Optimizing the Galileo FX bot for better profitability - A systematic approach
- Thread starter David
- Start date
This is from a post made by Chris, and quote"
Let me attach some useful info for you guys here:
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.
We suggest starting with the suggested settings and trying them out in Demo (M1, M5, M30, H1) to find the best configuration that works with your specific setup and broker.
Our first suggestion is to let the bot run in Demo and complete the analysis process. The bot requires real-time data to work effectively, so you need to run it for some time to feed the bot with live data.
We recommend testing and experimenting with all the different presets and different pair combinations in Demo. Additionally, don’t forget to try different timeframes (M1, M5, M30, H1) to find the best configuration that works with your specific setup and broker.
Timeframe Explanation: By decreasing the Time Frame setting (for example M1, M5, M15 or M30), you will instruct GalileoFX to trade more frequently. Likewise, by increasing the Timeframe (for example H1, H2, H4, H6 or D1).
Examples of Timeframes:
M1 = One trade per minute
M5 = One trade every 5 minutes
M15 = One trade every 15 minutes
M30 = One trade every 30 minutes
H1 = One trade every 1 hour
D1 = One trade every 1 day
Consecutive Bullish/Bearish Signals Explanation: This is the most critical setting of GalileoFX. It instructs the software when it should buy or sell. If it’s set low (1–3), the bot will trade with higher risk and higher reward. If it’s set high (7–10), GalileoFX will make fewer trades.
Examples of Consecutive Bullish/Bearish Signals:
High Risk: Consecutive Bullish/Bearish Signals = 1 to 3
Medium Risk: Consecutive Bullish/Bearish Signals = 3 to 6
Low Risk: Consecutive Bullish/Bearish Signals = 7 to 10
Let me attach some useful info for you guys here:
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.
We suggest starting with the suggested settings and trying them out in Demo (M1, M5, M30, H1) to find the best configuration that works with your specific setup and broker.
Our first suggestion is to let the bot run in Demo and complete the analysis process. The bot requires real-time data to work effectively, so you need to run it for some time to feed the bot with live data.
We recommend testing and experimenting with all the different presets and different pair combinations in Demo. Additionally, don’t forget to try different timeframes (M1, M5, M30, H1) to find the best configuration that works with your specific setup and broker.
Timeframe Explanation: By decreasing the Time Frame setting (for example M1, M5, M15 or M30), you will instruct GalileoFX to trade more frequently. Likewise, by increasing the Timeframe (for example H1, H2, H4, H6 or D1).
Examples of Timeframes:
M1 = One trade per minute
M5 = One trade every 5 minutes
M15 = One trade every 15 minutes
M30 = One trade every 30 minutes
H1 = One trade every 1 hour
D1 = One trade every 1 day
Consecutive Bullish/Bearish Signals Explanation: This is the most critical setting of GalileoFX. It instructs the software when it should buy or sell. If it’s set low (1–3), the bot will trade with higher risk and higher reward. If it’s set high (7–10), GalileoFX will make fewer trades.
Examples of Consecutive Bullish/Bearish Signals:
High Risk: Consecutive Bullish/Bearish Signals = 1 to 3
Medium Risk: Consecutive Bullish/Bearish Signals = 3 to 6
Low Risk: Consecutive Bullish/Bearish Signals = 7 to 10
Nobody will answer probably.
Even my today's previous post asking for WORKING SETTINGS was here deleted. Because reality is, this system is just a marketing and nobody really can make money out of it. Just counting candles with a hope of market reversal is like gambling... with results close to zero or more probably minus.
I am asking GalileoFX officials to provide details and the prove of this statement from their marketing email: "3. Trusted by Experts and Loved by Users: Galileo FX isn’t just for the pros; it’s built for everyone. Thousands of users have already reported incredible results, including one who achieved over $17,000 in profits within just 32 days . Don’t just take our word for it—let their success be your inspiration." and also for this statement form the same email: "Manual trading is outdated. Galileo FX is the future, with an accuracy rate of up to 96.46%"
So far no explanation and my comment was deleted without any reason and explanation.
Please provide really working settings AND the proof of what you send in marketing emails.
Even my today's previous post asking for WORKING SETTINGS was here deleted. Because reality is, this system is just a marketing and nobody really can make money out of it. Just counting candles with a hope of market reversal is like gambling... with results close to zero or more probably minus.
I am asking GalileoFX officials to provide details and the prove of this statement from their marketing email: "3. Trusted by Experts and Loved by Users: Galileo FX isn’t just for the pros; it’s built for everyone. Thousands of users have already reported incredible results, including one who achieved over $17,000 in profits within just 32 days . Don’t just take our word for it—let their success be your inspiration." and also for this statement form the same email: "Manual trading is outdated. Galileo FX is the future, with an accuracy rate of up to 96.46%"
So far no explanation and my comment was deleted without any reason and explanation.
Please provide really working settings AND the proof of what you send in marketing emails.
of course I have no access to the source code, of course it is protected. I could solve that in a few minutes, but they don´t want you to have profits, I don´t know why ...
with buy trades on bullish signals amd sell trades on bearish signals I think, I would be able to make a profitable setup. But they don´t want that.
with buy trades on bullish signals amd sell trades on bearish signals I think, I would be able to make a profitable setup. But they don´t want that.
Trend reversals are usually traded with confirmation signals and definitely not with hope that trend will reverse after 3, 5 or whatever number of consecutive signals. Not sure that I can also trust their backtesting results, as you can perfectly calibrate the settings backwards for any instrument until it shows good profits.
My suggestion to Galileo team is to setup an EA, which opens an order only after confirmation signal of the trend reversal.
My suggestion to Galileo team is to setup an EA, which opens an order only after confirmation signal of the trend reversal.
mytymedave
New member
mytymedave
New member
So from your post I gather that you are day trading....
The bot does not do any technical analysis. It only executed trades based on bullish and bearish candles in a row. You must perform your own technical analysis based on rsi, mfi, stochastic oscillator, nadaraya watson etc. The bot works well if you combine it with your own analysis before setting up bull-bear on the bot.
Trading gold is much easier than forex, forex is the most difficult in the business and profits are very low per trade.
Trading gold is much easier than forex, forex is the most difficult in the business and profits are very low per trade.
How are you doing Gold ? what settings have you implemented ?
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