Help with always hitting SL - newbie needing some help

[Robla101]

Hi There everyone,

I wondered if anyone can help me? I've set everything up and running a number of pairs, autotrading at this setting on a 1 hour time frame.



I have just increased the SL to 200 but i am constantly hitting the SL:



As you can see every time Galileo opens a trade it is a SL pretty much all of the time.

I'm new to this and trying to get the ideal setting but it seems i get a signal to buy and it turns out as a sell etc.

I'm struggling to get it right at the moment.

can any of the wonderful folk in this community offer up some guidance at all.

I'd be very grateful.

Regards,

R.

 

[JVM02]

Hello, what has worked for me is to look for a trend. If its going up you want a high consecutive bearish signal setting and a low consecutive bearish signal setting. So lets say the market will trend down for 7 hours, You can try a setting such as 2 consecutive bullish signals, and 10 consecutive bearish signals. This is because when consecutive bullish signals are low it will mostly sell instead of buy. It works like this because the bot takes advantage of the pullbacks on the trend. Also learning to backtest on metatrader can help you a lot, do you know how to make a back test?

 

[lister]

Hi There everyone,

I wondered if anyone can help me? I've set everything up and running a number of pairs, autotrading at this setting on a 1 hour time frame.

View attachment 1577

I have just increased the SL to 200 but i am constantly hitting the SL:

View attachment 1578

As you can see every time Galileo opens a trade it is a SL pretty much all of the time.

I'm new to this and trying to get the ideal setting but it seems i get a signal to buy and it turns out as a sell etc.

I'm struggling to get it right at the moment.

can any of the wonderful folk in this community offer up some guidance at all.

I'd be very grateful.

Regards,

R.

hello, im newbie also. try to look the settings of master VINZ here. im using his settings

 

[Robla101]

Hello, what has worked for me is to look for a trend. If its going up you want a high consecutive bearish signal setting and a low consecutive bearish signal setting. So lets say the market will trend down for 7 hours, You can try a setting such as 2 consecutive bullish signals, and 10 consecutive bearish signals. This is because when consecutive bullish signals are low it will mostly sell instead of buy. It works like this because the bot takes advantage of the pullbacks on the trend. Also learning to backtest on metatrader can help you a lot, do you know how to make a back test?

Hey there JVM02,

Thanks for replying, so helpful, i'll get on that for sure and give it a go.

Back testing? No i am not sure on how to do it. Can you offer up any advise?

Thanks.

Rob.

 

[Don Emperor]

Hi There everyone,

I wondered if anyone can help me? I've set everything up and running a number of pairs, autotrading at this setting on a 1 hour time frame.

View attachment 1577

I have just increased the SL to 200 but i am constantly hitting the SL:

View attachment 1578

As you can see every time Galileo opens a trade it is a SL pretty much all of the time.

I'm new to this and trying to get the ideal setting but it seems i get a signal to buy and it turns out as a sell etc.

I'm struggling to get it right at the moment.

can any of the wonderful folk in this community offer up some guidance at all.

I'd be very grateful.

Regards,

R.

Let me offer a general advice since you are new to this. The first thing you need to do is have an understanding of what triggers the bot uses to open trades. With Galileo it is the consecutive bullish or bearish candles as specified in the inputs tab. For example if you have 4 f consecutive bullish signals, the EA would open a bearish signal when you have 4 consecutive bullish candles. It is that simple. Essentially Galileo adopts a contrarian approach. Now trading a 1 hour time frame with 200 points Stop Loss will lead to a slow bleed and eventually you loss the account. My first genreal advice is to use an ATR indicator with a multiplier of 3 to set the stop loss ( my own approach) . Second trade with the trend . If you look at for instance XAUUSD you will see it is in a clear bullish trend , You do not want to be on the short side of that trend. So set the EA to trade long. My own style since I am basically a trend trader is that I set the consecutive bearish signals to 3 which means Galileo will buy if it has 3 consecutive bearish candles on the timeframe I want to trade . Then I set the consecutive bullish signals to an unrealistic number (100) . I hope this helps.

 

[Vinz]

Hi There everyone,

I wondered if anyone can help me? I've set everything up and running a number of pairs, autotrading at this setting on a 1 hour time frame.

View attachment 1577

I have just increased the SL to 200 but i am constantly hitting the SL:

View attachment 1578

As you can see every time Galileo opens a trade it is a SL pretty much all of the time.

I'm new to this and trying to get the ideal setting but it seems i get a signal to buy and it turns out as a sell etc.

I'm struggling to get it right at the moment.

can any of the wonderful folk in this community offer up some guidance at all.

I'd be very grateful.

Regards,

R.

adjust your sl and tp

 

[tdgarber]

adjust your sl and tp

What would be better settings? I have mine at 50 and 200.

 

[yawaboagye]

P

Hello, what has worked for me is to look for a trend. If its going up you want a high consecutive bearish signal setting and a low consecutive bearish signal setting. So lets say the market will trend down for 7 hours, You can try a setting such as 2 consecutive bullish signals, and 10 consecutive bearish signals. This is because when consecutive bullish signals are low it will mostly sell instead of buy. It works like this because the bot takes advantage of the pullbacks on the trend. Also learning to backtest on metatrader can help you a lot, do you know how to make a back test?

Please share how to do the back test with us