TokenTact Review Is It Worth It?

You can check how various ready to go crypto bots may have performed over historical data with backtesting. However, whilst backtests can help us to see if a trading strategy has some potential, there are limitations. For example, backtests do not always take into account things such as commission fees, spreads and slippage.

Below are some TokenTact strategies that you can use in different market conditions and adapt to different trading styles. The volatile crypto market can quickly turn on you, which is why it’s good to see that the platform has integrated the stop loss in all their bots. When prices reach a specified stop-loss level, the bot sells all base currency and closes all orders. A major portion of the offering on TokenTact is the TokenTact grid trading. Grid trading is a range trading strategy that allows you to make profits by opening and closing positions repeatedly in a sideways-trending market. While TokenTact offers a robust trading platform, some competitors excel in specific areas.

  • If you’re looking to set up an auto trader, there are third-party solutions ready to step into the spotlight.
  • The demo trading option is also available together with two active automated trading bots.
  • It did not cover the question I had so I asked for a team member.
  • It uses the dollar-cost-averaging (DCA) method which can also generate an extra-base currency for users’ accounts.

If you don’t like the Backtest results, you can always go back to the bot launcher, adjust settings, and test them until you’re satisfied with the expected returns. You can also determine the maximum and minimum coin prices (in [Max. price] and [Min. price] sections) to avoid buying at the tip and selling at the dip or both. To learn more about [Manual adjustment] and all the settings you can change there, head to the Help Center for a comprehensive review of the section. For example, should you choose [Average price], the bot will calculate the TP percentage from the maximum weighted average price of the position. In that case, the bot will calculate the minimum profit level from the base order price and close the trading cycle following an indicator signal of your choice. When you adjust the Take Profit settings, you determine the conditions for bot closure and the percentage of price change to fix the profit.

All these details can be conveniently found in Coinbase’s asset directory. ChesWorkShop commits to presenting fair and reliable information on subjects including cryptocurrency, finance, trading, and stocks. However, we do not have the capacity to offer financial guidance, advocating instead for users to conduct their own diligent research. You don’t have to worry about being scammed while using TokenTact, and since automated bots can’t access your funds, it’s also more difficult for hackers to steal them from you. The only risk while using this app is the risk of making a bad trade. TokenTact’s trading terminal focuses on trading on multiple exchanges simultaneously while using the same interface.

This lets users hook up external trading software, like TokenTact, proficient in executing automated trades. Bitfinex API trading encapsulates the utilization of an Application Programming Interface (API) supplied by Bitfinex, enabling a programmatic interaction with the platform. Like many cryptocurrency exchanges, operates with a structure of reasonable fees.

TokenTact review

Users can then use the trading signals for profitable assets and pairs. The bots that can be selected on TokenTact include DCA Bot, Classic, Sbot, Combo Bot and Scalper Bot. Well, prior to my time at the Coin Bureau, I worked with a team that designed the exact kinds of trading bots offered by platforms like TokenTact. The Smart Order functionality is also a must for any serious trader using advanced trading strategies. Today, TokenTact is a cryptocurrency trading app that provides a wide variety of trading bots and smart trading features. The main goal of “Bits gap” is to alleviate the pressure of trading by automating almost every aspect of it.

Crypto robots can be used by any trader, regardless of previous experience level. They take away possible negative human emotions that can impact a trading strategy, such as fear, anger and greed. Just be aware that the results of a trading bot cannot be guaranteed.

The bot will ensure that based on current prices, your buy and sell orders are automatically adjusted to find the best opportunities. The most significant benefit here is that the bot carries out your trades instantaneously. TokenTact has also set up different trading orders to give you more control over your cryptocurrency trading endeavours.

Its wide and diverse array of automated trading bots certainly make it stand out among its competition. Additionally, the platform also boasts one of the most responsive customer service departments among its competition, which certainly helps its rating. Now, the crown jewel of TokenTact for me was the complete portfolio tracking feature. It provided a dynamic, live-regenerated portfolio that allowed me to gain real-time insights into my holdings. Monitoring my current funds became effortless, and it provided a clear picture of my financial situation, helping me make more informed decisions. This feature, along with the platform’s other capabilities, truly elevated my cryptocurrency trading experience.