I wanted to share my initial experiences with Galileo Pro, as a complete newbie to the world of trading. I hope this post provides some insights and sparks some discussions.
Getting Started:
About two weeks ago, I took the plunge and bought the Galileo Pro with premium settings. Before risking real money, I spent a few days running demo backtests. Encouraged by the results, I dived into live trading.
EUR/USD – The Ups and Downs:
My first week was primarily centered around the EUR/USD pair using the M30 timeframe with the premium settings. I was delighted to make an average profit of around 500 EUR daily. However, as we all know, the market can be unpredictable. The EUR took a dive, and my profits soon followed. At this point, I made a newbie move – I removed my stop-loss, clinging to the hope that the EUR would eventually recover.
Educating Myself:
Over the weekend, realizing the risks I was taking, I dedicated hours to learn more about trading, strategies, and, most importantly, the various settings in Galileo. One thing I found surprising was the lack of discussion on this forum about the 'trailing start' and 'step' in Galileo. It made me wonder if we’re all tapping into its full potential.
Exploring Trailing Stop:
After a bit of research, I decided to use trailing start and stop settings. Still being cautious about the EUR trades (now 1k down without S/L), I shifted focus to the USD/CHF and USD/JPY pairs on the M5 timeframe. Once again, I avoided setting a S/L, but this time I incorporated the trailing start and stop settings.
The results? The past few days have been impressive. All of my new trades ended in profit, with a 100% win rate! Upon analyzing these trades, I observed that even though I rarely hit my set Take Profit (T/P) of 200, I always remained in profit (averaging about 50 EUR per trade) because of the trailing stop coming into play. Just to give you all an idea – I raked in a profit of 2k EUR yesterday and, as of today, I’m 800 up.
Concluding Thoughts:
While I still have much to learn and a long journey ahead in the trading world, I felt the need to share these initial findings and experiences. Trailing stops seem to be making a noticeable difference for me, and I'd love to know if anyone else has had similar experiences.
To all my fellow traders, especially the newbies like me – keep learning, testing, and sharing. We grow better together. Looking forward to your thoughts and feedback!
Myfxbook is private, so here is only a screenshot:
Getting Started:
About two weeks ago, I took the plunge and bought the Galileo Pro with premium settings. Before risking real money, I spent a few days running demo backtests. Encouraged by the results, I dived into live trading.
EUR/USD – The Ups and Downs:
My first week was primarily centered around the EUR/USD pair using the M30 timeframe with the premium settings. I was delighted to make an average profit of around 500 EUR daily. However, as we all know, the market can be unpredictable. The EUR took a dive, and my profits soon followed. At this point, I made a newbie move – I removed my stop-loss, clinging to the hope that the EUR would eventually recover.
Educating Myself:
Over the weekend, realizing the risks I was taking, I dedicated hours to learn more about trading, strategies, and, most importantly, the various settings in Galileo. One thing I found surprising was the lack of discussion on this forum about the 'trailing start' and 'step' in Galileo. It made me wonder if we’re all tapping into its full potential.
Exploring Trailing Stop:
After a bit of research, I decided to use trailing start and stop settings. Still being cautious about the EUR trades (now 1k down without S/L), I shifted focus to the USD/CHF and USD/JPY pairs on the M5 timeframe. Once again, I avoided setting a S/L, but this time I incorporated the trailing start and stop settings.
The results? The past few days have been impressive. All of my new trades ended in profit, with a 100% win rate! Upon analyzing these trades, I observed that even though I rarely hit my set Take Profit (T/P) of 200, I always remained in profit (averaging about 50 EUR per trade) because of the trailing stop coming into play. Just to give you all an idea – I raked in a profit of 2k EUR yesterday and, as of today, I’m 800 up.
Concluding Thoughts:
While I still have much to learn and a long journey ahead in the trading world, I felt the need to share these initial findings and experiences. Trailing stops seem to be making a noticeable difference for me, and I'd love to know if anyone else has had similar experiences.
To all my fellow traders, especially the newbies like me – keep learning, testing, and sharing. We grow better together. Looking forward to your thoughts and feedback!
Myfxbook is private, so here is only a screenshot:
