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They help you spot quite precisely the best time for buying and selling the asset. This video will guide you on how to set up an automated strategy based on candlestick patterns on TokenTact. This means that if you sell BTC at $43,000 but the price continues to increase say to $45,000, you are missing on the upside. At the same time, the rule would then buy back once BTC would drop by $250.
With paper trading or backtesting, traders can use historical data to determine how well a particular trading rule would perform in the market. TokenTact is a user-friendly cryptocurrency trading platform designed for both technical and non-technical traders. This accessibility brings a level of convenience and ease of use to the cryptocurrency space that is often found in other tech areas.
Your rules will run in paper trading on Binance, properly mirroring actual trades. With our demo exchange, you can simulate real trading conditions to test your strategies. 1) A 19b-4 filing, which is a form used by exchanges to inform the SEC of a proposed rule change. The SEC must approve the rule changes before the product can trade.
To come back to the previous example, if BTC were to start dropping, the rule would sell at $46,200, making sure you secure a profit above the price of $45,450 at which you had bought in. It would have been great to play (live) with the three rules but I'm not handing over cash, nor am I messing around with trial accounts. Good platform, shame they are quick to tie you into a paid plan. So if you send a market order to buy 1 Ethereum, your order will be executed at the cheapest ask price quoted in that given moment.
It would be very time-consuming if this strategy was operated manually, and this is where our rules come in handy. Once the position's market price meets a predefined target, the rule will create new buy and sell orders around the executed price. TokenTact is one of the best crypto trading bot currently available, 24/7 trading automatically in the cloud. Users can trade various cryptocurrency with TokenTact making use of the automated crypto trading bot.
It requires a careful set up so that it will trade the desired amount you expect, and it keeps running smoothly with no allocation issues for your automated trading strategy. The selection in this dropdown will also define how the bot will check the market conditions. The rule will be able to trade only coins that have a trading pair with the quote currency selected. In case you have chosen an option such as “any coin” or “any of my coin”, bear in mind that the bot will only consider coins that have a trading pair with USDT.
As an example, selecting a time frame of 1-hour results in each sequential RSI value to be valid for 1 hour. Technical indicators are mathematical ideals and methodologies applied to asset prices that provide meaningful information regarding the trend. These are valuable information that can make a trading system very https://tradelinesco.com/tokentact-bot-review/ profitable. By analyzing historical data, technical analysts use indicators to predict future price movements. The main difference between Live and Demo Rules will be on low-volume coins that have less liquidity. In those cases were the 'Top 1' execution price might not be available, prices could be less accurate.
- For example, you are waiting for the price to break out from a trading range.
- The user has profited; however, since the action was not part of the rule, the system does not record the sell action.
- You also get to enjoy a complimentary three-month membership to the Hobbyist Plan, allowing you to utilize trading automation to its fullest extent during this period.
- Over the years, it evolved into the largest community of traders.
It starts from i cant execute my draft rules and also i cant delete/edit the rules. Slow response from customer service, i ask about approximate days for solve the problem, they just read my chat without reply, didnt give answer and any solutions for thats problem. If your rule is set to sell if the RSI reaches 70 on the 1-hour timeframe, the bot needs a value greater than 70 and confirmed by the closing a candle to trigger the order. Once the candle closes, and the RSI is confirmed, that is valid until a new candle closes.
You can start with a Free Account Today, however, there are various subscription plans based on your requirement and preference as shown below. The following day the current market price for 1 ETH decreases to $550, but you sold all the coins, so the P&L is still $100. If the trader repurchases the coin manually at $450, the trader has profited by $50.