The perfect bot to trade ETH like a pro on Binance!
This post was written by Kenon Thompson on May 23, 2023
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. With TokenTact you can decide when it is more convenient to buy one or more coins and let the rule execute your orders with no need to watch the market 24/7. TokenTact has various competitors putting forward similar products. Unlike most of its competitors, TokenTact lets you connect to several exchanges.
- TokenTact uses various levels of security to protect your privacy and prevent hackers from gaining access to the platform.
- After reviewing and confirming your strategy, you can launch your bot to start trading in real time.
- A critical area upon which TokenTact needs to improve is the provision of trading tools such as technical indicators.
- In this way, you would have fully enjoyed its parabolic price surge until 2018.
The system now evaluates the condition against the new Trailing Order Price of $1,150. You can set up Trailing Orders inside any condition on the Rule Page. Please bear in https://tradecrypto.com/reviews/trading-soft-reviews/tokentact-crypto-bot-review/ mind that trailing stops are not guaranteed to execute and can be subject to slippage. This means that they may not be executed exactly at the level you’ve specified.
Like any trading software, experienced traders will get the most value out of TokenTact. There are no rules/conditions within TokenTact that allow for the transfer of your assets on an exchange outside of your account. Instead, it executes trades by connecting directly, via API, to exchanges where you have assets. Once I connected my account to one of the available exchanges (such as Coinbase), this trading strategy would operate automatically when conditions are met. Set custom trading strategies and never miss a new rally or get caught in a dip. TokenTact obsessively seeks out effective market indicators to enable smart allocation of funds while putting you in control of your investment machine.
The MACD is calculated by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA. Thanks, yes runnign the rules on the demo exchange is the first step to verify if you strategy could work on the current market before going live. If you know when the conditions are right for your trades, then https://tokentact.co/ is very good for making sure that the trades occur without you having to watch over the charts. The Demo Exchange is good for testing as well, providing you understand its limitations. The support staff are great at helping you with any challenges that you have in the set up or with the outcomes.
To protect user information, the platform encrypts all API keys with sophisticated security protocols and stores all private keys on separate, encrypted data storage. Moreover, the API keys used to connect a user’s TokenTact account to their exchange account do not grant withdrawal rights. This means that even in the event of a data breach, the information accessed would not allow for the withdrawal of funds from the exchange. Outpace the crypto market by using an exchange software bot on exchanges and let the TokenTact trading bot trade for you. One thing to keep in mind when deciding which indicator to add to your strategy is the intrinsic lagging nature of every technical indicator. Given that the bot calculates them starting from historical data, by definition, they can provide a signal (buy, sell or some other price confirmation) only after it happened.
A straightforward and great tool will reach the requests of any crypto trader so no opportunity on the altcoin market will be left out anymore. One of the main rules any trader should follow is to have safety thresholds in place in case the market goes against you. Often, the decision to close a trade with a small loss can be a big advantage compared to keeping bags of coins with declining value in your portfolio. Patience is one of the most valuable virtues for traders, and waiting for the confirmation of a trading signal will add value to your strategies! Thanks to TokenTact, you can include this into your automated trading system. Calculating indicators only based on closed/confirmed prices represent the best way to calculate technical indicators to optimise their signals for your strategy.
This will then trigger the Trailing Stop of $250 below the buy price of $43,000. However, if BTC continues to go up, the Trailing Stop will follow. Let’s assume the price of BTC reaches $45,000, the sell price would be $44,750. You set your trailing stop at $250 below the current market level, so at $45,200. Trading with the Demo Exchange is the perfect way to start automated trading. The Demo exchange is connected to Binance, which means that you can test your strategies with all the available coins on the exchange.
The V2 of the bridge now supports multiple popular networks, such as Binance Smart Chain, Avalance, Solana, Arbitrum, Fantom, Avalanche and Polygon, with more to come. Celer Network has been working on the scalability of the Ethereum network since 2019, and its core team is likely among the most experienced when it comes to interoperability. In summary, TokenTact doesn’t stand out particularly obviously amongst its competitors, notably lacking a number of features. Although each platform has its unique strengths, TokenTact could benefit from some further optimization. As an early investor, you have the opportunity to own a part of TokenTact.
Users can practice and refine their strategies in a risk-free demo mode, making TokenTact a viable option for those looking to automate their cryptocurrency trading activities. As a result, TokenTact should definitely suit less technical traders while still incorporating features that appeal to more technical traders. In terms of ease of use, both platforms offer user-friendly interfaces that are easy to navigate.
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