January 6, 2025 Galileo FX Settings

[The Common Sense Investor]

Hello everyone. Today is January 6, 2025 and these are the Settings I am using in my Galileo FX bot this morning.
If you have not changed the date in your bots Optimizer, remember I like to set my forward date 30 days ahead so I don't have to worry about it for a month.
You can follow my Trading Journal HERE and find my latest settings for Galileo.
Have a fantastic trading week.
Be blessed,
CSI

 

[skryczkowski]

Are you running all 6 of these at the same time using those settings and a $1500 balance? Any issues with running out of margin? What setting for max orders?

 

[The Common Sense Investor]

With a balance of $1600 you can see the lot size i use. This gives me about $500 in free margin. Max Order are ALWAYS ALWAYS set to 1!!!!

 

[Dev]

What is maximum orxder set?

 

[The Common Sense Investor]

Ok. Maximum Order...
When you open a chart (say AUDUSD) and it's on the 5 minute chart...
In your settings, if you have Galileo Max Orders on "1" - then when the bullish or bearish signal is triggered, Galileo will buy/sell.
Since your setting is on ONE (1), that is the only trade Galileo will open on the AUDUSD 5 min chart.
However, if you have your settings on (2). Then,
Galileo will open the initial position on the AUDUSD. And then, 5 minutes later it will check the chart to see if the bullish and bearish signals are still in play.
If they are, then Galileo will buy a second time on the AUDUSD chart.

HERE IS THE DANGER: (And, I will do a Video about it),
If your Max Order is on say (5), it will open the initial position, then
Every 5 minutes it will check the chart to see if the bullish and bearish signals are still good. If they are, then
Galileo will buy FOUR MORE TIMES on the AUDUSD.
YOU DO NOT WANT THAT TO HAPPEN....

It is best if you place your Max Order on (1) ONE
When Galileo opens a trade on the AUDUSD (or any other chart) then it will not buy again till it closes out the initial position.
Then, after it closes out the initial position, it will check the chart for the next buy or sell signals....

Hoped this helped,
The Common Sense Investor (CSI)

 

[bbg]

Hello everyone. Today is January 6, 2025 and these are the Settings I am using in my Galileo FX bot this morning.
If you have not changed the date in your bots Optimizer, remember I like to set my forward date 30 days ahead so I don't have to worry about it for a month.
You can follow my Trading Journal HERE and find my latest settings for Galileo.
Have a fantastic trading week.
Be blessed,
CSI

Dude, I can't tell you how invaluable you are to us beginners. I sense you have had success and want others to also gain financial freedom. I'll look at these presets. I am interested in your opinion on adding additional metrics to the Galileo bot. Will Galileo look at other signals before making trades or is it just a stop/ start bot? I am probably overthinking, and indicators are more about getting in at the right time. There isnt a tool in my bag yet to manage risk. Once in, my stop is all there is. Advanced exit strategies for loosing positions may be just a lot of hog wash, I don't know. But interested in your take, can I use other indicators w Galileo internally? How do you manage trades that go south?

 

[The Common Sense Investor]

Are you running all 6 of these at the same time using those settings and a $1500 balance? Any issues with running out of margin? What setting for max orders?

Yes

 

[Wapiti]

Hello everyone. Today is January 6, 2025 and these are the Settings I am using in my Galileo FX bot this morning.
If you have not changed the date in your bots Optimizer, remember I like to set my forward date 30 days ahead so I don't have to worry about it for a month.
You can follow my Trading Journal HERE and find my latest settings for Galileo.
Have a fantastic trading week.
Be blessed,
CSI

I looked at your settings this week and you are showing a lot size of .03 with a $650 account. Is there any adjustments you recommend for a 5000 account? I have another 10,000 to move it to a 15,000 account once I figure this out. Thank you

 

[The Common Sense Investor]

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 had a $5000 account, then I know that I can have a lot size of .20.
This would allow the bot to open a trade on all four charts and still leave me enough Free Margin in case the
bot is wrong and goes against me.
If you follow this link to my Google Spreadsheet, you will find a tab that says "Galileo Test"

Galileo FX Notes & Free MACD Information

docs.google.com

On this spreadsheet, I show what bullish and bearish signals I am using for what currency pairs and what time frame
I am using the bot on.
Also, at the top of the spreadsheet is a list of videos I made to assist you in understanding how the bot works.
If you feel you need additional assistance, you can click the "Class Schedule" tab and find out what days and times
I have available for the one-on-one class I teach.
Hoped this helped.
CSI