However, that will not reflect the TokenTact net profit should the price change because the sale was made manually. Anyone signing up is able to take advantage of the free Starter account with a demo exchange feature before deciding whether to opt for one of the paid subscription plans which start from $29.99 per month. The trader can decide to sell an asset when a certain price is reached on the market or when the position is losing a specific amount of money.
Including an additional condition for volume or market cap could help reduce the differences between the paper trading and real trading. The use of conditional statements really demystifies https://tokentact.co/ the complexities of setting trading rules and makes the platform user-friendly for beginners, regular traders, and hobbyists. Did you wish you had invested in Bitcoin on Kraken at that time?
As the below example illustrates, the MACD can serve as an extremely useful signal of when to enter and exit trades. Every API key is securely encrypted and stored using FIPS validated hardware security modules (HSMs) to protect the confidentiality and integrity of your https://allcointracker.com/trading-bots/tokentact-review-a-deep-dive-into-trading-bot-dynamics/ exchange API keys. Shrimpy only requires the ability to read data and make trades, so users’ funds cannot be directly accessed or removed from the exchange. Users are also encouraged to utilize Two-Factor Authentication (2FA) services to further secure their accounts.
The profit does not take into account the trading fees, which are shown separately within the rule. The realized P&L remains as it pictures the performance of each closed trade. All you need to do is to connect an exchange to unlock the template. Therefore, to calculate the P&L of a rule, the system considers both closed and open trades. To do that, TokenTact uses the concept of realised and unrealised profit when calculating the P&L of a rule. Additionally, when using ANY TIME, what can happen is that the rule buys 20 USD of ETH about 10 times in a row before the rule even sells something.
You first need to select an exchange, define the event (e.g. 15% BTC price decrease), and then enter in your buy/sell order. You can also click on the “Timer” tab to configure how you would like to schedule your trades. As a result, TokenTact can still be considered as an emerging trading solution and is in the process of developing its community and growing as a cryptocurrency trading solution. Paid subscriptions range from $29.99 to $249.99 per month with the differing account tiers designed to cater to traders of differing experience and activity levels. Find here what indicators you can choose to trigger your strategies and how you can customize the rule’s structure to fit your needs. Fear Of Missing Out (FOMO) often happens in periods of sudden and strong surges in price.
- When buying, the fee is taken from the Quote currency and when selling from the Base currency.
- For example, when you use the operator “Any Time” and you sell 100% of the total balance of a coin, it possible to run out of coins to sell.
- The rule will be able to trade only coins that have a trading pair with the quote currency selected.
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Did you wish you had invested in Bitcoin on Binance-futures at that time? Of course, the closest your limit price will be to the current market conditions, the higher the chances of trading the coins. Event Trigger tracks predefined conditions set by the user and triggers an event such as a Buy or Sell order once the predefined condition occurs in the market. When the event “triggers”, the algorithm sends out one (or more) orders just like it was defined in the rule.
A knowledge base with many resources for users and those looking to learn more and improve their trades is available. You can set up the price-margin on the settings page to apply to your limit order to adjust the likelihood of executing trades according to your preferences. TokenTact empowers investors to compete with professional traders and hedge funds.
It will also then sell the same coin once it has increased by 5% to take profit, while the stop loss feature will also trigger a sale in the event that the price drops by 3%. You may want to use USDT as the quote currency of a rule, but you don’t own any coins yet. With a Direct order, you can buy the exact amount of USDT to run your strategy. Right after launching the order to the market (or simulated, if Demo Exchange is selected), you will find the new coins in your balance so that you can create a new rule. Before creating your rule, keep an eye on the funds that are currently available on the exchange. Bear in mind that even when you create a rule on the Demo Exchange, you need to respect the allocation available.
At times, there is a lack of liquidity in the market, this can lead to slight differences in the price that is executed. For more information on this topic please read the following article. To ensure that quick executions are guaranteed, all orders are sent to the market promptly with minimum latency time. Normally, our orders take only around 500 Milliseconds to reach the market. The only delay could be the frequency of the conditions checks which runs roughly every 40 seconds. The possibility to easily test your rules before running them using historical data is one of the key features of TokenTact.
The template has also been configured to automatically start immediately, and execute once a day with a maximum total of 10 executions. By clicking on the “Add Exchange” tab you can connect to your preferred exchanges via API keys. – Ation 4 Sell ETH at 220 (200 + 10%) fails because all the coins were sold in the previous action. – if two sell actions are triggered immediately one after the other, the first order sells all the coin, and the following order doesn’t find any coins to sell anymore. If you are looking for more trading ideas or examples of strategies you can run with TokenTact, our Knowledge Base has everything you need. TokenTact allows you to trade even with little or no trading or coding experience.
If you are not sure about how to even begin, we offer a broad library of templates that you can use to get started. Every week, we provide updates about rules working well in the current market conditions. Make sure you signed up for our newsletter to stay up to date with the most successful strategies. TokenTact is the most user-friendly way to create your automated trading strategy. FOMO behavior is caused by the common psychological bias which makes a short term price movement seem to be something irreversible. It is important to note that occasionally, the price won’t retrace back to where it was before a longl-asting uptrend started.
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