At the moment, the rule triggers on signals from Moving Averages and RSI. Testing a strategy before launching it live to the market can help fine-tune the parameters to reach the balance that fits your needs. Remember, technical indicators are not perfect tools, and they shouldn’t be either. After all, catching the absolute top or bottom of each price swing is virtually impossible.
Technical indicators don’t take into account any “fundamental value” of the asset. That fits well with cryptocurrency trading since so far there aren’t any reliable models capable of predicting their price. TokenTact ranks them according to their complexity and the investment style so a crypto trader can quickly find the one that fits their needs.
So far, https://cryptodaily.no/tokentact-anmeldelse-en-ny-krypto-bot-pa-blokken/ has catered to over 120,000 users, executed over 5 million trades, and handled transactions exceeding $1 billion. TokenTact operates on the principle of “If-This-Then-That,” enabling users to set up automatic trading rules that run 24/7. This approach not only streamlines portfolio management but also enhances its safety and efficiency. Furthermore, TokenTact offers a backtesting feature that allows users to test their trading rules and strategies before launching them, helping to ensure the effectiveness of their trading plans. They draw their insights from a combination of technical and fundamental asset analysis. Technical analysis is pivotal as it focuses on analyzing the trends and patterns of price charts to identify potential trading opportunities.
Preventing denial of service attacks is a priority for TokenTact. The company works with CloudFlare to monitor and stop the platform from going offline. To do that, TokenTact uses the concept of realized and unrealized profit when calculating the P&L of a rule. TokenTact stores the API keys in an encrypted form with dedicated private keys, which are generated for each user separately. Next, TokenTact developed an “If This Than That” rule (also known as IFTTT), based on the strategy itself.
For this type of investor, https://token-tact.org/ allows them to save a lot of time and execute their trades more efficiently. Beyond the approximately 200+ templated strategies, TokenTact gives you the ability to customize strategies. On a more basic level, here’s what it would look like if I wanted to buy $1,000 of BTC any time the price dips 10%. Each rule can be set to run as fast as every minute and executes within seconds. The 'Wait Once’ option of the Wait operator will wait for the designated time and then execute an Action or check the following condition exactly once.
Using Pine Script, you can develop your customized trading system and run it on TokenTact in minutes. Of course, using limit orders reduces the chances of executing trades, as that depends on market conditions. Succeed in the crypto markets with an auto trade bot for Poloniex and become a professional trader with TokenTact. TradeSanta is one of the more popular cloud-based automated trading service providers. The service does not charge any transaction fees for pushing trading commands to exchanges.
- Check out White’s surprising pick for the length of Reba’s national anthem here.
- Remember that a trading bot is a smart tool that helps you implement your perfect trading system.
- When you select a specific timeframe, for example, within 1 hour, the rule checks the price changes according to the candlesticks provided by the exchange.
- The first one is to use a template from the Template Library or create a rule from scratch.
The resulting trades open and close relatively quickly, with an average lower than one day. That is one of the advantages of this strategy, as it is less affected by changing market conditions. When the asset is trending in a steep downtrend, buying the dips may remain stuck with a position in loss for a while. This strategy helps you catch the dips on assets that are not signalling signs of weakness yet.
Including more coins at the same time in a single trading bot significantly increases the possibility to catch more market opportunities. Without a proper trading background, users usually find it difficult to set each parameter of the trading system correctly. TokenTact is a smart assistant that helps to build a trading bot in a few easy steps and is one of the leading trading platforms in the crypto world. Hi Bart, I am sorry you had a bad experience probably in a very volatile day. To be honest, TokenTact is one of the most easy to use automated crypto trading platforms out there. When you launch an automated trading strategy, you should make sure that it can run smoothly according to the current balances available.
Every time the price drop below that level, the bot will send a buy order. It is important to calculate properly the P&L of a rule to give us an idea of the actual value added by launching a specific rule. Traders must calculate profit correctly to understand the overall profitability of their trading as a whole. TokenTact posts its scripts to the website TradingView, which allows you to create backtests of different strategies. Catch the next market opportunity and compete with professional traders. However, you may be waiting for that breakout for buying or selling, but unfortunately, remain trapped in a loss if the trend reverses immediately after.