Only short in a bearish trend EUR/USD 1639$ profit

[Emma]

I recognize bearish trend in a EUR/USD, so I tried to use @only short@ settings without stop loss, and with TP 200, but I mostly closed it manually, Today profit is 1639 usd. Used M5 settings with 1 lot and 3 consecutive bearish signals...

 

[HenktheTank]

Hi Emma ! Thanks for sharing your results. Very helpful for a newbee on Galileo like me who used to trade only manual. Cud u tell what time frame u used for spotting that bearish trend on EU ? Many thanks !

 

[Emma]

Hi Emma ! Thanks for sharing your results. Very helpful for a newbee on Galileo like me who used to trade only manual. Cud u tell what time frame u used for spotting that bearish trend on EU ? Many thanks !

Thanks. I am using multiple time frames to spotify the trend, but it is a basically a matter of wider technical analysis. At the end I run the Galileo on m5.

 

[nikbor48]

Is that a demo account and what broker do you use please.
Thank you!

 

[MHJ]

I recognize bearish trend in a EUR/USD, so I tried to use @only short@ settings without stop loss, and with TP 200, but I mostly closed it manually, Today profit is 1639 usd. Used M5 settings with 1 lot and 3 consecutive bearish signals...View attachment 419

Hi Emma, what do you place in the Bullish column when doing these trades, only going short?

 

[Emma]

Hi Emma, what do you place in the Bullish column when doing these trades, only going short?

You can leave it empty, it does not matter....because robot is going to open only short position anyhow....

 

[MHJ]

Thank you.

 

[Emma]

Thank you.

Did you succeed to make some profit?

 

[MHJ]

Did you succeed to make some profit?

Battling to get profits consistently, seems to buy/sell when it should be doing the opposite. Do you only trade in a strong trending market?

 

[Emma]

Battling to get profits consistently, seems to buy/sell when it should be doing the opposite. Do you only trade in a strong trending market?

When I trade only long and only short it is for the reason of a strong and safe trend, but that is the part of a bigger picture and tech analysis. For the rest strategy I am using just galileo major settings, and I again emphesized that risk management is the crucial....

 

[MHJ]

I recognize bearish trend in a EUR/USD, so I tried to use @only short@ settings without stop loss, and with TP 200, but I mostly closed it manually, Today profit is 1639 usd. Used M5 settings with 1 lot and 3 consecutive bearish signals...View attachment 419

When I trade only long and only short it is for the reason of a strong and safe trend, but that is the part of a bigger picture and tech analysis. For the rest strategy I am using just galileo major settings, and I again emphesized that risk management is the crucial....

I agree the risk management has to be in place. I am busy testing settings on the demo and checking the charts to see the trades, hopefully this will help to provide clarity.

 

[VuleV]

I agree the risk management has to be in place. I am busy testing settings on the demo and checking the charts to see the trades, hopefully this will help to provide clarity.

HI MHJ, do you have any suggestion of settings on forex major pairs? I am also testing it and I think is good idea to limit the robot for some exact number of trades...what do you think?

 

[MHJ]

HI MHJ, do you have any suggestion of settings on forex major pairs? I am also testing it and I think is good idea to limit the robot for some exact number of trades...what do you think?

My settings are not profitable, which is why I busy checking alternative settings. I agree with limiting the number of trades, as this makes it easier to track the results when testing. I normally limit it to 1 so I am able to trace the trade clearly.

 

[Alex Trader]

Nice results Emma, I am testing now robot on EUR/USD.. so far I can tell that limiting number of orders is important, since at some point it can violete risk management, with opening to much orders....

 

[DavidLee35]

You can leave it empty, it does not matter....because robot is going to open only short position anyhow....

I have tried setting it to zero but lets say in an uptrend it still opens SELL signal and visa versa

 

[Emma]

I have tried setting it to zero but lets say in an uptrend it still opens SELL signal and visa versa

If you want to limit the robot to trade only buying orders, you need to check "only long" on setup...on any other way robot will trade both long and short....

 

[Emma]

Hi Emma, what do you place in the Bullish column when doing these trades, only going short?

It does not matter, put it what ever you want, since the robot only opening short trade

 

[Emma]

Nice results Emma, I am testing now robot on EUR/USD.. so far I can tell that limiting number of orders is important, since at some point it can violete risk management, with opening to much orders....

Exactly! Good point, or you can close it manually if you see that the robot is opening to much

 

[GusV]

If you want to limit the robot to trade only buying orders, you need to check "only long" on setup...on any other way robot will trade both long and short....

Hi where do yu set only long, under alerts?

 

[Emma]

Hi where do yu set only long, under alerts?