Newbie trying to find the right strategy

[maxim]

Hi,

I am new to this. I use MT5 on a VPS and IBKR papertrading with a gateway. In MT5 I use the MetaQuotes demo account. I'm still trying to find a strategy that actually does any trades. I currently have 10 charts up with different strategies I downloaded.

One strategy that actually wanted to execute a trade is Rogue Breakout Helix XAUUSD on M30 chart. The trade didn't execute on my demo account because it said there's no money. When looking closer I see:

2026.01.12 18:30:00.018 Trades '10009063399': failed market buy 43.85 XAUUSD sl: 4600.22 tp: 4621.99 [No money]

This means that the bot tried to purchase 43.85 lots of XAUUSD is usually 100 oz so that would mean that it tried to purchase 4300 ounces of gold (!!) which would cost 19.8mio! Good thing I'm doing paper trading.

But I see the settings in the bot for the lot is set to 0 / meaning dynamic. The risk is set to 2.5%.

How is it that it wanted to buy 43.85 lots?? Do I have to manually set the lot sizes somewhere?

best,
Maxim

 

[The Common Sense Investor]

Hi Maxim,
I am The Common Sense Investor. I have a popular Youtube channel where I have a playlist for Galileo training if you need help.
You can find it here. There are over a dozen lessons.

 

[maxim]

Thanks for that... I will start to watch now.

 

[Henry]

Ok , for what I can see on there the bot tried to place a trade on that market but calculated wrong the lot size of the trade. It is supposed to use 2.5% of your balance on each trade but not sue if because of the stop loss or the leverage of your demo account that was not correctly calculated. To avoid that kind of issues for the future what you could do is to use the lot size feature instead. Set a lot size of 0.1 or 0.01 and once the bot reaches the consecutive signals it will place a trade using that lot size value.

 

[maxim]

Thanks again for that video playlist. This really got me started.

I've been doing Crypto Bots for a couple of years so I'm familiar with Algo trading - just not in the FX markets.

One question I had with Galileo Bot though is if there's a way to tweak it in a way so that when the market continuously goes against the position that's been taken, can you start to DCA and therefore change the price and the pricetarget?

So for example:

- The bot buys 3k USDCHF
- the market goes down by x%
- the bot buys another 6k
- market goes down another x%
- bot buys another 6k ...
- repeat and rinse for as long as you're comfortable.

Your average buy price is much lower and USDCHF doesn't have to bounce back that much to make a profit.

best,
Maxim

 

[MARKC]

Thanks again for that video playlist. This really got me started.

I've been doing Crypto Bots for a couple of years so I'm familiar with Algo trading - just not in the FX markets.

One question I had with Galileo Bot though is if there's a way to tweak it in a way so that when the market continuously goes against the position that's been taken, can you start to DCA and therefore change the price and the pricetarget?

So for example:

- The bot buys 3k USDCHF
- the market goes down by x%
- the bot buys another 6k
- market goes down another x%
- bot buys another 6k ...
- repeat and rinse for as long as you're comfortable.

Your average buy price is much lower and USDCHF doesn't have to bounce back that much to make a profit.

best,
Maxim

Hello Maxim,

Thank you for the detailed question and for sharing your background with algo trading. At the moment, Galileo FX does not work in a DCA or grid style where it keeps adding positions against an open trade to average the price. The bot is designed to enter and exit trades based on its strategy rules and risk controls, rather than continuously adding to a losing position.

This means Galileo FX will not automatically place additional trades to lower the average entry price if the market moves against the position. Instead, it waits for new valid trade conditions before opening another position, which helps manage risk and avoid excessive drawdown during strong trends.

We appreciate you sharing this idea, as it is a common approach in crypto bots, but for now this type of DCA behavior is not part of how Galileo FX operates.