When it comes to trading cryptocurrencies, things get even more tricky and risky. What are the best trading strategies you could use to take advantage of the opportunities the market offers every day? Is there any technical indicator that could prove to be particularly useful?

The bot scans the market to check when any of the coins in the wallet increases by 2% in a one-hour candle. Following the trend on the downside, the trade is more likely to end in profit. To connect your TokenTact account to KuCoin, you will need to create an API Key that will allow you to create an automated trading bot on KuCoin. Did you wish you had invested in Bitcoin on Kraken at that time? Users can find answers to common questions in the platform’s FAQ section.

The resulting trades open and close relatively quickly, with an average lower than one day. That is one of the advantages of this strategy, as it is less affected by changing market conditions. The base condition for this strategy to run is to scan for coins trading sideways or on the uptrend to avoid trying to catch falling knives.

If you select “from current live price” we use the market price at the moment of launching the rule. The bot uses that price to calculate the price that will trigger the order based on the percentage set. Each exchange sets a minimum size for each order allowed on the trading platform. Make sure the amount you set up for your rules complies with such limits, so you don’t risk that the rule gets stuck with rejected trades.

• 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.
• Technical indicators don’t take into account any “fundamental value” of the asset.
• When the price target calculated is reached on the market, the condition is met and the bot sends the order to the market.
• TradingView offers countless trading setups which you can customize to fit your needs and execute trades on your favourite crypto exchange.
• Succeed in the crypto markets with an auto trading bot for Binance and trade like a professional with TokenTact.

CaptainAltcoin.com does not offer any sort of financial or investment advice. Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. For me, the deciding factor has to be the backtesting functions. TokenTact sends you to TradingView to execute your testing, whereas it’s integrated into Cryptohoper’s platform.

It uses the current market price of that coin relative to the entry price as a reference. As the price of an asset fluctuates, the unrealised profit can change https://allcointracker.com/trading-bots/tokentact-review-a-deep-dive-into-trading-bot-dynamics/ over time until the trade is closed. Therefore, your profits will not be secured (realised) until you close the trade and sell the coins you have purchased.

TokenTact changed that dynamic by allowing anyone with little more than an internet connection to engage in automated crypto trading. TokenTact is a safe platform to define automated strategies on top of your favorite exchanges, including Binance, Coinbase, Kucoin, Kraken, etc. 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. Everything that I provide here site is purely for guidance, informational and educational purposes. All information contained in my post should be independently verified and confirmed.

TokenTact also offers a knowledge base and a ticketing system, but its live chat support service is only available during certain hours. Feels like a sandbox environment for extreme newbies with less than 1k in assets. Over-reacting to a price move is typical error traders do with manual trading. Respecting the strict rule of relying on confirmations is one of the main advantages of running an automated trading strategy, excluding emotions from the decision-making process.

This analysis, therefore, zeroes in on existing price and volume trends to anticipate future shifts in price. This strategy, on average, manages to close trades within one day, meaning that you are not exposed to the risk of holding that coin for long. In this way, market conditions affect much less the overall performance of the trading system. Did you wish you had invested in Bitcoin on Poloniex at that time?

This is a small sample of what’s available, and while the trading strategies do get complex, the software doesn’t. Adding conditions with TokenTact is simple throughout the process. Succeed in the crypto markets with an auto trading bot for Binance and trade like a professional with TokenTact. TokenTact applies advanced protocols of security to protect all the users’ API keys.

Should the down trend now reverse and BTC go up by $250 to $42,250, the rule will buy back 100% of the amount you sold. Here, the rule will buy $1,000 of BTC once BTC gets to $43,000. This will then trigger the Trailing Stop of $250 below the buy price of $43,000.