VELES FINANCE. Who are we and why are we here?
Hey! You probably have a lot of questions. We are here to answer them and explain everything.
We are a platform for people ― VELES
A simple and convenient platform for creating bots for the cryptocurrency market for those who want to trade, but not to spend all their free time.
Our bots can connect either to a spot or futures trading account. On the spot your bot trades coins, and on futures bot trades contracts for coins.
We recommend all beginners to start with spot trading, it is easier to understand and safer.
What kind of bot is it? How does it work?
Successful deal (or trade, or transaction) looks like “Buy when it’s cheap – sell when it’s expensive” (trading algorithm Long). Or in the opposite direction: “Sell when it’s expensive – buy it back when it gets cheaper” (trading algorithm Short).
To make a deal on the exchange, you need to place a group of relevant orders. First, these will be orders to open a deal, then orders to close it. When all orders (both opening and closing) are executed in full, for the entire planned volume, the deal is completed.
An ordinary trader selects an asset to trade, determines the desired price and amount of the asset to buy (or sell), creates the appropriate order manually through a dialog box on the exchange and waits for its execution. He must also take care of the proper closing of deals – sell (or vice versa, buy) an asset with a profit, or with an acceptable loss (if the deal did not go according to plan). To do this, trader must place separate orders on the exchange. And we also add that the asset can be purchased in parts, and sold in parts – for all these actions, separate orders are needed, placed on time…
And all this can be entrusted to exchange bots today. You create a strategy in advance, flexibly define a set of conditions for entering, running, and exiting a deal. Then you test your strategy on a simulator (“Analysis”, or backtest). And only then – when everything is fine – you release your bot to a real trading account.
Our little minions can work with both a single order and a grid, according to the Martingale strategy. Does it sound complicated? Don’t worry, we’ll try to explain everything in simple words! Bots closely monitor their indicators (these are special parameters calculated using formulas) in the cryptocurrency market. And if the indicators are triggered (for example, they are configured to show a drop in the price of a particular coin), bot buys off this downward movement. This is where the strategy begins to work: the bot calculates the volume of each next order so that it is higher than the previous one. This is called “cost averaging“, and it allows you to reach the profit point before the price returns to the level where the current trade started.
Like in this deal:
Please note that the opening order “Buy 1” occurred at a price higher than the one where the closing order “Sale” eventually took place. But thanks to cost averaging (orders “Buy 2”, “Buy 3”, “Buy 4”) we nevertheless made a profit of 1.39% of the invested deposit. This deal lasted for 2 days.
Why bots, not real people?
Well, first of all, the future has already come and it’s time for robots to work in our place. And secondly, bots work tirelessly 24/7 ― they automatically search for entry points in the market according to the filters you set. They save your money by keeping within the framework of a preconfigured strategy and the balance allocated for trading. But most importantly, bots save you time and earn money while you are busy with something more important.
They have no emotions, greed and fatigue, unlike humans, they are always calm and impartial. VELES bots will repeat the configured cycle day after day and will not leave the route.
On the Veles homepage you can see a list of all your bots, on the Active Deals page you can track current deals. The range of options to manage is regularly expanded, increasing the reliability and convenience of the service.
We took on all the most difficult work and laid the necessary strategies in advance as the basis for the behavior of bots, and made a convenient template for you. All you have to do is choose a strategy to suit your needs ― conservative, moderate or aggressive. It will take you no more than 3 minutes to launch the finished template.
And if something is unclear, our Support is ready to answer your questions in the Telegram Community or in a direct chat.
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Frequently asked questions
