This is called an open short position and is only visible in TokenTact’s Dashboard, not on the exchange. The next setting is “Max open short positions”, and it is set at 20 positions. Keep in mind that when funds are reserved for your short positions, these funds are not available to open regular trades. If you configure a high number for this setting, it could result in no new regular positions being opened due to the reserved funds. In the long term, this could stop your bot from trading.
Copy the API Keys shown on Binance and paste them into https://ftb.fund/tokentact-review/. Then, save the changes on both Binance and TokenTact. Allow a moment for the bot to link everything together, and your balance should become visible. If you haven’t already, go to Binance’s website and create an account. Using different indicators or trading pairs might lead to constant trigger activations.
In fact, they have created a simplified drop and drag designer that allows you to build your automated bot from the ground up. You now need to tell the bot what you want it to do when the $10,100 trigger is activated. At this point, you have a number of options – both basic and advanced. For example, you could then instruct your automated bot to engage in a trailing stop loss. In layman terms, your bot can purchase $500 worth of Bitcoin every time it increases in value by 5%. One of the best benefits of using TokenTact is the flexibility is offers to traders of all experience levels.
Manual entries to a portfolio tracker are something of the past. Your Dashboard will show all the positions your Copy Bot has opened. When clicking on the base config you will be greeted with a big overview of everything, we will try to break them down in the same way here. I’ve been a TokenTact customer for a year and a few weeks.
TokenTact’s middle account tier is the Adventurer package. You’ll pay $41.58 per month for access to Adventurer package features. Start with a minimum deposit on any platform you use, and make a small withdrawal as a test.
Once you’ve done this, your TokenTact bot can then execute trades on your behalf. The IF’ part of the equation is the market trigger, and the ‘THEN’ part of the equation is what the automated bot should do when the trigger is activated. So now we’ve provided you with an overview of what TokenTact is, in the next section of our guide we are going to explain how the automated bot process works in more detail. Keep in mind that TokenTact itself isn’t an exchange — it’s a trading terminal that provides access to a range of markets. 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.
- Once a currency you own has been sold, your quote currency will be reserved to buy more of the same currency later on.
- But before we get started, let us highlight something that is key to get your Arbitrage bot up and running.
- Get a better overview of all your current assets and reserve these positions.
Your exchange connection is now ready and you can start trading. Create a unique name for your API Key, generate a strong API Passphrase, and select “Trade” to allow trading on your KuCoin account. No other API restrictions need to be enabled, and TokenTact will never ask for “Withdrawal” or “Universal Transfer” rights. Now, let’s look at what you need to let the bot perform DCA trades automatically. In the following OKB example, we show you how DCA is calculated and executed. Keep in mind that the calculations’ results slightly differ from what you see in the screenshots, due to the constant changes in prices on the exchange.
Check out the statistics of other users that use the same quote currency on your selected exchange. Get inspired by other traders’ sell triggers and selected currencies. TokenTact and TokenTact trading bots offer good-quality customer support services, with TokenTact offering live chat and email support and TokenTact email support only. As of this writing, none of the platforms provide phone support. In other words, TokenTact is a complete in-house solution that offers built-in bots instead of using 3rd-party cryptocurrency exchanges like TokenTact.
As mentioned earlier, TokenTact provides both fully automated and semi-automated crypto trading. Fully automated trading involves the robot carrying out all the investment research and placing trades automatically. Semi-automated trading, on the other hand, consists of the trading bot carrying out research and delivering tradable insights to the user.