Currency of profit

Now Veles users can choose the profit currency. It is important, that this option is only available on the spot market.

How does it work?

When you make a trade, any trade consists of Base/Quote currencies. For example, ETH/USDT, here ETH is the Base and USDT is the Quote.

If you select ‘Quote’, then the bot will profit in USDT.

If you select ‘Base’, the bot will profit in ETH.

Let’s go through 4 classic trading examples.

Let’s start with example number 1 – profit and build-up in Quote. In case of Long strategy, we buy 1 ETH at 1000 USDT and sell for 1500 USDT – our profit is 500 USDT. In case of Short strategy, we sell for 1500 USDT and buy for 1000 USDT and our profit is also 500 USDT.

Let’s move to example 2 – profit and build-up in Base currency. In case of Long strategy, we buy 1 ETH at 1000 USDT and sell for 1500 USDT 0.666 ETH. Our profit is 0.334 ETH. In case of Short strategy, we sell 1 ETH for 1500 USDT, buy 1.5 ETH for 1000 USDT and our profit is 0.5 ETH.

Experiment together with Veles!