New to Galileo FX, excited to start learning
- Thread starter msshawnf
- Start date
The first step would be to learn the language of trading and then to learn the settings for the bot. Open a demo account first so you don't lose your money while you are learning. On the platform (MT4 or MT5), you'll open a Chart which is what you want to trade. On the chart, you'll see Candles which are the rectangles going up and down one after another. A wick is the thin line that comes out of the candle. That should be enough lingo to get you going. As for the bot settings, Lot Size is the size of the trade you want to make. Think about it like a crypto or a stock where you buy 1 stock in a company or 10 stocks in a company, or you could buy 1 bitcoin or 0.0001 of a bitcoin, but forex calls it a Lot. Most people start with a 0.01 lot size which costs roughly $50 USD on most charts when you calculate Margin and Leverage. Risk doesn't matter if you set a Lot Size, and Maximum Orders is self explanatory (although it is recommended to set this to 1 while learning so you can watch trades happen in real time and better adjust your strategy). I would advise looking up each setting in this forum and reading about each one while you learn about trading.
While you are learning, there are also many downloadable settings available on the website and there is a thread here in the forum where Sanchay will give settings every week. You can plug and play those, but that doesn't mean you'll make money. But it is a good place to start with testing things and learning what each setting does.
While you are learning, there are also many downloadable settings available on the website and there is a thread here in the forum where Sanchay will give settings every week. You can plug and play those, but that doesn't mean you'll make money. But it is a good place to start with testing things and learning what each setting does.
J
Joeboy
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