That’s where crypto trading bots come in – they can help automate your trades and make the process more efficient. TokenTact lets you buy and sell cryptocurrencies on exchanges, using its advanced trading bots. Create a bot strategy from scratch, or use a prebuilt rule that has historically been traded on the exchanges exchange. Run demo trades for free to see how those strategies play out in the cryptocurrency marketplace. TokenTact lets you buy and sell cryptocurrencies on Binance, using its advanced trading bots. Create a bot strategy from scratch, or use a prebuilt rule that has historically been traded on the Binance exchange.
While the rules are running, you can see all the relevant activities and the performances on the activity page. In this way, it’s easy to review how the bot is working and, if needed, you can change some parameters to optimize it. In the free plan, a user can go live with rules but has an investment limit of $500. However, on signing up for a paid premium plan, which is $19 monthly, the complimentary free limit is extended to $2,500. Mudrex is founded by Edul Patel, Alankar Saxena, and Prince Arora who have experience building previous startups and working in the financial sector.
- Your stop distance will continue to move up every time BTC moves up.
- For the rule to trigger, the price would now need to increase by 10% from the new Trailing Order Price of $1,150 and reach a price of $1,265 before the order triggers.
- Did you wish you had invested in Bitcoin on Kraken at that time?
- It offers Any Coin Scanner, allowing you to easily find and monitor any cryptocurrency on the market.
The RSI is likely the most flexible and easy to use among the technical indicators. The popular book “Flash Boys” was the first to uncover the world of automated trading bots via high-frequency trading. If you are https://ftb.fund/tokentact-review/ familiar with home computing, you will be able to install both of these platforms and use the basic portfolio management functions. Getting the best out of them, it helps to have a passion for trading bots usage.
Of course, if the condition is met during that period, the bot sends out the order to the market. In that case, you may want to select a wallet that allows as many opportunities as possible for your strategy. Fiat currencies, stable coins, or BTC are good options but always double-check on the exchange of what trading pairs are available.
It offers 2 indicators MA and RSI, but I don’t suggest using indicators for bots. Use indicators for manual trading only.it offers 2 bots for free.To end my review, it is awesome. I am Cofounder & COO of TokenTact, a platform that helps retail investors catch market opportunities through automated trading.
You can then name the API key and click “Create New Key”, before confirming your 2FA code and completing the key creation process by following all the instructions in the confirmation email. You will then be able to see the API keys, and you should edit your API key restrictions in order to maximize your security settings. The selection of the timeframe has a direct impact on the frequency of the executions. In general, select 15 min or 1 hour for short term strategies and higher timeframes for long term trading systems.
For more specific inquiries, TokenTact’s team can be reached via email. Additionally, users can connect with TokenTact through their various social media channels, providing yet another way to get assistance and stay updated on the latest news and updates. 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. This method operates on the belief that all crucial information, whether it’s news, underlying factors, or market sentiment, is already integrated into the current asset price.
That means that the strategy buys coins that are on solid uptrends, avoiding short-term pump-and-dumps, where the risk of buying the top is very high. At other times it’s not so easy to identify the price level that must be breached to start a new uptrend. One way to try to set up a trend following strategy in this situation is to define a percentage price surge that you consider to be the accurate indicator of the start of a sustainable uptrend. Succeed in the crypto markets with an auto trade bot for Poloniex and become a professional trader with TokenTact.
The general idea is that they are very complex and to some extent, that is probably true, and it’s challenging to manage them with manual trading. Technical indicators and crypto trading match perfectly with an automated trading system. A trading bot can process a massive amount of data 24/7, increasing the effectiveness of your performances significantly. You can design your own rules to trade crypto without being a coder. So you can DCA or buy the dip, grid trading or trend following, whatever is your style and depending on market conditions. They already have a large set of crypto trading rules templates but you can be creative and develop your own rules.
A common trading tip is to calculate indicators starting from the asset’s closing price in a specific period (according to the selected time frame). Then, the trader considers only signals generated by “closing prices.” Every indicator is just a tool, so its efficiency is proportional to your ability to read its signals and translate them into an actionable trading strategy.