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Share Your Challenges with Galileo FX

David

David

Founder & CEO @ Galileo FX
Staff member
I'm here to listen to your challenges. We're in this together, and every problem shared is a problem halved. Your feedback is our guiding light, and we're committed to making your experience with Galileo FX even better.

A quick share from our side—we've published 20+ more verified results on MyFxBook today. But, we're also wrestling with developing the new version—it's a challenge we're excited to conquer.
 
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hi, i am new member here and i have a basic problem. The bot is good when you play with the history data ,ex,last week ,but what happens with the new one.whats the basic steps to make. How you optimize it for the unknown,range ,trend .reversal.thanks
 
nasos said:
hi, i am new member here and i have a basic problem. The bot is good when you play with the history data ,ex,last week ,but what happens with the new one.whats the basic steps to make. How you optimize it for the unknown,range ,trend .reversal.thanks
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Welcome to the community.

It's great to see you're ready to dive into using the Galileo FX bot. This tool is a powerhouse for trading on the Metatrader platform, using real-time data to make smart decisions. However, preparing it for future unknowns takes some strategy, regular checks, and a bit of human touch.

Here's your game plan:
  1. Pick Your Markets: Decide which markets the bot should trade. Each one – Forex, Gold, Cryptocurrencies – behaves differently. Adjust the bot's settings to fit these markets.
  2. Use Multiple Charts: Run Galileo FX on multiple charts at the same time. Try different settings and assets. This way, you can quickly find out which settings work best. For example, use 5 different assets on two different time frames, each with different Galileo FX settings. Then, monitor the trades and see which combinations are most profitable.
  3. Adjust Settings: Change settings like the number of bullish/bearish signals, take profit, and stop loss levels. A higher number of consecutive signals (like 9 or 10) could lead to more accurate trades.
  4. Choose Time Frames: Try running the bot on different time frames. You might see different trends on each one.
  5. Check and Adjust: Keep an eye on your bot. If it's not doing well with a low number of consecutive signals, try increasing this number.
  6. Manage Risk: Use strict risk settings when you can't watch the bot, like at night. This helps protect your capital from sudden market moves.
  7. Select Stable Assets: Trade more stable assets like Gold or Indexes if you want less risk. These are usually less volatile than high-volatility assets like Bitcoin.
  8. Test the Bot: Run the bot in a demo account before you go live. This way, you can see how it works without risking real money.
  9. Stay Informed: Keep up with market news. Big economic events can change market conditions.
Settings Page
Importantly, we have a page with historical settings that have performed remarkably well. As a new user, you can begin your journey by exploring this page. Use these settings as a foundation and try tweaking them to suit your specific needs.

Remember, Galileo FX is a powerful tool, but it still needs a good operator. Your active involvement, combined with your understanding of the market, can make a huge difference. Always make sure your strategies align with your financial goals and risk tolerance. Good luck, and happy trading.
 
Can someone explain the settings of Consecutive signals Bullish - Bearish, and the logic behind, since for us traders, who are not familiar with coding and making the EA, it is not quite understandable
 
Hi Emma,

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.

More details here: https://store.galileofx.com/pages/features


Hope this helps,
Ronald
 
Ronald said:
Hi Emma,

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.

More details here: https://store.galileofx.com/pages/features


Hope this helps,
Ronald
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Thank you so much for the explanation (y):)
 
Kendallr said:
I have been struggling to get good results and after speaking with The Galileo team they said not everyone will have the same results based on the markets they trade, currency pairings they trade, what server and platform they use and where they live. I understand that, although I didn't realize that going into this. I have several questions and suggestions around this. One, I am in the United States. Are there others from the USA that are seeing good results from the bot? I would love the connection. Two, I keep getting told to keep tweaking the settings, but I think there needs to be some guidance. For example, if you zoom out at the daily chart and you see a downward trend for the last few months than you will want to have the bot go in more often on the bearish side so have your bearish number on the lower end to have the bot initiate a sell order considering the overall streak is downward. I just made this up, but I assume this is true? I think more guidance around how we can make tweaks would help. Also, if the markets are different for everyone based on where they live then I am not sure why the premium settings are a thing. I have the premium settings and they didnt net good results. I have tweaked them from let's say a 4-7 bullish bearish to a 3-6 or 5-8 and that doesn't do much. I was hoping Galileo would have tested the Bot in my market/ country as thats what I assumed when I bought it. Any help would be appreciated to get good results.
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Market prices are the same, no mater where you live, regarding the price of financial instuments, but what is different is broker service, there are some good some very good and some less good and there are complete scam brokers, so check also the thread about it....
 
Kendallr said:
Hey Emma, I use Forex and Meta Trader. I use a VPN too. I should be fine with that since they are widely used and trusted. Take a look at my buy orders below that are currently happening now. I am showing charts on the M1, M15 and M30 so you can see the trend patterns. Look at where my buy orders are? I feel like they should be the direct opposite and should be sell orders. I mean, look at the trend, look at the RSI, look at the channel its been in. Its literally placing buy orders when its at a high and once the immediate trends starts to go down. @David any advice here? Is there a way to tweak my bot to do the opposite of what its been doing?
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I strongly advice to get back on the demo, and find out what really works for you, check all the settings and all the instruments,. They don't emphasize that, but it is the first lesson to stick with the risk rules. And if you load aggressive settings on m5 or m1 the robot will open so much trade, even with 0.01 lot, you will soon have more than 0.2 and more cumulative trades...so if you have small account that can ruin it. So be aware of it,...Get more equity and stick with the small lot size and on h1 or higher if you don't have enough money on the acc.....that is my humble observation ...Cheers
 
Hi Guys, I am busy finding my way. When you talk about consecutive bullish/bearish signals, what specifically are you referring to? Are these built in indicators, no of candles ? I am trying to analyse how the system works but am a bit confused currently. If there is a guideline on this, please let me know.
 
I am starting humble, but I like it soo much so far. Very happy with this small profit my settings are 3 -3 bullish and bearish signals, SL 200, TP 200 but I sometimes close the trade manually....
1693989923755.png
 
David said:
I'm here to listen to your challenges. We're in this together, and every problem shared is a problem halved. Your feedback is our guiding light, and we're committed to making your experience with Galileo FX even better.

A quick share from our side—we've published 20+ more verified results on MyFxBook today. But, we're also wrestling with developing the new version—it's a challenge we're excited to conquer.
Click to expand...
Hi David ,

I have tried the Galileo FX EA for the last 2 weeks , here is how is has worked out on various settings , including some of the settings you get when buying this EA , out of a 116 trades , 52 losses , only 2 trades reached the TP ,the other 62 trades I won as I monitored them and closed them myself while they still had a positive amount in the trade , however the wins were much smaller than the losses , the wins may be more but in terms of profit ,I'm in losses, I will keep trying to experiment with the settings.
 
Natasa said:
I am starting humble, but I like it soo much so far. Very happy with this small profit my settings are 3 -3 bullish and bearish signals, SL 200, TP 200 but I sometimes close the trade manually....
View attachment 1351
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Hi Natasa

If you don't mind me asking ,what timeframes are you using and do you set a trailing stop loss?

John
 
David said:
I'm here to listen to your challenges. We're in this together, and every problem shared is a problem halved. Your feedback is our guiding light, and we're committed to making your experience with Galileo FX even better.

A quick share from our side—we've published 20+ more verified results on MyFxBook today. But, we're also wrestling with developing the new version—it's a challenge we're excited to conquer.
Click to expand...
Hi David, happy Sat, I get it if yur not on being Sat! Thought still ask since activating auto Sun night for open on Mon. If I set bullish at 0 and bearish 0, and since I set alerts to long only, wouldn't auto start almost immediately since bearish is 0??
Thx!
Gus
 
Any recommendations for working around fifo restrictions? I have noticed that when I set my Max Orders higher than 1 I get too many open orders and start pushing toward margin calls. I know I can just set it to 1, but I don't feel like GFX works optimally on that setting.
 
Elgringodiablo said:
Any recommendations for working around fifo restrictions? I have noticed that when I set my Max Orders higher than 1 I get too many open orders and start pushing toward margin calls. I know I can just set it to 1, but I don't feel like GFX works optimally on that setting.
Click to expand...
To elaborate a little on this, if I set max order higher than 1 I get errors like the below:
2023.10.02 02:45:03.115 'XXXXXXXX': order buy 0.01 EURUSD opening at market sl: 1.04858 tp: 1.05936 failed [Hedge is prohibited]
 
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