Common Mistakes of Beginners
Let’s go through the most common mistakes made by new Veles users — and how to avoid them.
1. Not studying the help materials before starting trading
Section titled “1. 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.
2. Using too large a bot deposit
Section titled “2. 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.
3. Ignoring bot errors
Section titled “3. 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.
4. Trusting scammers
Section titled “4. Trusting scammers”The crypto space attracts a huge number of scammers: fake “support” accounts, “urgent promotions,” “fund rescue from a failure,” and so on.
5. Running too many bots
Section titled “5. 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.
6. Multiple bots for the same coin and direction
Section titled “6. 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.