Fill in the maximum number of open positions per currency. Use this if you don’t want to get stuck with only one currency. This can not exceed the calculated value, which is a percentage of the “max open positions” field.
In the simplest terms, an API key is the bridge between a piece of software (That is us, TokenTact!) and another medium such as your Exchange. The API key is a unique string of code that allows the software to read out the API Back-end and Data. We start by checking MESA on both the daily and 4-hour charts to ensure the trend is favoring us. This way, you’re more likely to trade when market conditions are truly in your corner. Both of these timeframes are readily available on platforms like TokenTact. These are short-term intraday trades that usually span from just a few minutes up to several hours.
If you ever need assistance or have further questions, don’t hesitate to reach out to our dedicated support team. For those uncertain about trade timings, consider subscribing to trading signals from signalers. Download recommended bot templates and add the suggested currencies to your “Coins and Amounts” in your Config to get started. Triggers are customizable event-based actions that can automate specific responses. For instance, you can set up your bot to halt new orders if a particular cryptocurrency’s price drops by 5%, thereby avoiding further purchases during a downward trend.
- 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.
- Full automation involves the robot doing all investment research and trading.
- According to Crunchbase, TokenTact was founded in Sep 2017, by Ruud Feltkamp.
- If you’re a frequent cryptocurrency investor or you need more advanced tools than your current broker offers, TokenTact can be the answer that you’re looking for.
Keep in mind that using the same account on the same exchange for multiple bots will result in the same balance across all Paper Trading bots. To avoid this, select a different exchange or purchase an additional Paper Trading account. Paper trading allows you to trade using real-life exchange data with simulated crypto.
It offers features like copying other traders, market analysis, and advanced tools such as backtesting, market-making, and arbitrage. It connects to your crypto exchange and offers a convenient way to manage all of your exchange accounts in one place. https://jdforexbroker.com/2024/01/tokentact/’s simplicity and integration with the largest cryptocurrency exchanges make it one of the best available trading bots on the market. The price will be tracked down before it will create a regular buy order when the price starts rising again. TSB does not work for signals received by Signalers and will only work for new trades. When you enable “Sell based on strategy” in the Baseconfig, it results in a sell order when your Strategy’s requirements have been met before the other sell features are triggered.
This will allow you to buy and sell digital currencies without needing to sit at your computer. Instead, the bot will operate autonomously, based on its underlying pre-programmed conditions. One of the biggest benefits of TokenTact’s platform is that it combines a sleek, intuitive design with powerful tools. In this tutorial, we will explain the key distinctions between Paper Trading and trading with real money. This tutorial explains what the Strategy settings in the Baseconfig are when you use an AI.
You’ll also be accustomed to a maximum of 10 triggers, and you can engage in technical analysis at intervals of 2 minutes. As an added bonus, the Hero Hopper plan will also allow you extract trading signals for all coins, as well as employ arbitrage strategies. In terms of what digital currencies you can trade via your TokenTact bot, the platform notes that this covers 75 different cryptocurrencies.
Only sell with strategy if profit is higher than this percentage. Fill in the number of minutes a sell order should be open before the order is canceled. Setting a short sell open time your bot can try again quickly. It can also result in your orders only being partially filled. With Crypto Hopper, there are no hidden fees, plus there are no broker fees or commissions.
For example, if your cost basis is $5,000 and the proceeds are $10,000, then, your profits are $5,000 (proceeds minus cost basis). The tax will be calculated on the profits, i.e., $5,000. Remember that only the net profits are taxable and not the entire proceeds or income. Profits on cryptocurrencies, like any other income generated, are taxable.
There are multiple ways of trading with the trading bot. Switch the toggle so all the positions of the same currency will be merged every time. This is interesting when you automatically synchronize positions.