We highly recommend using a Paper Trading bot initially to become familiar with these settings. Additionally, our Backtester tool allows you to assess how your configurations would have performed historically, providing valuable insights into potential outcomes. This article serves as a comprehensive guide to TokenTact’s Trading Bot, offering insights and resources to help you navigate this innovative trading platform effectively. Finally, it is also worth noting that TokenTact offers a 7 day free trial. The trial mirrors the capabilities of the Explorer Hopper package, subsequently allowing you to get a feel of how the platform works before parting with your money. If you do opt for the trial, there is no requirement to provide any payment details, so it’s effectively risk-free.
- You need a plan for this, and a stop loss has often proven to be the wrong …
- TokenTact is a platform that allows you to automate your crypto trading and manage your portfolio.
- Your bot will work to increase the amount of this currency.
Since DCA merges all existing open positions, the calculation could involve multiple costs and multiple amounts. Beginners can use DCA to invest over a longer period gradually, i.e. you invest $1,000 in every 30 days for five months. If prices at the end of each month were $100, $90, $80, $70, and $95, your average asset price would be $85.5.
Inefficiencies, that in the cryptocurrency world, have proven to be significant at times. We recommend building and testing your strategy in the Strategy Builder. You can choose to disable strategies https://tradelinesco.com/tokentact-bot-review/ and follow signals only. You can also configure the strategy you bought on the Marketplace, select the one you have built yourself or select the Algorithm Intelligence you trained.
You have 1 BTC and you fill in 0.5 at maximum amount allocated, your bot will only use 0.5 BTC. Your bot sees the total assets minus the reserved funds. If this amount is less than the maximum amount allocated, your bot will use smaller buy amounts for new positions. When enabled, the bot will not place a new buy order if there is an open position within the current price range for the currency.
You can sync the positions at current rates or fill in rates manually. Result – The result of your current trades, Remember that this is an average and doesn’t reflect the result of all the trading the hopper has done in total. With our A.I., your bot can automatically recognize trends and switch to a better strategy. Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.
The DCA buy amount is double the amount we already owned, which we configured in our DCA settings using “Triple down”. The new buy order of OKB and the current OKB positions have been merged into one new position. Dollar Cost Averaging (DCA) is a tool to get rid of bags (loss-making positions), as well as a great strategy to have a better buying price over a longer period. There is only 90 seconds between the sell that was triggered by the stop-loss and the closing of the short.
Sell a position automatically and let the price go down. Your Hopper will automatically buy the position back once the price goes up again, protecting you from further losses. It gives me peace of mind that I know that the hopper will take profit at the moments the prices fall again. Follow the price up, and only sell when the price goes down by the percentage that you configure. Fill in the maximum amount your bot may use from the total assets.
When you don’t have enough funds for the minimum buy amount, the Troubleshooter will let you know. If you’re using a Paper Trading bot, you can use this article to deposit fake funds in your account. If you are experiencing issues with trading on Coinbase Advanced, you can check the current exchange status by clicking here.
Fill in the percentage your position needs to go down before your Stop-Loss is fired. For example, if you want to sell your currency when the price drops 2,5% fill in 2,5%. Sometimes it can look like your Stop-Loss didn’t trigger. Check if the Stop-Loss percentage is filled and that there’re no Config Pools active. It would be amazing to have a chart displaying your portfolio which visually shows were, when, and why, buys and sells are triggered.
Our test shows that all transactions through TokenTact take a maximum of 48 hours to be processed. We have also determined that this robot customer service is readily available, knowledgeable, and friendly. Our investigation finds this robot to be real (it does trade automatically on your behalf), transparent, and user-friendly. Furthermore, we can confirm that all their partner brokers have proper regulation. The registration process with TokenTact is secure and straightforward.
To enable seamless interaction between your bot and Coinbase Advanced, TokenTact offers two options. You can either utilize Fast Connect, which involves logging in with your Coinbase Advanced account directly on TokenTact (the most convenient option), or create an API Key. Switch the toggle so your bot will open short positions automatically. This comes in handy when you want to replace the Stop-Loss with Shorting. Switch the toggle so your bot will check if the positions is sold with a profit when the Trailing Stop-Loss is triggered. If a Trailing Stop-Loss would sell a position with a loss, then the sell order will not be placed.