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What do these terms mean?
Trading words and Veuby words in plain English. Open to everyone, no login needed.
- API key
- A key you create at your exchange that lets software read your trades and trade on your account.
- Backtest
- A test that runs a bot on historical prices to see how it would have done. Backtests are shown separately from live results and don't reflect actual trading.
- Bot
- A trading program that is part of Veuby's software. You choose which bots you use.
- Calculated annual return
- A result converted to a yearly rate. The period and method are always shown with it.
- Copy of the bots
- Your own copy of the bots you license. It runs separately from other customers' copies of the bots and makes its decisions within your limits.
- Credit
- A losing month's result, carried forward and deducted from later results before any outcome-based fee is charged. A credit is never paid out.
- Custody account
- An account where a custodian, not the exchange, holds your assets. The exchange gets a trading line against that balance, so your copy can trade while the money never sits at the exchange. You choose the custodian. Veuby supports custody accounts alongside ordinary exchange sub-accounts; if you are unsure how to set one up, ask us and we will walk you through it.
- Exchange account
- Your account at a crypto exchange or broker. You open and manage it, and your money stays there.
- Fee base
- A month's trading result minus any credit. The outcome-based license fee is calculated from it.
- Fixed license fee
- A monthly fee that stays the same whatever your results.
- Funding
- A small payment between buyers and sellers of perpetual futures every few hours. It can go either way.
- Hedging
- Opening a position that offsets the risk of another one.
- Hosting
- Veuby's service where your copy of the bots runs, on servers in Finland. You can also run your copy of the bots on your own server.
- Largest fall from a high
- The biggest drop in an account below its earlier highest point, before it recovered. Also called maximum drawdown.
- Leverage
- Trading with positions larger than the money behind them. It makes both gains and losses bigger.
- Limits
- Settings you choose for your copy of the bots, such as the maximum position size and the risk level.
- Live results
- Results from real trading, as opposed to backtests.
- Long and short
- A long position gains when the price rises. A short position gains when the price falls.
- Market regime
- Whether a market is moving up, down or sideways.
- Max position size
- The largest position a bot may hold, as a share of your capital. From 50% to 500%, set by you.
- Outcome-based license fee
- A monthly fee calculated from your bots' trading result. A losing month has no fee.
- Perpetual futures
- Contracts that follow the price of a crypto-asset without an end date. They usually involve leverage and funding payments.
- Risk level
- A scale from 1 to 5 that you set for each bot. 1 is the most cautious, 5 the boldest. It decides how hard the bot's own risk controls hold it back.
- Slippage
- The difference between the price a trade was expected at and the price it actually got.
- Spot market
- A market where crypto is bought and sold directly, for immediate delivery.
- Steadiness (Sharpe ratio)
- Profit compared with its day-to-day ups and downs. Above 1 is good, above 2 very good.
- Trade-only key
- An API key that can place trades but can't withdraw or transfer money.
- Version
- A release of Veuby's software, the same for every customer. You decide when to install a new one.