Does this make sense?

[terrabola]

Does this make sense why Galileo FX was placing buys when the market was clearly trending downward?

(Disclaimer: I'm new to FX trading, so I suspect it's ignorance on my part)

 

[Mattrav05]

see the three red bars before your first buy? those were the three bullish signals you set in the settings, then the pair kept descending lol, and the next bar was another 3rd signal, then another, then another, then another, and another and arhhgghghhghghghghg

 

[norman Says]

Does this make sense why Galileo FX was placing buys when the market was clearly trending downward?

(Disclaimer: I'm new to FX trading, so I suspect it's ignorance on my part)

This is what makes this EA confusing. Signals then are merely based on reversal after counting the preset count of candles. While other EAs use a number of technical analysis tools indicators to come up with a signal. Making Galileo FX simply unreliable as an EA. Any Admin here has a better explanation for EA is generated?

 

[Mattrav05]

This is what makes this EA confusing. Signals then are merely based on reversal after counting the preset count of candles. While other EAs use a number of technical analysis tools indicators to come up with a signal. Making Galileo FX simply unreliable as an EA. Any Admin here has a better explanation for EA is generated?

Ya, but dude is trading on m15, setting it at 3 is madness if you're not going to be watching it.

 

[norman Says]

Ya, but dude is trading on m15, setting it at 3 is madness if you're not going to be watching it.

but isn't EAs supposed to function as such. You set it up and then you can leave it without so much supervision.

 

[jondubrick]

but isn't EAs supposed to function as such. You set it up and then you can leave it without so much supervision.

Absolutely not, you have to watch..H1 or better with 8/10 bullish/bearish and then maybe you can not watch as much IMO

 

[matter2003]

Absolutely not, you have to watch..H1 or better with 8/10 bullish/bearish and then maybe you can not watch as much IMO

I've found on the H1 settings with the 8/10 it will barely make any trades over a 3 month backtesting period, which renders those almost worthless on many assets. Try EURUSD for instance...not a single trade over 3 months. USDJPY is like 12 or 13.