The second half of the position remains open with a current unrealized profit of $75. To calculate the P&L of a rule, we need to consider both trades that are closed and those that are still open. It is important to calculate properly the P&L of a rule to give us an idea of the actual value added by launching a specific rule. Traders must calculate profit correctly to understand the overall profitability of their trading as a whole. Bullish and bearish engulfing are useful patterns that can help you catch trend reversals. They are more effective on higher time frames, such as 1-hr or 4-hr.

The company is backed by a group of Angel investors and MKB Bank, a leading financial institution in Hungary. The monthly paid plans range between $0 to $449.99 for a Pro version of the platform. All the costs are subject to a discount for those choosing an annual subscription. Finally, choose how many times you want the rule to trigger and name the strategy. Here is the chart of MATICUSDT perpetual on Binance futures, on the 1-hr time frame, as an example. At the top of the page, you can select Indicators and Strategies to apply to the chart.

TokenTact supports a diverse range of over 80 cryptocurrencies and assets — a substantial selection. In contrast, TokenTact boasts an extensive range of supported assets, exceeding 10,000, making it one of the most comprehensive. As shown in the example, we configured a rule that will promptly buy the asset that has a price change of more than 5% and a volume increase of 500% in the last 3 hours. When the condition is met, the algorithm will send a buy order of 100 USD worth of that coin to the exchange. Therefore, to calculate the P&L of a rule, the system considers both closed and open trades.

Create Bot with TokenTact today to manage your coins BTC every moments. Thanks, yes runnign the rules on the demo exchange is the first step to verify if you strategy could work on the current market before going live. Succeed in the crypto markets with crypto trading software for exchanges and trade like a professional with TokenTact. To be able to connect TokenTact with your Binance account, you will need to create an API Key that will allow you to create an automated trading bot on Binance.

The story goes that TokenTact started as a homemade trading bot. The two brothers responsible went on to shape it into a multifunction trading machine. They released it to the public in 2017 and it mushroomed from there, both in popularity and technologically. Maybe you bought the breakout, and you are waiting for the right moment to take profit or completely close your position depending on the timeframe of your strategy. Or you could protect your wallet from drawdown if the price crosses a long-term moving average on high volume.

• TokenTact operates on the principle of “If-This-Then-That,” enabling users to set up automatic trading rules that run 24/7.
• Please bear in mind that trailing stops are not guaranteed to execute and can be subject to slippage.
• ​Once the candle closes, and the RSI is confirmed, that is valid until a new candle closes.
• Remember, technical indicators are not perfect tools, and they shouldn’t be either.

As a tip, to make the results more realistic, select the settings and include the fees you expect to pay on the exchange. Altcoin scalping in a downtrend is a very handy strategy that helps turn adverse market conditions into an opportunity to accumulate more of your coins. ​When the asset is trending in a steep downtrend, buying the dips may remain stuck with a position in loss for a while. This strategy helps you catch the dips on assets that are not signalling signs of weakness yet.

TokenTact is an easy-to-use automated cryptocurrency trading tool. Compared to other platforms, TokenTact is simpler and more user-friendly. If the conditions don’t align, the predetermined trade doesn’t occur. Users have the flexibility to choose from existing templates of trading strategies or craft their own based on personal strategies. Each template follows the format where a certain market event (A) will trigger a specific trading action (B). The platform is dynamic, with fresh trading indicators introduced regularly, allowing for greater customization.

Trading can be practiced, rules created and improved at trading cryptocurrencies. Based on your level of experience, you may need to go through an extensive learning process to master the art. Staying patient and gaining more knowledge may help you become a better trader and achieve more profitable trades in the crypto market trading. Figure 1 shows the interface of the mainpage of the https://privatobank.com/tokentact-bot-review/ bot, while figure 2 shows an example of an instruction given to a bot.

Botfolio’s pricing depends on the trading value users have per time. Besides this, they charge a fixed quarterly performance fee of 15%  on profits. This is so because building a bot requires advanced knowledge of programming. If not done properly, the bot would not execute rules as it should, leading to trading losses. Good thing is that there are a number of startups, like TokenTact, that have built bots that can be used without needing to know how to code.

Learn how to build an automated strategy to trade with Ichimoku Clouds on TokenTact with TradingView signals. To request the consent of TokenTact for any of the actions for which such consent is required under these Terms of Use, please send an email to support[at]TokenTact.com. TokenTact reserves the right to refuse any such requests in its sole discretion. On the Exchanges page of TokenTact, select Bitmex from the list of available exchanges. All you need to do is to copy and paste the API and Secret keys.