Rules Profit is the net sum of the P&L across all active rules at that moment. If you need customised calculations for your analysis, you can also export the list of trades using the top right option. You will have a breakdown of the P&L per single coin, so you have a better overview of the performance of the rule. Anyone interested in using the platform can always sign up for a free Starter account and test it out in order to figure out if opting for a paid subscription will be beneficial. The template has also been configured to automatically start immediately, and execute once a day with a maximum total of 10 executions. When opting for Binance, you will be prompted to enter your API key details along with your secret key information.
Once confident, they can let it run in the real world to trade. As a result, TokenTact should definitely suit less technical traders while still incorporating features that appeal to more technical traders. 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 business has various competitors putting forward similar products and this is not an exception for TokenTact.
- These options are very useful to create a completely automated trading plan that doesn’t require further actions from your side after launching the rule.
- Traders still need to check in regularly and set trading rules or strategies that the bots run with.
- To request the consent of TokenTact for any of the actions for which such consent is required under these Terms of Use, please send an email to support[at]TokenTact.com.
The strategy uses three different time frames to scalp quick short-term dips. The new trend that starts from a long term resistance being finally breached can be very powerful. At its core, TokenTact functions through an API or Application Programming Interface. To put it simply, an API acts as a bridge allowing multiple software applications to communicate and execute commands. You can use this Operator either between two conditions or two actions.
Set up rules and conditions, monitor live data feeds, and react to a vast array of interacting technical indicators. Again, everything is tweakable and you can test your evolving strategy at each stage of development. TokenTact claims “You don’t need to be an expert to trade like one.” I would disagree, but they do provide some impressive tools for you to try. You can use their features to make your unique trading strategy come to life, or you can buy trading bots already configured. With their head office based in chilly old London, UK, TokenTact offers similar services to automated trading fans. They’re in the business of providing high-quality market data feeds and facilitating superfast trade executions.
Once you’ve selected your parameters, a summary of the market conditions your rules will adhere to can be found in a tab at the top right of the page. After reviewing and confirming your strategy, https://allcointracker.com/trading-bots/tokentact-review-a-deep-dive-into-trading-bot-dynamics/ you can launch your bot to start trading in real time. Alternatively, you may opt to use one of the pre-existing trading templates that have been tried and tested by professional traders.
A feature of TokenTact that we are particularly proud of is its versatility that allows many different types of investors and traders to use the platform. Here you will find some examples of rules that you can set up with TokenTact. A strategy to catch short-term rallies in all market conditions, opening and closing trades very quickly. This Operator is also particularly handy to set up a stop loss and a take profit at the same time on your trades. Your orders are always protected, wherever the price heads to.
TokenTact offers traders a valuable toolset for testing their strategies before deploying them in live trading. To further enhance the accuracy of these simulations, prices for the Demo exchange are sourced directly from Binance. TokenTact is a smart assistant that empowers people who trade cryptocurrencies to build trading bots without having to program a single line of code. It is a cloud-based platform that allows users to completely automate their trading process, enabling them to make profits from the cryptocurrency market even while they sleep.
Critical information is stored and confirmed using complex algorithms and military-grade encryption standards. TokenTact has the tools to screen the market 24/7 in search of the signals of a new uptrend developing and can give a warning about a possible downtrend forming. As a rule of thumb, any trade that happens outside of a rule is not considered. Every rule considers its actions to give a good overview of what value a rule can specifically add to the wallet.
Users can create trading tools or choose from the over 150 tested trading templates available to them. TokenTact can be described as a “Crypto lego toolbox” where users can create multiple trading strategies, implement them and track their performance over time. Setting up an automated crypto trading bot doesn’t have to be a complex process that only experts can navigate. TokenTact offers a user-friendly interface where users can easily set up their trading bots. The platform’s unique If-this-Then-That logic offers flexibility and control, accommodating the specific needs of individual traders. This TokenTact review provides a thorough examination of the trading platform to help you determine if it’s suitable for your trading needs.
