Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

When you log in for the first time, we will assist you with setting up your first bot. Backtesting uses historical data and is therefore not reflective of what you will make in live trading. We suggest that you start with the demo account before going to live trading. Deposits take a few minutes to reflect on a trader’s account and the deposit process is fully secure.

If you don’t see errors regarding your API Keys in the Output your bot is connected to your exchange. If you do see error messages, check what you have done incorrectly. Automatically use DCA on loss making positions, or simply select a position and apply a DCA order to it. https://privatobank.com/tokentact-bot-review/ Say, for example, you bought 2 Bitcoins (BTC) for $20,000 and sold them for $40,000. The profits will be the difference between the selling price of Bitcoins and the cost price of Bitcoins. Explore the advantages of automated trading and its various types in this article.

Ever bought a position, which made a big loss right after? When your Hopper wants to buy a position, it’ll wait and let the price go down. When the price goes up again, that’s when your bot will make the buy order. TradingView alerts that create a buy or a sell signal are also signals.

  • This means that you’ll also be subject to the fees charged by the exchange your order is executed on as well as any monthly charges you incur through TokenTact.
  • Because your profits from each trade are generally small, a win rate above 50% becomes all the more crucial to your bottom line.
  • With this way of trading, it’s harder to predict profits/losses when your currencies are unstable.
  • Finally, it is important to note that TokenTact is a paid-for service.
  • Users must submit their full names, email address, and agree to the robots terms of use.
  • You only need to make a deposit of $250 with your preferred broker and this money is yours to use as trading capital.

Do not click “Save” yet, as there is one more step to complete. This trigger can be especially useful when coupled with trend-following indicators, and less useful when used with momentum oscillators such as the RSI. A solid way of protecting yourself against general market crashes is to set up a trigger that will disable buying when BTC crashes by a certain % in a certain time frame. This indicator entails a simple calculation that provides powerful insights at the same time. It combines trend and momentum components and is calculated by obtaining the difference between two EMAs.

Exchange arbitrage consists of buying a coin in an exchange and selling it on another exchange where the pair is more expensive. Profiting from this difference and increasing the portfolio’s value. However, this is not the only way a trader can carry out arbitrage trading. There is another way to implement this trading strategy, it is called triangular or intra-exchange arbitrage.

TokenTact

This makes using TokenTact very safe aside from the risks incurred with actually trading cryptos. Many traders have started with small amounts of money and grown their cryptocurrency portfolios using trading bots. Most successful traders use a good strategy combined with real-time technical analysis and indicators.

Use DCA to invest gradually over time to mitigate risk, or to make up for a loss making position. Buying extra on a loss making position will lower the average buying price. Now, let’s review how to calculate cryptocurrency profits. Generally, you use a fiat currency like the dollar or Euro to calculate the profits. You receive a Paper Trading exchange account that covers all exchanges.

Easily create buy/sell orders, then drag and drop them to the desired place in the order book when things change. Want to use TradingView strategies, indicators and alerts to buy and sell with your hopper? With the TradingView app you can send buy and sell commands directly from your TradingView charts. Make sure to check and see if the signaler has a proven track record and you trust the signals he sends. But below is a list of all exchanges we support, and their support articles on the matter.

These signals are sourced from the best of crypto traders and recommended to users to apply in their accounts. This method is known as copy trading and is popular in forex and stock trading. TokenTact does not allow fiat withdrawals, so to move funds out of the platform, you will have to withdraw one of the supported cryptocurrencies. You can withdraw digital assets to your wallet, or if you want to cash out funds, you can send them to an exchange that allows the service, like Binance.com. TokenTact has 16 different types of trading bots, while the TokenTact platform has 5.