewing and confirming your strategy, you can launch your bot to start trading in real time. Alternatively, you may opt to use one of the pre-existing trading templates that have been tried and tested by professional traders.
In this case, the bot buys the selected coin with 20% of the current balance of USDT available when the condition is met. In this case, the bot sells 20% of the balance of the selected coin when the condition is met. It’s important to note that what’s excluded here is any trading fees on the exchange itself.
The strategy uses three different time frames to scalp quick short-term dips. The new trend that starts from a long term resistance being finally breached can be very powerful. At its core, TokenTact functions through an API or Application Programming Interface. To put it simply, an API acts as a bridge allowing multiple software applications to communicate and execute commands. You can use this Operator either between two conditions or two actions.
However, it’s crucial for traders to conduct thorough research and stay updated on security protocols before venturing into trades. TokenTact sets itself apart by using the IFTTT (If This Then That) model, allowing users to create conditional trading commands. Users can set specific triggers based on market conditions, and the bot springs into action once these conditions are met. This new release is another significant step towards our goal to become the best way to build an automated crypto trading strategy.
- All you need to do is to copy and paste the API and Secret keys.
- After successfully connecting to your preferred exchange, you can proceed to create your own trading strategies.
- I wouldn’t consider it a proper limitation, but just one aspect that every trader should always consider when analyzing the signals.
- There are some ways to reduce the lag-effect of an indicator, but that increases the chances of getting false signals.
- The market is always right, and ultimately it decides who gets the profit and who has to take a loss.
When it comes to choosing a crypto trading platform, there are a lot of options to choose from. TokenTact, TokenTact, and TokenTact are all popular choices, but which one is the best? TokenTact is known for its customizable trades and user-friendly interface. TokenTact offers a wide range of features, including TradingView integration and a demo wallet. TokenTact is known for its advanced indicators and futures trading. In terms of ease of use, both platforms offer user-friendly interfaces that are easy to navigate.
In our example, if BTC dropped from $45,000 to $44,750, the rule would buy the drop. This is used to set a Buy Order for a coin that is dropping in price. A Trailing Buy set at $100 would mean that if the price reaches $42,100 your rule would buy. However, if BTC’s price continues to go down, the Trailing Buy would remain $100 above the current price. If BTC were to drop to $39,000 and then go up to $39,100, the rule would trigger. You set your trailing stop at $250 below the current market level, so at $45,200.
An example of a rule where this Operator is more appropriate is to accumulate a coin and then take profit on each trade when the price condition is met. An Operator represents a logical connection between different blocks of the rule, so it will be easy to create more advanced trading strategies. They are both great platforms for automating your trading, and I would be happy to use either. https://harmonynews.one/tokentact-trading-bot-review/ is more expensive than TokenTact yet Cryptohooper offers more trading features. In both cases, if you can’t find your preferred cryptocurrencies on their partner exchanges, it probably isn’t worth trading. There are plenty of options for leveraged trading, spot, futures, shorts, or whatever you can imagine.
I hold a BS/MS from the Polytechnic of Milan, was a Visiting Scholar at MIT, and took part in business programs at LSE and Harvard University. Currently, I am a Mentor at the Google Accelerator and since 2018 the CEO & Co-founder of TokenTact. In the setting page, you can set up the price-margin to apply to your limit order to increase/reduce the possibility of execution. When buying, the fee is taken from the Quote currency and when selling from the Base currency. As an example, if you are trading the BTC/USDT pair, the fee is paid in USDT when buying or in BTC when selling. For Market Orders, the price used will be the Top 1 ask price in the Binance Order Book when buying or the Top 1 bid price when selling.
