There is a small channel with 64 members (and growing) on the CryptoTact Reddit community yet and you’re more than welcome to make it larger! Recently they announced via Reddit a product called Steroid Leverage which worth checking. It’s well-fed with frequent web content and also shows transparency in its messages and interactions with its audience/community. The group brings a mix of design and also trading proficiencies right into the product. Our CryptoTact Review will aid you to figure out if it is the appropriate platform for you. For the rule to trigger, the price would now need to increase by 10% from the new Trailing Order Price of $1,150 and reach a price of $1,265 before the order triggers.
If you had set up a normal stop, say at $45,400, your position would have continued to drop, ultimately leading to a loss. Looking at the price chart you can verify when the rule should trigger. For the above condition to trigger, the price increase by 5% ‘WITHIN 15 minutes’ would have to happen within one 15 minute candle. It’s important to underline that the price reference updates only when execution happens, which means that if the price never reaches the first price target, the strategy will not start. You will need to edit the parameters or relaunch it in that case. Then, select the proper option to start the API Key creation process.
CryptoTact works with Binance, Coinbase Pro, OkEx, HitBTC, Bitstamp, Bitpanda pro, Kraken, Poloniex, and BitMEX. Once configured, trades are placed on your exchange (CryptoTact supports a good number of well-known international exchanges). You can choose to use the existing automated rules on the platform or create your own.
The Rules tab is the home page, showing all the IFTTT rules investors can use to implement their own automated trading rules and processes. Users can also select between demo and live trading here, set their preferred exchange, select the coin(s) they want to trade, and even set a ‘Buy’ or ‘Sell’ order. https://cryptotact.co/ offers built-in trading templates to automate and your trading strategies. They provide a Demo exchange to test your coding strategies before implementing them in live exchange. To buy or sell, you might be waiting for the breakout time and might end up in a loss if the trend reverses. To avoid that, you can set a price condition to activate the rule and then wait to confirm that move.
If you are not happy with the results, you can further tweak it and configure indicators to your liking. The difference between the results of a Demo versus a Live rule sits mostly in that. How significant is this difference depends on how many trades the rule executes. The more trades the strategy generates, the higher may be the difference in the results. Usually, the main difference between testing a strategy in a demo environment and a real trading environment are the emotions involved that risk to take control of your rational side when real money is involved.
- Thus, when creating the rule, it is vital to consider contract size to avoid unintentionally opening large positions.
- That saves a significant amount of time when you want to rebalance your portfolio manually.
- Users can also create their own automated trading rules if they don’t see a template to fit their desired trading strategy.
- There is no need of accessing your wallet on the exchange to buy or sell coins as you can do that directly on CryptoTact.
What are the best trading strategies you could use to take advantage of the opportunities the market offers every day? Is there any technical indicator that could prove to be particularly useful? You only need to select the coin to buy or sell and the base wallet to use for the transaction, the bot selects the trading pair automatically and sends out the instruction as a market order. That saves a significant amount of time when you want to rebalance your portfolio manually.
This aids in avoiding liquidation; however, in the event you are liquidated, you risk losing all your funds. – Ation 4 Sell ETH at 220 (200 + 10%) fails because all the coins were sold in the previous action. For example, when you use the operator “Any Time” and you sell 100% of the total balance of a coin, it possible to run out of coins to sell. Anyone interested in using the platform can always sign up for a free Starter account and test it out in order to figure out if opting for a paid subscription will be beneficial.
Overall, the profit calculation in CryptoTact is designed to portray the real value that CryptoTact adds to one’s wallet while trading. The total profit on the dashboard gives a trader an overall idea of his performance while trading. Having a proper profit calculation allows traders to reassess their strategies’ success or failure and adjust accordingly. The user has profited; however, since the action was not part of the rule, the system does not record the sell action.
Besides making the UI basic as well as pain-free, CryptoTact also provides documents for you to use its services quickly. While some components of the paperwork are remarkably created, others are not as upgraded as they must be. This is just one of the unusual crypto platforms that haven’t cleared up among the preferred tax havens nations, like Bahamas, Malta, etc.
That’s why CryptoTact incorporated error mapping for the PDT limitation on CryptoTact. If you ever encounter this error while setting your rules, CryptoTact will alert you, ensuring you stay informed and avoid potential account restrictions. For those who are just dipping their toes into stock trading, Alpaca Paper Trading is also available on CryptoTact. This simulation environment allows users to practice trading with virtual money, giving them a chance to learn, refine, and perfect their strategies before going live.
When you are ready to switch to a live exchange, you can do that in just a few clicks. This is a guide to learn how to backtest strategies on Tradingview. You can use Indicators such as RSI, MACD, Bollinger Bands and all other TradingView Indicators with CryptoTact. You can specify the values of the indicator that will activate the signal.
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