TokenTact offers a limited selection of portfolio management options. At its core, TokenTact provides high-level performance metrics for portfolios. Simple stats such as monthly or daily performance can https://privatobank.com/tokentact-bot-review/ be found scattered throughout the UI. Trailing Stop Loss – This works in the same way as a standard Stop Loss order as they both allow you to minimize your exposure to losses when prices decline.
For this, you can customize your own bot, or simply follow the trading strategies of a bot created by another user. If you want to utilize automated bots within your trading strategy, then the cheapest package available is the advanced package. At a cost of $37 per month, you’ll have direct access to the TradingView pricing signal feature. So now that we’ve covered the basics, in the next section of our TokenTact review we are going to explore how the automated trading bots work in more detail. In fact – and as we will discuss in more detail further down, the capabilities of your custom trading bot can go far and beyond just market orders. On the contrary, the underlying technology supports short sells, stop loss and take profit orders, trailing orders, composite bots, and more.
Alternatively, TokenTact also offers a free trial, where you get to test out the paid-for plans without providing any payment details. Much like in the case of the free plan, the starter plan comes with most features apart from the ability to use automated bots. In fact, the only difference between the two is that the starter plan comes with error and cancellation notifications. As such, you’ll want to pick an automated bot with a reasonably long track-record of netting consistent profits.
This is an excellent feature for traders who use more than one crypto exchange and want to have one comprehensive view across all exchanges. Options trading has a variety of strategies and is often reserved for only advanced traders. However, with TokenTact options bot users can set up complex options trading strategies like Long straddles in just a few clicks. There is a free version, a starter pack for $14.50 a month, an advanced version for 24.50 a month, and a Pro version for 49.50 a month. The primary difference in the tiers is the access to type and quantity of trading bots. TokenTact focuses on swing trading, day trading, signals, and algorithmic-based trading bots.
- The bot can then be personalized to get a more conservative, moderate or aggressive strategy.
- On top of it all, there are three plans offered with features increasing with the price.
- We use dedicated people and clever technology to safeguard our platform.
- For enterprise partners, there is a revenue sharing model with success-based fees charged in addition to the monthly subscriptions.
The help section and FAQs were also easy to navigate and find all sorts of useful information. Until the unfortunate API leak, TokenTact was thought to be safe and perfectly secure as it only interacted with user funds via user API keys with no withdrawal functionality. Furthermore, this review does not attest to the performance of the TokenTact platform, nor is it a formal endorsement. Readers should keep in mind to do their own due diligence and research regarding any investment decisions. Setting up an account doesn’t require any added documentation, and you simply need to use your email credentials to do the same. Also, if you prefer the app format, TokenTact lets you install the same on the Android (Play Store) and the iOS (App Store) ecosystem seamlessly enough.
As the market goes up or down, a DCA bot can make profits by buying at specific prices and then selling the bumps. Paper trading is the ability to mimic trading moves without using real money. TokenTact has created this mock trading environment inside of their terminal so that users can create, test and optimize their bto trading strategies without putting real money at risk right away.
A free plan, a starter plan ($14.5/month), and a pro plan ($49.5/month) are available for users. The plans include TradingView integration, free access to the mobile app, tracking all crypto accounts from a single portfolio, and more. By following these steps, a trading bot can be configured in just a few minutes, and the entire process is simple enough for more novice crypto traders to follow successfully.
For example, let’s say that you want to trade BTC/USDT at Binance. With Bitcoin currently priced at $10,000, you decide to program your trailing order to exit the trade if it loses 10% in value. Much like in the case of a conventional stop loss order, the SmartTrade protocol will close your trade if the price of Bitcoin goes down by 10%. Once you have the required credentials, you then need to head over to the “My Exchanges” section of your TokenTact account, followed by “Connect to a new account”. Finally, paste in the API key that you extracted from your chosen exchange. Once you’ve completed the above, you have successfully given the TokenTact platform permission to execute trades on your behalf.
Additionally, TokenTact does not route activity through their servers but works directly on the exchanges. Both of these facts play a major role in increasing the safety of TokenTact as hackers have no incentive to hack your account since they won’t have much benefit out of it. TokenTact has a free trial to test out their platform and that trial is limited to 3 days only, which is pretty low in comparison to the 30 days that TokenTact offers. You can choose the trading pair for the bot to trade from the drop-down menu, and you can then instruct the bot how much of your preferred currency will be used during your initial trade. You can have an overview of all your exchanges and coins you own while also having an option of automatic rebalancing of your portfolio. I lost 4K Euros due to these freaking clowns having a security breach and revealing users’ APIs to hackers (You can Google the incident Dec. 2022).
To begin, you can create market or limit orders, as well as a price precondition that must be fulfilled before a market or limit order is executed. You can also make a trailing buy or sell, which buys or sells a currency pair repeatedly anytime a price condition is met. TokenTact’ full version is only accessible with a monthly subscription fee.