Common Mistakes of Beginners
Let’s go through the most common mistakes made by new Veles users — and how to avoid them.
1. Launching a Futures bot without having enough supporting margin.
Section titled “1. Launching a Futures bot without having enough supporting margin.”There is a “Deposit” field in the bot’s editor, but this is only part of the amount it needs to work properly. It is critically important to give the bot enough supporting margin, otherwise the deposit will be lost quickly.
2. Not studying the help materials before starting trading
Section titled “2. Not studying the help materials before starting trading”Veles bots have many settings. A couple of questions in chat will not replace reading the documentation.
📌 Financial instruments require time to learn — otherwise, there will be no profit.
3. Using too large a bot deposit
Section titled “3. Using too large a bot deposit”Trading is a high-risk activity. Even experienced traders lose money, but they know how to control losses.
Beginners should not invest amounts whose loss would be critical. Think of the deposit as “tuition” at the start.
4. Ignoring bot errors
Section titled “4. Ignoring bot errors”Veles is an intermediary between you and the exchange. If the bot stops with an error, it’s important to check what’s happening on the exchange itself, rather than just restarting the trade.
A common mistake — launching a bot on an account that already has orders/positions for its trading pair.
5. Trusting scammers
Section titled “5. Trusting scammers”The crypto space attracts a huge number of scammers: fake “support” accounts, “urgent promotions,” “fund rescue from a failure,” and so on.
6. Running too many bots
Section titled “6. Running too many bots”If you can’t manually monitor all trades, the risks increase. Block settings require experience and may not work as expected.
7. Multiple bots for the same coin and direction
Section titled “7. Multiple bots for the same coin and direction”Running several bots on the same coin without block settings often leads to conflicts and losses, even if bot reports show “profitable” trades.
8. Launching Bots Without Understanding Exchange Basics
Section titled “8. Launching Bots Without Understanding Exchange Basics”Bots are a tool for automated trading, but they don’t make decisions for traders; they merely automate them. It’s essential to have a basic experience of manual trading to understand what you’re automating. Furthermore, there inevitably comes a time when manual actions are required on an exchange trading account. A responsible bot user should be able to confidently and quickly find this account, manually create, delete, or modify orders, and move assets.
To help you, there are numerous training materials available on the exchanges themselves, on video hosting sites, and also our free consultations, where you can go through the exercises recommended below with a help of our specialist.