Recent content by The Common Sense Investor

You’ve run into one of the most common problems when trying to replicate someone else’s Galileo results in MT5. There are three main reasons why your backtests won’t match up exactly: Broker feed differences – every broker’s price data and spreads are slightly different, which changes when...

BeGood, I think when Sanchay says he adjusts settings weekly, what he’s really doing is aligning with the weekly trend. For example, if the market shifts from consolidation to a bullish run, he’d tweak his settings so the bot is working with the trend rather than against it. As for which...

Hey everyone, CSI here—let’s cut the fluff and talk about the #1 rookie mistake in Forex bot trading: picking the wrong lot size. You load up your shiny new bot on three charts, hit “go,” and suddenly your account looks like a haunted house after a Halloween sale. Why? Because you didn’t divide...

Go to your tool bar at the top Right click Customize Look in left box for Strategy Tester And "Insert"

🚀 5 Tips to Make You a Better Trader w/ MetaTrader & Galileo FX Hey traders – CSI here 👋 Just dropped a new video packed with 5 practical tips to help sharpen your game on MetaTrader – especially if you're using bots like Galileo FX or building your own. You'll learn: How to scale out of...

Hi friend, The "spread" is the difference between the "bid" and "ask" price. In this video, I explain first how to set up your MetaTrader platforms tool bar and how to arrange your watchlist including how to add the spread to your watch list. Sign Up for the One-on-One Bot Trading Coaching...

Understanding HOW THE GALILEO FX trading bot works is the first step to making profits. Watch this short 3 minute lesson to learn how Galileo FX bot decides when to buy/sell and WHY here

The Magic Number for Galileo is 20200311. Once you have Galileo on a chart, double click the graduation hat. This will open your Galileo settings. And, the first setting is the Magic Number. You can change it if you want. But, like you said, the magic number is no more than a bot identifier...

Hi Crypto Colette. Saw your post and thought I would bring to your attention that the GBP/CHF has a pretty high "spread". It looks like the spread for this pair is over 40. And, I don't like to trade anything with a spread over 22 if I can help it. The spread is important because you don't...

Lot sizes can be tricky. It isn't really as clear as I have a $5000 account. What should my lot size be. When choosing the right lot size, things like "How many charts do you plan to have your bot on?" Personally, use four different currency pairs, so the bot is on four different charts. If I...

Yes

Check out my three video series on Galileo HERE I post my settings EVERY SUNDAY BEFORE MARKETS OPEN HERE https://docs.google.com/spreadsheets/d/1AXnrLwf8mbdcTZfnqS7lT1lmkI_nC9k4ZQR53BIWR-o/edit?usp=sharing I began running test on 5 currency pairs on Friday evening when the markets closes and it...

Hi Wapiti, Which broker to choose? Well, it is a personal preference depending on rather you mind paying commissions or not. I have a Forex.com account and I am using the "Spread Only" account because it is commission free. The spread is the commission. Hoped this helped. CSI

Email me at commonsenseinvestor2022@gmail.com If you are looking for the most recent numbers for Galileo, here is the list I have installed this week in my bot. https://docs.google.com/spreadsheets/d/1AXnrLwf8mbdcTZfnqS7lT1lmkI_nC9k4ZQR53BIWR-o/edit?usp=sharing Also, you can schedule a one on...

Well now consider your settings. You picked consecutive bullish and bearish numbers. So your bot knew where to buy/sell. But you have not told the bot how much you want to take profit (in points). And you also haven't told the bot how much loss it should take. Personally I use a take profit...