To create a bot on Veles, you can:
- Use ready-made strategies from the main page of your Personal Account, the “Ready bots” section. The showcase of ready-made bots is regularly updated.
- Take the ready-made bot settings from the articles in our blog:
https://blog.veles.finance/en/ - Create a bot from scratch, click on the “Create a bot” button to do so.
If you open a bot from the showcase (as well as any other link), then you create a separate personal copy of the bot settings, which you can change at will. You need to choose a Binding to your API key on the exchange where you have an active account (since the bot could have been created for another exchange, and it is shown in the template). Sometimes you also need to specify the coin, deposit and leverage – after that, the rest of the settings will be taken from the template.
Then you need to save the bot and give it an informative name.
Then it is recommended to run a backtest of the bot to assess its profitability.
If everything is ok (look closely at Net Profit, MAE, unfinished deal), then you can release the bot to the stock exchange.
To edit a saved bot, click on the name of the bot, or in front of the bot on three dots, and then “Edit”.
If you edit a bot that has the status “Running“, then the new settings will be applied only after the bot completes the current trade, in the next deal.
To avoid confusion and to facilitate the diagnosis of problems, we recommend:
1. create a bot clone and give it a different informative name,
2. make all changes to the clone and save them,
3. stop the original bot,
4. and only then run the clone.
FULL LIST OF BOT SETTINGS
EXCHANGE: Specify the exchange where you have a valid trading account.
API KEY: Select the Binding to the API key that you created in advance, or create a new API key with the appropriate Binding.
ALGORITHM: Set the algorithm of the bot, Long or Short
TRADING PAIR: Select the coins of the trading pair. The first coin in the pair is called the “Base Currency”, the second is the “Quote Currency”. The stablecoin is most often used as the quote currency – USDT or USDC. If you are having trouble choosing, the pairs for which the most deals have been made in the last 24 hours are presented next to them.
If the pair you need is not in the list, write a request to Support and provide a link to the page of this pair on the exchange.
DEPOSIT: Allocate your bot a deposit for trading.
BALANCE: The amount of currently available funds on the trading account is shown here (you can not change this field). Based on this amount, you allocate a small part (!) of it yourself and write it in the “DEPOSIT” field – this will be the amount of funds that the bot can have to place orders, and it will not exceed it.
LEVERAGE: When trading Futures, you have access to a loan from the exchange. Your deposit will be multiplied by the selected leverage, and the bot will divide the received amount into orders. Trading with leverage increases profits, but also dramatically increases the risks of losses. When you are going to trade with leverage, first carefully study the recommendations from the section “Trading strategies and risks”. When liquidation is close, it is usually difficult to save the situation, to put it mildly.
Important! If there is already a coin position on the exchange, then the bot for this coin must have the same leverage in its settings. Otherwise, when opening a deal, the bot will set a new leverage for both directions (both Long and Short at once), and this will change the liquidation price of your old position (it may become close and get executed unexpectedly). This applies when trading on both types of margin (both Isolated and Cross).
MARGIN TYPE: When you trade with leverage, you borrow funds from the exchange, but it takes insurance measures for this – it calculates how much of your funds you poured into the position and applied for using as collateral, and based on this volume indicates to what level the price of your position can go in an unfavorable direction (lowest PnL affordable). If this price (the liquidation price) is reached, the exchange writes off the margin of the position and the collateral in its favor – and you no longer owe it anything.
In this case, if you trade on an Isolated margin, you lose the funds invested only in this position. And if trading on a Cross-margin, then your entire trading account + collateral may be lost (if you set it up).
TRADING MODE:
- Conservative
- Moderate
- Agressive
Veles bots belong to DCA bots. The grid of orders for operation can be calculated automatically, in the “Simple” mode. You can select one of the templates (Conservative, Moderate, or Aggressive), and the grid settings will be taken from the template. A “Star” indicates the recommended template.
You can also manually set each of the grid parameters if you switch to the “Own” trading mode.
Basic settings of the Trading mode:
- Overlap. This setting is responsible for the distance at which the last order in the grid will be placed from the first one. This is how you specify how many percent of the order grid will cover the price change.
- Grid of orders. This parameter sets the number of orders in the automatic grid. If you click on the “View Grid” button, you will see a potential grid of orders, as if the bot had entered the deal right now.
- Martingale. This parameter regulates by how many percent each subsequent order in the grid will be larger in volume than the previous one.
- Indent. The indent of the first order sets the percentage by which its price in the grid will be lower than the current one after entering the deal (Long algorithm), or how much higher than the current price (Short algorithm). That is, after receiving the signal to enter the deal, the first indent for the first order will be made, and then the grid will be stretched from it by the selected percentage of overlap.
- Logarithmic distribution of prices. This parameter regulates the distance between orders in the grid. If it is switched off, each order in the order grid will be located at the same distance from each other across the entire overlap of the price change.
- Pull up. There are situations when the bot has placed a grid of orders, and the price goes the other way – then the Pull up of the grid of orders comes to the rescue. When the specified percentage of the price shift is reached, the bot cancels the current grid and awaits for a new entry point.
Attention! If the first order has an Indent = 0 or “Market”, then the Pull up is completely ignored (but it still needs to be specified in the settings in order to be able to save the bot).
Important! When adjusting the Indent and Pull up, you need to take into account the following. If these parameters are specified too large, then too much time will often pass between placing orders and their execution (hours and even days are possible). That is, by the time the indented order can be executed, the indicators (filters) at the start of the bot will already show completely different values, undesirable for opening a deal! Check the time of placing and executing the first order if you find that the bot enters “to the wrong indicators”. - Partial placement of the grid orders. With this parameter, you specify the maximum number of grid orders on the exchange that will be placed simultaneously. When the order closest to the current price is executed, the bot places a new one from the queue calculated in advance so that their total number of orders on the exchange corresponds to the specified value.
Keep in mind that the real grid of the bot (both Automatic and Own) will differ from the mathematically calculated one – since the exchange has restrictions on the price step, on the volume step, indivisible coins (when it is impossible to place an order for 1.3 coins, but only for 1 or 2, and so on), and the bot must find a compromise between the requirements of the user and the requirements of the exchange.
STOP BOT AFTER DEALS COMPLETING: Here you can specify the maximum number of deals that the started bot must make, after which it will switch to the “Terminated” status. If this switch is deactivated, the bot enters into new deals in an endless cycle.
Note. If the bot is running a deal, and the user activates this setting and specifies “1”, then the bot considers the current deal as the “first” and will stop after it is completed.
INCLUDE A POSITION ON THE EXCHANGE IN A TRADE: An option that allows you to pass a futures position that is already present on the account to the bot. Either it was left after the bot stopped with an error, or from manual trading, and you want to close it at the signal of the indicator. Read more in our article.
STOP LOSS: A function to limit losses in a trade that did not go according to plan. Please be sure to read the article about this setting.
PROFIT: In this parameter, we set the target profit as a percentage, which will be set by the bot when calculating the price of the order completing the cycle (take-profit order). There are three modes to choose from – a simple percentage of profit (creates one limit order), the “Own” mode (trading by goals, closing in parts), the “Signal” profit (exit by indicator signal, closes a position with one market order). You can read more in other Wiki articles.
BOT START FILTERS: Filters, or technical analysis indicators, are calculated parameters, used to make decisions to enter (or exit) a trade. The set of available filters on the platform is constantly expanding.
You can read more about each indicator in the section Veles bot filters. Also use the “?” button in the bot editor to quickly navigate to the article about the desired indicator.
Use the “Calculate”/”Show signals” to view the calculated starting points for the filters you have selected.
BACKTEST (Analysis): Before launching any bot on the exchange (even a purchased one or copied from a showcase), it is recommended to run an “Analysis” (backtest) for it. This is a simulation of trading on historical data, a free and secure check that allows you to determine errors and the probable result of your trade in advance. The result of a backtest contains a large amount of information, and it is important to be able to understand it correctly. Address your questions to the Support or in the Community chat so that you don’t miss anything important!
VIEW GRID: This button opens a window where your calculated grid orders will be shown relative to the coin price chart. The grid of orders will be displaed not from the calculated entry point according to the indicators, but from the current price of the coin, but you can estimate its overlap, the distance between orders, the final average price after the execution of the entire grid of orders, as well as the location and size of the stop loss (if it is present in this bot). Each order must have a label with a price (red or green) and a volume (a number on a black background). If the volume is not specified for any order (or all of them), it means that the bot will not be able to create such an order and will stop with an error (“Insufficient order volume”). You can use zoom function on the graph in order to see more or less orders.
CREATE BOT / UPDATE BOT: Only if all the necessary settings are specified (for example, “Pull up” or “Filters” in the “Profit-> Signal” section are not missing), a button is displayed in the editor to save them. The bot must have a unique name.
To rename an existing bot, open it in the editor and immediately save it, without changing the settings, but changing only the name.
NOTIFICATIONS OF THE BOT’s WORK
When launching the bot on the exchange, make sure that you have set up notifications in your personal cabinet, to do this, go to the Notifications section.
We described the setup process in a separate article.
After connecting, Telegram will receive alerts about deals for all bots. It is recommended for beginners to receive all available alerts, and later some of them can be disabled.
BOT CARD ON THE MAIN PAGE
After the bot has been successfully saved, the corresponding Bot Card will appear in the list on the main page of your Veles cabinet
https://veles.finance/cabinet
The detailed description of the bot card please see in our article.
What is the meaning of the current bot status, please read our material.
