Profitable Settings and Backtesting?

[matter2003]

Hi, not anymore. I blew the account, worked very good on demo. Also the broker I was using restricted the use of MT4 and EA's (hankotrade). This GalileoFX Pro isn't as "Pro" as I thought, needs attention and I don't have the time be watching it. But I keep my old one running more than 1-year like a drop of water...

I've made 33 consecutive winning trades manually, which so far has far outperformed the bot.

 

[mjkidd27]

Hi, not anymore. I blew the account, worked very good on demo. Also the broker I was using restricted the use of MT4 and EA's (hankotrade). This GalileoFX Pro isn't as "Pro" as I thought, needs attention and I don't have the time be watching it. But I keep my old one running more than 1-year like a drop of water...

Hmm...I'm confused. The screenshots (demo) you added show nothing more than miraculous results...so which account did you blow up? Did you trade it differently than your demo account? (By the way, is there anyway to direct message someone in this forum?) .

 

[Vinitrader]

Hmm...I'm confused. The screenshots (demo) you added show nothing more than miraculous results...so which account did you blow up? Did you trade it differently than your demo account? (By the way, is there anyway to direct message someone in this forum?) .

After some time on demo I tried a REAL account but didn't worked for me. I'm going to change the broker and try again.

 

[mjkidd27]

Try OX Securities...I'm liking them! You can hedge and no FIFO rules for US based traders!

 

[rebeccartremblay]

Hmm...I'm confused. The screenshots (demo) you added show nothing more than miraculous results...so which account did you blow up? Did you trade it differently than your demo account? (By the way, is there anyway to direct message someone in this forum?) .

Not seeing your results attached herein...would love to see them. I agree with you, the EA does need tweaking (testing) and monitoring but all in all, it's proving to have serious potential. I'm still in the demo testing phase for likely another 3-4 weeks but looking good so far.

I was looking for results as well and thought it was my phone cutting them off. This thread
has been more helpful than the 2 video meetings and countless phone calls and emails to support!

 

[rebeccartremblay]

Hmm...I'm confused. The screenshots (demo) you added show nothing more than miraculous results...so which account did you blow up? Did you trade it differently than your demo account? (By the way, is there anyway to direct message someone in this forum?) .

I've made 33 consecutive winning trades manually, which so far has far outperformed the bot.

I don't know if I should laugh or cry at this comment because it hasn't been long enough since I paid for bot and the cost still stings .

 

[Ravi24]

Guys,

There seems to be a lot of negativity about the bot in the chat. I am no expert on this. I think the problem is people are looking for a set and forget style and this EA needs a little work. I have set up the bot in trending markets which are showing up or down trends on longer time frame charts, and used my own settings to weight the entry for buy or sell only conditions. Now the risk percentages were pretty mad! This was a £140K demo account, but closed £58K profit in two days, I did manually close some positions and kept on eye on things, max DD was £6K, results attached from yesterday and today.

I think the answer lies in testing this one and getting more involved which might not suit everyone...

Happy weekend peeps!

Hey Mate
Can not see attachment . please show your result.
thanks

 

[ourotalley7]

Updating.......
Market was a "little slow" in past days waiting for Non-Farm Payrolls news (NFP). Nevertheless the account grew by $1,727.98 from 2023-10-04 to 2023-10-06
So far, so good...

Are you using premium settings?

 

[Sanchay]

Hello,




I understand the printscreens and the values of BULL and BEAR, but in reality, it is the opposite of what instructions say it is




GALFX instructions - The lowest the BULL value is, the biggest is the chance to open a BUY position

GALFX instructions - The lowest the BEAR value is, the biggest is the chance to open a SELL position



This is exactly the opposite of what you are showing, so...


How can you demonstrate the exact opposite of what instructions say? I am not sure what to do..follow what you say or follow the instructions
Is there another view for this?

Thanks

Daniel

Dear Daniel,

Thanks for writing to us, here is how GalileoFX trades:

The trading strategy utilized by Galileo FX is grounded in technical analysis. It operates by continuously scanning the market in real time, analyzing charts to identify patterns according to predefined parameters. Specifically, the strategy hinges on detecting consecutive bullish or bearish signals as indicated by technical indicators.

For instance, if set to react to 5 consecutive bullish signals, the robot will execute a sell order only after these signals occur consecutively, and similarly for bearish signals. This approach aims to capitalize on potential trend reversals, theorizing that multiple consecutive signals might indicate a shift in market direction.

Such strategies are popular among traders who prefer to minimize the emotional component of trading by relying on automated, rule-based decision making. While setting specific parameters can help define trading actions and potentially enhance consistency, it's important to understand that all trading involves risk. Market conditions can change rapidly, and past performance is not indicative of future results. Therefore, traders should use this strategy with an awareness of the market dynamics and their own risk tolerance.


I hope I solved your doubts, if not please reply to this post again I will try my best to clarify.
Wish for your profitable trading journey ahead!

Thanks
-Sanchay Kasturey

 

[BaniDouglas]

Well, im not sureif that is the true..i just looked at the results - This is a downtrend graph

Profit	Trades	stopLoss	takeProfit	iTrailingStart	iTrailingStep	iBullishX	iBearishX
-1053,77​	506​	0​	0​	0​	0​	0​	0​
2493,45​	390​	0​	0​	0​	0​	0​	1​
4489,10​	321​	0​	0​	0​	0​	0​	2​
5502,88​	287​	0​	0​	0​	0​	0​	3​
5951,52​	269​	0​	0​	0​	0​	0​	4​
6147,43​	259​	0​	0​	0​	0​	0​	5​
6245,90​	254​	0​	0​	0​	0​	0​	6​
6267,20​	253​	0​	0​	0​	0​	0​	7​

If you place zero in bull and in bear...you can see that it opens indeed the biggest amount of trades! so....a small value implies more open trades...

But...look at the profit....if you fix the bull in zero and the bear changes for the same parameters...it is a significant difference
and..the most important aspect that i see is that the number of trades between bear 3 to 7 is almost the same...

In a broad look...the more you increase the BEAR number...the higher the profit you have
In comparison, being BULL zero, it should buy like crazy and it doesn't do that

well..food for thought


not trying to explain how the GALFX works...just looking at numbers

Hello guys. New member here. Daniel is spot on. I tested the above as I have been battling with the settings since I bought the bot on the 1st Aug 2024. It is working perfect. It is magical. Thank you Daniel for your insights. Good information.

 

[lister]

Well, im not sureif that is the true..i just looked at the results - This is a downtrend graph

Profit	Trades	stopLoss	takeProfit	iTrailingStart	iTrailingStep	iBullishX	iBearishX
-1053,77​	506​	0​	0​	0​	0​	0​	0​
2493,45​	390​	0​	0​	0​	0​	0​	1​
4489,10​	321​	0​	0​	0​	0​	0​	2​
5502,88​	287​	0​	0​	0​	0​	0​	3​
5951,52​	269​	0​	0​	0​	0​	0​	4​
6147,43​	259​	0​	0​	0​	0​	0​	5​
6245,90​	254​	0​	0​	0​	0​	0​	6​
6267,20​	253​	0​	0​	0​	0​	0​	7​

If you place zero in bull and in bear...you can see that it opens indeed the biggest amount of trades! so....a small value implies more open trades...

But...look at the profit....if you fix the bull in zero and the bear changes for the same parameters...it is a significant difference
and..the most important aspect that i see is that the number of trades between bear 3 to 7 is almost the same...

In a broad look...the more you increase the BEAR number...the higher the profit you have
In comparison, being BULL zero, it should buy like crazy and it doesn't do that

well..food for thought


not trying to explain how the GALFX works...just looking at numbers

whats the timeframe use for this one daniel. tnx a lot

 

[vuhoang1]

excellent info , thank you ,this has helped clear things up for me and so far up 60% this month , live

Can you please help with my trade? Like what your pair and the setting that you use? Thank you

 

[TMic]

HI There, bought the bot yesterday. Today I am trying with a bit of an aggressive strategy. So far I am confused. The system seems to try and call tops and bottoms. I almost feel like trying to do the opposiite of what the bot does and see if that works better. Also it is going short and then a while later it is going long.. What? I assum eI have to close the short position manually then? Does anyone here have some guidance? I am trying the 30M chart with 4 x Bull 4 x Bear signals. 75 points SL and 150 points take profit. It seems the bot is very simple. No intellegence at all? Probably I am doing something wrong. But I find it odd that the bot is not simply trendfollowing but trying to time reversals.