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How to set Stop Loss & Take Profit on Buy side with TokenTact

Posted by mhengineering in Trading Bots

Uptrend line support shows the price floor below which buyers are likely to step in. Downtrend line resistance indicates the price ceiling where sellers will probably emerge. Yes, the growth from $1000 to $50000 may sound unreal, but that is exactly what you can achieve with automated bots on a rapidly rising market.

Plus, you’ll have the option to extend this to both real and demo modes once your trial period ends. To open an account on Coinbase, new users must provide identifying documents to verify their identities. This mandatory verification aligns with Know Your Customer (KYC) rules that aim to prevent account misuse. Users must submit a valid government ID, such as a passport or driver’s license, to complete the process. In response to these mounting issues, Coinbase is looking to broaden its revenue streams. This strategy has so far led to an increase in tradable assets and the introduction of non-trading revenue sources like allowing users to lend their tokens for a return yield.

That’s why KuCoin leverages cutting-edge tech to lock down platform security, safeguard user assets, and protect privacy.
The overall risk appears low based on its multi-year track record.
Both the Flat and Buy the Dip come with preset configurations that aim to capitalize on a particular market scenario.
Having started an averaging grid at a much higher price, the bot followed the downtrend market and readjusted to keep profiting and accumulating the base currency.

Because of the price discrepancy between these two exchanges, you can buy BTC on Binance, sell it on Gemini, and end up with a $104 profit. That works if you’re quick enough to buy and sell your bitcoin before the price changes. We started https://tokentact.co/ to make trading cryptocurrencies easy, efficient, and stress-free.

An experienced trader looking to set up complex trading strategies would probably be better off looking elsewhere. TokenTact has predefined strategies available for traders using their bots. Users can select any strategy based on successful backtest results which determine how reliable a strategy is.

The bot stops executing trades once the price has crossed the upper threshold of the range. In this scenario, your unrealised Profit will be 0%, as the whole base currency was traded into the quote currency. For customers based in the U.S., Coinbase offers FDIC Insurance for cash balances kept in its wallets, covering up to $250,000 per individual. However, it’s crucial to note that this insurance does not apply to cryptocurrency holdings, urging users to take necessary precautions to secure their assets. Additionally, the insurance policy does not cover losses resulting from unauthorized access to personal accounts. Moreover, BTC/USD, its most actively traded pair, records a 24-hour volume reaching $201 million.

One such platform that has gained significant attention is TokenTact. In this comprehensive TokenTact review, we’ll examine everything this trading tool has to offer, from its bot capabilities and exchanges supported to pricing plans and unique features. By the end, you’ll have a clear understanding of whether TokenTact can benefit your crypto strategy. We decided to stress test TokenTact’s bot and compare it with other platform that offer automated trading bots on the cryptocurrency market. The aim was to prove which platform has the best tools for risk management and profit maximization. Neither did we predict in which direction the price of Bitcoin is gonna move.

Look, in my opinion, TokenTact is a pretty revolutionary piece of software that’s being produced very freaking quickly by a company that really cares about helping us make great money.

TokenTact

If there is any significant movement in the value of a cryptocurrency, you will be alerted. It will help you stay on top of all your trading pairs, and swiftly take action if the market goes in or against your favour. Firstly, the ‘Classic’ bot uses the same amount of the base currency equivalent in each grid. This means that at each level it buys and sells the same quantity of the base currency.

Returns displayed on each of the platform are in the “What platform shows” column. The last column, “Actual return” is the most interesting one, which shows the calculation of the exact return with fees taken into account. From the list of active bots, select the bot you wish to close and click the [Bot actions] button in the right corner of your screen. As the orders get completed, the price range will shrink, the volumes will decrease, and the percentage of execution will grow. Upon clicking the [Create API] button, christen your API key with a unique name (at your discretion), to easily discern its connection to your TokenTact account. This is how to create, configure, and connect your Kucoin API key to the TokenTact platform.

TokenTact’s COMBO bot is the futures bot that combines DCA and GRID strategies to profit from both rising and falling markets. While the GRID allows the bot to generate returns on every market movement, DCA optimizes the average price of a position. The automated trailing of the Stop Loss follows the trend and secures generated returns. Click [Start new bot] at the top of the interface, then choose the DCA bot from the available options. In the bot settings menu, choose an exchange, a trading pair, and click [Short] under [Strategy] (Pic. 1). The DCA shorting bot follows the DCA (Dollar Cost Averaging) trading strategy and divides your investment into periodic sell orders to get a better average price.

1, an uptrend line starts low and ascends higher, linking two or more rising price floors. Conversely, lines with a negative slope that hinder price movement suggest that the net supply is increasing, and a bearish trend continues as long as the price stays https://www.scammerwatch.com/tokentact-trading-bot-review/ below this line. The Stop Loss can be placed at a specific price level where upon reaching, the Stop Loss should be triggered. The Take Profit is set at a certain percentage which reflects how much of the return you want to lock from this particular bot.

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How to set Stop Loss & Take Profit on Buy side with TokenTact

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