Just started yesterday

[ScottUAE]

Hi everyone,

Just started yesterday, opened a pepper stone demo account and put $1200 in, I have a VPS running 24/7. Purchased Pro with premium settings package. I set everything up myself very quickly/easily with no issues. I’ve opened up a chart for each of the available trades in the demo account , various forex, commodities, indexes & stocks. Each has loaded either the respective premium settings or the appropriate aggressive setting from GFX guide. All on timeframe M5. Here we are 24 hours later and from a $1200 demo account I’ve made $55.

Is this normal? Any suggestions?

Also, one thing I can’t find anywhere is what the difference is between the Gold 5/10/20/50% and Silver 6/11/23%/seperate silver preset please?

Thank you all!

 

[Chris]

Hi everyone,

Just started yesterday, opened a pepper stone demo account and put $1200 in, I have a VPS running 24/7. Purchased Pro with premium settings package. I set everything up myself very quickly/easily with no issues. I’ve opened up a chart for each of the available trades in the demo account , various forex, commodities, indexes & stocks. Each has loaded either the respective premium settings or the appropriate aggressive setting from GFX guide. All on timeframe M5. Here we are 24 hours later and from a $1200 demo account I’ve made $55.

Is this normal? Any suggestions?

Also, one thing I can’t find anywhere is what the difference is between the Gold 5/10/20/50% and Silver 6/11/23%/seperate silver preset please?

Thank you all!

Hey Scott,

So regarding the trades, here's how the strategy of the software is when it's looking for new trades:
The trading strategy that buys and sells after a certain number of bullish or bearish signals is based on technical analysis. The robot scans the market in real-time, analyzing charts and looking for patterns based on specific parameters. The strategy is designed to detect consecutive bullish or bearish signals, which are generated by technical indicators, and use these signals to determine whether to buy or sell.

For example, if the parameter is set to 5 consecutive bullish signals, the bot will wait until it detects 5 bullish signals in a row before executing a sell order. The same applies to bearish signals. The strategy is designed to capture inversions of trends in the market and profit from them. The idea behind this strategy is that the more consecutive signals there are, the more likely it is that the trend will reverse.

This type of strategy is commonly used by traders who are looking to automate their technical analysis and make trades based on a set of defined rules. By setting specific parameters for the number of consecutive signals, the robot can make trades that are based on a clear and concise system, reducing the impact of emotions and human error.

In conclusion, the trading strategy that buys and sells after a certain number of bullish or bearish signals is a powerful tool for traders who want to automate their technical analysis and benefit from the scalability and accuracy of a trading robot.

As for the GOLD and SILVER folders, the percentages represent the profit we got back after testing out those particular settings.
Hope this helps, for any other questions or clarifications feel free to reach out at support@galileofx.com

 

[Choppstick]

Hey Scott,

So regarding the trades, here's how the strategy of the software is when it's looking for new trades:
The trading strategy that buys and sells after a certain number of bullish or bearish signals is based on technical analysis. The robot scans the market in real-time, analyzing charts and looking for patterns based on specific parameters. The strategy is designed to detect consecutive bullish or bearish signals, which are generated by technical indicators, and use these signals to determine whether to buy or sell.

For example, if the parameter is set to 5 consecutive bullish signals, the bot will wait until it detects 5 bullish signals in a row before executing a sell order. The same applies to bearish signals. The strategy is designed to capture inversions of trends in the market and profit from them. The idea behind this strategy is that the more consecutive signals there are, the more likely it is that the trend will reverse.

This type of strategy is commonly used by traders who are looking to automate their technical analysis and make trades based on a set of defined rules. By setting specific parameters for the number of consecutive signals, the robot can make trades that are based on a clear and concise system, reducing the impact of emotions and human error.

In conclusion, the trading strategy that buys and sells after a certain number of bullish or bearish signals is a powerful tool for traders who want to automate their technical analysis and benefit from the scalability and accuracy of a trading robot.

As for the GOLD and SILVER folders, the percentages represent the profit we got back after testing out those particular settings.
Hope this helps, for any other questions or clarifications feel free to reach out at support@galileofx.com

Hey thankyou for the heads up Chris. I had a feeling this was the case. Appreciate the confirmation.

 

[skybasu]

Hey Scott,

So regarding the trades, here's how the strategy of the software is when it's looking for new trades:
The trading strategy that buys and sells after a certain number of bullish or bearish signals is based on technical analysis. The robot scans the market in real-time, analyzing charts and looking for patterns based on specific parameters. The strategy is designed to detect consecutive bullish or bearish signals, which are generated by technical indicators, and use these signals to determine whether to buy or sell.

For example, if the parameter is set to 5 consecutive bullish signals, the bot will wait until it detects 5 bullish signals in a row before executing a sell order. The same applies to bearish signals. The strategy is designed to capture inversions of trends in the market and profit from them. The idea behind this strategy is that the more consecutive signals there are, the more likely it is that the trend will reverse.

This type of strategy is commonly used by traders who are looking to automate their technical analysis and make trades based on a set of defined rules. By setting specific parameters for the number of consecutive signals, the robot can make trades that are based on a clear and concise system, reducing the impact of emotions and human error.

In conclusion, the trading strategy that buys and sells after a certain number of bullish or bearish signals is a powerful tool for traders who want to automate their technical analysis and benefit from the scalability and accuracy of a trading robot.

As for the GOLD and SILVER folders, the percentages represent the profit we got back after testing out those particular settings.
Hope this helps, for any other questions or clarifications feel free to reach out at support@galileofx.com

Hi @Chris

This strategy works well for a sideways mean reversing trend. If a market is trending bullish or bearish, especially with some momentum, it creates a large drawdown!

Is there a mitigating strategy to reduce the drawdown in such a scenario?

 

[Joeboy]

In trading with leverage and larger lot sizes, mitigating drawdowns is crucial for preserving capital and sustaining profitability. Employ strict stop-loss orders to limit losses, practice effective position sizing to manage risk, and diversify across different pairs to reduce overall exposure. Utilize gradual position scaling, consider hedging strategies, and employ trailing stops to protect profits. Regularly assess market conditions and adjust your strategy accordingly. By prioritizing risk management and maintaining discipline, traders can navigate volatile markets with greater confidence and resilience.