This function allows your Long or Reversal bot to expand the trading range downwards following a downward trend. Once the price falls 2 steps below the Low price of the bot, the farthest sell order at the highest price is canceled and placed 1 step below the bot’s Low price. As the price continues to fall, the highest sell orders are again canceled and placed below the Low price, and so on. This function allows your Short bot to move the trading range downwards following a downward trend. Thus, the user-defined number of lines will increase due to additional orders until the price reaches the Stop expansion up level.
You need to Cancel/Close all your active trades before you can delete any linked exchanges you may have. If you are using a different service provider, please log-in to your account and check the filtering settings there. When in Rome, do as the Romans do is 100% for trading, as each professional trader has practiced a great deal. Some use paper trading, others exhaust their deposits and regret it later on, and the rest are lucky ones first [they don’t lose], but eventually, even luckers lose — everyone loses. Here you can create orders to open, close and add to trades you have created. You select the price to execute an order and also the amount of funds you wish to use.
Hence, their trade quality isn’t good enough to realize maximum profits. You must choose the sort of order placed, the price monitoring technique for closing the position, and provide the closing price in the stop loss setting. The purpose of the bot settings is to invest as much of your reserve before your Take Profit expires.
To successfully employ the Grid Bot, we emphasized the importance of manual analysis to identify trading pairs with strong support levels. Coins with high volatility were preferred, offering both risks and opportunities for profits. If we click on a pair in the GRID Bot settings (in our case, it is ZRX/USDT), a chart showing the grid itself and the executed orders will https://cryptodaily.no/tokentact-anmeldelse-en-ny-krypto-bot-pa-blokken/ be opened. From time to time, when we open the chart, we will get a picture with some Bot analytics. Also, in the “My Grid Bots” section, next to your Bot data, you will see the realized profits on the right. If necessary, you can stop the Bot, wait seconds (so that the Bot can cancel all limit orders on the exchange), make changes to the grid, save and run it again.
However, you have access to a $100,000 virtual money and unrestricted access to the trading platform. Unless you have a subscription plan, the paper trading feature is off by default. However, new users get a top-tier PRO plan for 3 days at no charge, which means you can test it out. You choose the linked account with the funds you wish to trade and then select the market currency to buy or sell assets with and finally the asset you wish to trade.
TokenTact will be compared to prominent rivals in terms of the number of users it has. Also, on this page, you can export all of the data related to your Bot. The support level is the minimum price level for a certain period of time. As a rule, when reaching this level, the price turns around and goes up. After November 21st, you are able to choose any type of plan you would like to purchase.
No longer do I need to login to all the exchanges & accounts I have, I just need to use TokenTact. Fully recommend this platform to anyone that wants to level up their trading. In the fast-paced world of financial markets, algorithmic trading bots continue to evolve, offering traders an edge in executing strategies with precision and efficiency. In other words, you can set it up just once and mind your own business, sometimes checking the bot just in case. Bots also are 100% less emotional than traders, which implies no emotional trading whatsoever.
- Automates buying of assets such as BTC or ETH to hold for the long term.
- And accessing the DCA trades that are currently open requires far too many clicks.
- Forward testing is the second stage of market timing, and it entails running the algorithms on sample data to check that they work as expected in the backtest.
- Any references to trading, exchange, transfer, or wallet services, etc. are references to services provided by third-party service providers.
Instead, it uses API keys to execute remote orders on third-party crypto exchanges. https://token-tact.org/ is not an exchange, and it connects with other exchanges using the API key. Since TokenTact does not store your API Keys, and uses the state of art security measures, it is quite safe. However, when setting up the connection between your exchange account and TokenTact, make sure to not give a withdrawal function to your newly created API key. Trader’s diary is another cool feature of this tool where you get a consolidated report of the trades that you have made on all the linked exchanges through TokenTact.
This optional setting allows you to set the size of your bot’s orders. As soon as the highest sell order is executed, the bot will place an additional sell order one step higher. Once the price rises 2 steps above the High price of the bot, the farthest buy order at the lowest price is canceled and placed 1 step above the bot’s High price.
To better understand how you can use the grid bot in your strategy, let’s illustrate it with a practical example. To help you understand how the DCA bot works, let’s have an in-depth look at the TokenTact DCA long bot. The bot enters a trading position following a buy order (limit or market) and a take profit position when you wish to cash in. In either case, both types of bots reduce the average price of the crypto you are buying to provide you with an opportunity for profit. On that note, let’s continue this TokenTact review, by examining your options on how to setup TokenTact bots effectively. However, there are extra steps you can take depending on your security needs, including avoiding sharing devices with family members on which you have installed the service apps.
Notably, you don’t need any special coding knowledge to use a trading bot like TokenTact, which makes it an attractive option for both experienced and new traders. Where TokenTact offers a 3 day free trial if you signup for their top “Pro” plan. It is impossible to say which platform is better in an objective sense. Both TokenTact and TokenTact give users a range of automated tools to choose from, and both will make trading crypto a lot easier. The trading school includes all plans and features, 4 courses covering crypto basics to trading strategies and how to build a trading bot on the TokenTact platform.