After the bot stops with any error, you need to go to the exchange and check the status of the trading account – balance, positions and orders, trading history. Do not focus on the message alone, be sure to personally check the trading account.
Insufficient balance in the service
Insufficient order volume
Insufficient balance
Limitation of leverage
Type of margin cannot be changed
Your position has been liquidated
Position does not match to your settings
Incorrect API key
Orders canceled by a third party
Position reduced
The limit of orders has been exceeded. The contract limit has been exceeded.
The order price does not meet the requirements
Trading in this pair is prohibited by the settings. Please add the trading pair to the Whitelist.
Unknown error
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INSUFFICIENT BALANCE IN THE SERVICE
Funds are needed for the bot to work
- on an exchange trading account – for placing orders,
- on the balance of the Veles service – to pay the bots’ commission for profitable deals.
The bot checks the balance in the personal account at startup https://veles.finance/cabinet/account/balance. If the balance is greater than zero, the bot is working. If the balance is zero or negative, the bot issues this error.
To solve this, you need to top up your Veles balance. How to do this, we described in this article.
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INSUFFICIENT ORDER VOLUME
There are restrictions on the minimum volume of an order placed on exchanges. It is different for different coins and exchanges and changes periodically. You can refer to the documentation of your exchange for verification (section “Trading rules”, Spot or Futures). Increase in the price of a coin can also cause this error – the allocated deposit ceases to be enough for an order.
When the bot is running, the deposit you have allocated to it is first multiplied by the leverage (for a Spot, you don’t have to multiply, leverage = 1), then divided into smaller parts – into orders in the grid, and then again – into multitakes (profit-taking orders). That is, to check for compliance, you need to calculate the volume of your first order in the grid (we assume the situation that the price allowed only this one order from the entire grid to be executed) and divide it into your multitakes. Each of the received multitakes must be larger than the minimum volume set by the exchange. Otherwise, the bot issues an error.
This message comes from the exchange, so please use the solutions listed below:
- take a cheaper coin (for example, BTC, ETH, BNB, SOL – coins with increased requirements),
- reduce the number of orders in the grid (the “Grid of orders” parameter),
- reduce the Martingale %,
- enlarge multitakes (make them smaller in number, but larger in percentage),
- increase the bot’s deposit.
The Analysis tool (backtests) does not require real funds in the trading account, that is, you can specify a deposit that does not exist.
But when checking the launch conditions, the bot must make sure that the exchange’s requirement for a minimum order is met for all coin prices that were in the testing period.
If this error is shown in the backtest, it means that somewhere during the testing period the price of the coin was such that the bot with the current deposit on it would not be able to start.
Example.
Bybit Contract Trading Rules:
https://www.bybit.com/ru-RU/announcement-info/contract-detail/?type=Perpetuals&standard=LinearPerpetual
Let’s say the minimum order for Bitcoin is 0.001 BTC.
So, we need to calculate the USDT equivalent for 0.001 BTC.
With a Bitcoin price of 64,000 USDT, this will amount to 64 USDT.
These are the minimums that each take profit from the first order from the grid should be greater than. Pay attention to both the amount in USDT and the amount in coin – both limits are important.
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INSUFFICIENT BALANCE
On Futures:
There was not enough funds on your exchange account to place one of the grid orders of the bot. This happens if the deposit ratio for all running bots to their supporting margin is incorrectly calculated.
You need to top up the balance on the exchange and start the bot again.
After that, the bot will pick up the position and the old orders, place the order on which there was a shortage, and complete the deal.
https://help.veles.finance/en/how-to-restart-the-deal/
Study the trading recommendations from the article:
https://help.veles.finance/en/how-to-reduce-the-risks-of-leveraged-futures-trading/
Please note:
at the moments of price falling on futures, opened negative positions take away the free margin from your trading account, up to zero, and the bot stops with such an error. The price goes back – the margin is returned to the balance, and the user believes that the funds were on the exchange, but the bot worked incorrectly. But this is not the case, there really were no free funds in the account, and the bot stopped.
If the bot is set to exit on a signal or multitake – that is, it closes the position with a market order, then because of such a fall into error, it throws the deal and misses the moment to exit (when the price returns from the failure to the desired level).
On the Spot:
It is also possible that the bot did not have enough funds for a grid order because of the price falling – if you have a Unified Trading Account, and the deposit of the spot bot and the margin for futures bots are taken from the same balance.
There is also a feature on the spot – the exchange commission for trading is debited in the base coin. That is, the bot buys a TON for USDT (and the exchange immediately takes the commission in TON), then bot creates a sell order for a TON, but discovers that there is less TON left in the account than it bought. And it stops with the error “Insufficient balance”. Therefore, when trading on a Spot, you need to make preparations – buy in advance some coin for the bot (1-2 USDT equivalent), and do not use it in trading.
We have told you more about exchange commissions in this article.
If you trade on Binance, it is recommended to purchase a small amount of the native BNB token and restart the deal.
The trading commission will be debited and the allocated deposit will not decrease.
It also gives a 25% trading discount on Spot and 15% on Futures.
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LIMITATION OF LEVERAGE
The error is associated with the limitation of the maximum leverage of the exchange.
To resolve this, reduce your leverage and run the bot.
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TYPE OF MARGIN CANNOT BE CHANGED
Veles bots can trade on Cross and Isolated margin. The exchange allows you to switch the margin type on the account if there are open positions, but not in all cases. The conditions for switching the margin type on a trading account should be viewed in the exchange documentation.
Important! It is the user’s responsibility to ensure that bots with different margin types do not log into the same trading account. Since in a situation where there are several positions in drawdown on the cross margin, and the new bot switches the margin to the “Isolated” type, the old positions may suddenly have a very close liquidation price and it will work.
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YOUR POSITION HAS BEEN LIQUIDATED
This means that you have launched a futures bot, the price has dropped (if the bot is Long) or risen (if the bot is Short) to the liquidation price, and the exchange has launched the liquidation process. During liquidation, your futures balance may be written off in favor of the exchange down to zero.
- If you had a cross margin, then the futures balance could be written off completely.
- If you had an isolated margin, then only the bot’s deposit is debited (sometimes a little more).
In general, the liquidation of a futures position is a process of several stages. Sometimes the liquidation of a position includes only the cancellation of orders and partial reduction of positions. A full description of the process should be studied in the documentation of your exchange. Remember that trading in futures carries certain risks. Wisely allocate your capital and follow risk management recommendations.
It is noted that when trading on an isolated margin, the exchange launches liquidation before the position reaches the calculated liquidation price – with a margin (made at the expense of traders) so that the closure of a mass of positions during cascading liquidations does not bring losses to the exchange itself.
There may also be situations when liquidation occurred on the exchange – but the bot perceives this situation as “Orders were canceled by the 3rd party” or “The position was reduced”.
We told you how to avoid liquidation of the futures bot in this article.
The bot can also send this error if the user closed a position on the exchange manually, but did not cancel the active deal of the bot before that.
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THE POSITION DOES NOT MATCH TO YOUR SETTINGS
Bots require a Hedge Mode on the exchange to work. The bot checks and switches the mode at startup, but switching is possible only if there are no open positions and orders on the account.
You can manually activate the Hedge Mode on the exchange.
Please follow the instructions from the article.
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INCORRECT API KEY
The error indicates that the API key has probably expired. In this case, it is recommended to recreate the API key either with the option “Connect to a third-party application” -> “Veles”, or with a prescribed list of allowed IP addresses. In this case, the key is created with no expiration date, permanent.
- Delete the old API key on the exchange.
- Use the instructions in the section
https://help.veles.finance/en/?s=create+a+key
for your exchange to create a new key. - Then you need to edit the Binding in the appropriate section of the Veles personal account, setting the data of the new key in it.
- After that, you can restart the bot’s deal in Veles (start the bot via the card on the Main page and select “Restart the deal”).
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ORDERS CANCELED BY A THIRD PARTY
This error means that the order or orders placed by Veles were canceled by someone or something, but not by the bot. They could have been canceled accidentally by you, by another application, the exchange also sometimes cancels orders itself.
Unfortunately, we have no information about why the order was canceled (it may also still remain on the exchange, but the exchange does not share the information about it for unknown reason).
Information about orders can be obtained from the support service of the exchange.
If you canceled the order yourself, by accident, then the deal can be restarted (click on the Main page on the bot “Start”, select “Restart the deal”). The bot will recreate the order and continue to maintain the position.
If you did not cancel the order, then in the case of trading on Futures, follow the instructions to solve the problem:
1. make sure that nothing is linked to this exchange account via the API, except for Veles,
2. set up a position lock for the exchange in your Veles profile,
3. go to the exchange terminal (Derivatives section),
4. check for orders and positions (Positions, Current orders),
5. cancel orders for this position (if any),
6. the position must be closed manually – either with a market order, or create a limit order and wait for its execution,
7. evaluate changes in the balance of the trading account – you may need to reduce the bot’s deposit,
8. only after the position is closed, you can restart the bot.
On Futures, this error also occurs in case of liquidation (because the Take Profit order is canceled, the bot detects and reports it). Please check your mailbox – the exchange notifies you if this happens.
In the case of Spot trading, you need to
- make sure that nothing is linked to this exchange account via the API, except for Veles,
- go to the exchange terminal (Spot section),
- check the status of your assets, what is available,
- if there are enough funds to continue trading, the bot can be started again, select “Restart the deal“
- the bot will pick up the accumulated volume, recreate the orders, and continue to conduct the transaction.
If you do not need to continue the deal, you need to keep a record of the average purchase price of the coin (indicated in the bot messages after each order is executed). You will need to know the purchase price when you place a sell order.
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POSITION REDUCED
The position of the bot has been reduced (or completely closed) by someone or something, but not by this bot. Therefore, the bot placed an order according to calculations, but finds that the position does not match it. This happens, for example, if several bots are launched on the same coin in the same direction, and lock by position is not enabled. Or when the user closes the position of the bot with on the exchange manually. Or liquidation takes place on an isolated margin.
To solve the problem, you need to:
- set up a lock “By position” in your Veles profile.
- Then go to the exchange, find a position and orders for it.
- Cancel orders manually.
- The position (if any) must be closed manually, either by market order, or create a limit order (and do not launch bots on this coin until the position is closed).
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THE LIMIT OF ORDERS HAS BEEN EXCEEDED
THE CONTRACT LIMIT HAS BEEN EXCEEDED
- This error occurs if the limit of orders on the bot’s subaccount is exceeded (for example, no more than 200 – and if a lot of bots are running, then the limit is spent).
- It may also turn out that the limit on the maximum order volume for a coin has been exceeded. You need to check all orders in your grid and take profits for compliance with the limit.
- There may also be such an error if you have not completed the KYC (confirmation may take up to 24 hours).
- Try to switch to the bot’s account/subaccount, switch to Futures and manually place an order on the exchange in the terminal. The exchange will tell you what is wrong.
- If it works, delete and create again the API key and the corresponding Binding.
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THE ORDER PRICE DOES NOT MEET THE REQUIREMENTS
This error means that the bot cannot place an order in the grid, as it is too far from the current price of the asset.
For example, now it is impossible to place an order for BTC at the price of 15,000 USDT per coin, since this is more than 50% of the current price (the maximum available shift is indicated in the Rules of trading on the exchange).
Try changing the grid of orders, or reduce the “Partial placement of the grid of orders” parameter so that they are placed sequentially.
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TRADING IN THIS PAIR IS PROHIBITED BY THE SETTINGS.
PLEASE ADD THE TRADING PAIR TO THE WHITELIST.
This is a limitation of the API key on the exchange.
Try to switch to the exchange under this account and place an order for this pair, you may need to accept a risk agreement.
Or you need to make sure that this pair is on the “White list” in the API key settings on the exchange (if you created and configured it).
The problem may also be related to copytrading. We do not limit the copytrading itself in any way, but the API key works differently in this case, and this is not supported in our bots.
This problem may also be detected if “Portfolio Margin” mode selected on the exchange in the account settings instead of “Cross margin”.
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UNKNOWN ERROR
You will need to contact the technical support department to pass the error to the development department for further solution.
Please always provide also the exchange name, bot ID and deal ID (IDs can be found in the Telegram notifications at the bottom of the message).
Or create a request in this form.
Write to the Community Chat in Telegram or in personal messages of the Support Account in Telegram.
