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Trading bot technology is a blessing to the cryptocurrency trading market. No trader can look at hundreds of indicators simultaneously. Similarly, no trader can place dozens of orders in a second. However, trading bots can.
Kaktana is one of the popular trading bots in the crypto trading market.
Kaktana is a highly configurable trading bot that enables users to define their investment strategies. This bot trade automatically based on the user’s present conditions of entry and exit.
Katkana’s "turtle" trading strategy is one of the simplest and most profitable trend-following bot strategies. According to this strategy, users should buy when the current trading price of the cryptocurrency is higher than the maximum of the highs of the last 30 candles and sell when the current trading price is lower than the minimum of the closes of the last 20 candles.
Features of Kaktana Trading Bot
Kaktana enables users to leverage the power of past data. The users can run their strategies through the past market status to identify if they are effective. This strategy improves the user’s trading strategies by eliminating both technical and theoretical errors in the strategies. Backtesting helps the user to gain confidence in their strategies before applying them in the real world markets.
Kaktana enables the users to customize their automated strategy without a line of code. The automated strategy has many benefits such as improved order entry speed, elimination of emotion, consistency, and diversification of trading.
Kaktana bots are designed in such a way that they send a notification to the users of any action through email or Telegram. Therefore, the users are not left gazing on what activities are going on in their accounts. As the bot conducts the trade in the absence of the user, it sends the notifications.
Kaktana provides an intuitive strategy editor that helps the users to build their trading strategies. Users will have access to over 110 indicators including EMA, Bolinger Brands, SAR, RSI, ADX, and Stoch. These indicators work to maximize users’ profit.
Kaktana employs a trailing stop strategy, which is a combination of risk management and trade management. This strategy helps in locking profits on trades while also capping the amount that will be lost if the trade does not work. The bot automatically raises the user's stop-loss price.
The bot also employs a trailing buy strategy whereby it buys as soon as the trend reverse by the specified percentage set by the user
Kaktana also offers concurrent stop loss and take profit strategies. Another smart tool that comes with the bot is DCA market making. This strategy lowers the user's risk by placing multiple buy orders. If the price falls, the bot will continue buying to lower the average buying price.
According to the bot developers, Kaktana was designed to provide users of all levels with access to the best trading tools in the market. Users of different experiences can comfortably use this bot.
The website is also user-friendly and has an explanation for every feature. There is also a learner section on the website to help the beginners. Kaktana also offers both pre-made bot strategies to help starters who might not have the skills to code their bot strategies.
The bot is barred from accessing the user's funds hence it can neither withdraw nor deposit funds. The users keep their funds with the exchanges of their choice.
The bot can only perform transactions but the balance remains with the exchange. The bot also has restricted access to the user's account with the exchange. The bot also uses hashed password meaning that no one can read the user's password, not even the bot designers.
Kaktana also encrypts the user's keys to ensure that only the software can read the keys. This bot also uses TLS tunnels to allow the users to safely access their services wherever they are.