Galileo FX 2 - Official Thread

[David]

In the second version of Galileo FX, we are excited to announce that our focus will be on three critical pillars to increase profitability and minimize losses:

1. Improve the Accuracy of Consecutive Signals: We're optimizing our algorithms to increase the precision of the bullish and bearish signals our bot generates. This means fewer false positives and negatives and more successful trades.

2. Enhance Risk Management: Our upgraded version will feature an enhanced risk management system.

3. Increase User Customization: Our third pillar for improvement will be around user customization. We believe in empowering our users with more control over their trading strategies. So, we're working to add more options for custom settings, including the option to decide if the robot should buy or sell after X consecutive signals.

As we continue to improve Galileo FX, your feedback and ideas are invaluable.

If there's a feature you'd love to see, or if you have thoughts on how we can make Galileo FX even better, we'd love to hear from you.

Please feel free to share your suggestions and ideas with us, and help us shape the future of Galileo FX.

 

[bamaG1009]

I will like to see a feature where the bot could have 3 take profit levels so depending on the user set up and the market if there is reversed in the wind either one of the profit levels can get hit and close out without a significant loss.

 

[bamaG1009]

Also a feature where you can input a news filter option to close out trades during news (low, medium, high). And if you decide to use it for a prop firm challenge how about a EP (equity protector) and a feature to help keep drawdown to a minimum based on account size.

 

[papercuts]

There is a good technique used in "Technical Analysis of stocks and commodities" magazine called Relative Strength Volume Adjusted Moving Average. I've adopted the code into my trading bot in both Tradestation and in Tradingview as a filter on when to exit positions. Instead of using stop loss ...or even a take profit actually, This lets runners run and doesn't bail too soon because of some arbitrary take profit value. Take profit can be a "trim profit" but it should let things work until they don't work anymore, same as hedges do. You can reference the code in many languages from that article here:
http://traders.com/Documentation/FEEDbk_docs/2022/10/TradersTips.html

It'd be a nice thing to have a trim profit levels that are dynamic based of ATR, and then let the rest be a dynamic profit based off whatever the trend is doing, so that's my first feature request. ;P It locks in some profit so if things turn on it its not a loss, but it will also let it work. best of both worlds.
I am happy to share ideas with you team if they ever want to reach out. Helping Dev something like this could be cool.
-Joel (new pro user)

 

[HenktheTank]

New Feature 2: Implementing a Volatility Filter

This feature is intended to avoid entering trades during periods of low volatility or market consolidation, which are often characterized by limited price movement and lower trading opportunities.

The addition of a volatility filter to Galileo FX will allow it to avoid trading during periods of low volatility or market consolidation. These periods often result in fewer trading opportunities and can lead to increased risk.

To use this feature, you'll be able to set the number of periods and the ATR threshold that Galileo FX uses to measure market volatility. When the ATR falls below the defined threshold, Galileo FX will avoid opening new trades until volatility increases again. This helps to protect your trades from periods of uncertainty and potential loss.

Thank you David for this info. Cud u pls advise where in the settings we can change the ATR threshold ? Merci beaucoup !

 

[BoyJulito]

I would like to suggest features for V2 like 1) Account level TP/SL, this is useful when trading in Prop firms. 2) MA crossover (e.g., MA1, MA2, MA3), if using MA1 only when price crosses trigger either buy or sell at the close of the candle, for 2 MAs when fast crosses the slow MA, for 3 MAs when fast and moderate crosses the slow.

 

[nikbor48]

When will be v2 released?

 

[Chris]

I can see everyone is excited about V2.
We are working around the clock to make sure everything works as intended.
We will be releasing Version 2 as soon as we are satisfied with how it's working, but I can assure you this will happen sooner rather than later.
Stay tuned!

 

[Brando]

I can see everyone is excited about V2.
We are working around the clock to make sure everything works as intended.
We will be releasing Version 2 as soon as we are satisfied with how it's working, but I can assure you this will happen sooner rather than later.
Stay tuned!

Hi everyone,
I'm excited to hear that and hopefully this will give me the benefit I'm looking on the GFx bot

 

[Iqbal]

Sir, will this V2 close the trade on its own if the reversal is happening or about to happen? How about the premium settings? Will V2 work with existing premium settings, or the Premium settings are also getting V2 version?

Thanks
iqbal

V2 will be free for all V1 customers.

We are writing the code for the filters at this time. And we're also developing web apps to make installation easier. We also need to code a system to grant access to V2 to V1 customers.

The option to buy or sell after x consecutive signals has already been coded, tested and approved for release.

I hope we can release it as soon as possible. But before releasing it, I want to be sure that's a great improvement and that all features work well. We also stress test it under all kinds of market conditions. This requires time, but it's worth it, because the final result will be 10 times better than Galileo FX.

 

[ricniga20]

when is GFX-V2 coming out???

 

[holytrinitysir]

Maybe integrate AI to monitor the trends and change the bullish and bearish signals. That way it is more on autopilot. I'm a new user and it is confusing.

 

[guntram.m]

Gut zu wissen, dass diese Updates es noch brillanter machen.

More Brilliant ?? i hope it will be good... aktual Version ...... no words...just loooose and tell me go to your settings buy 5 times in a down trend .. and stuff like this... should be ..

 

[amirwanms]

I appreciate your eagerness to dive into the new update. Trust me, I share your excitement. Our team has been putting blood, sweat, and coding tears into Galileo FX v2 and we can't wait to share it with our valued users like you.

However, as you've come to expect from us, we are all about delivering a top-notch, reliable trading tool that you can confidently use in your trading journey. This means, we want to be absolutely sure that all features of v2 work flawlessly, not just in a few scenarios, but across a wide range of market conditions, with different brokers, and in various situations.

We all know how unpredictable the market can be. So, we're doing our due diligence to ensure that v2 is not just "good", but truly amazing, so that it serves you effectively no matter what the market throws at it.

I understand the desire for the latest and greatest, but remember, our existing Galileo FX v1 is a fantastic bot. It's been tried and tested by our community and continues to generate profits. So, while v2 is going to bring some exciting new features and improvements, there's no urgent need to update as v1 is still a very effective tool.

We're pulling out all the stops to make sure that v2 surpasses our clients' expectations.

Thank you for your understanding and patience.

Dear Mr.David,

Well done in championing the FX World of illusions. Where money is spent without your knowledge of how it happen.It must be greed.

I have spent some time trying the demo and i find the drawdown is pretty high. Even when it hits TP it still wont close. If this product is a plug and play thing i guess everyone in this forum would have been a milionaire by now. So how giving us users to have refund in 30days after even we take up the installation and premium settings package. I guess that would be fair.

We are all trying our best to understand in Galileo website those posting achievement is real also sure as for now in Sept 2023 no users have posted a well done message and proud to show of their perfect tunning. The Money Back Guarente scheme thing will surely boost your sales apart from the 3rd party acknowledgement of Galileo performance.

So how about it, we buy the package installing service and premium bundle setting and if still fails then we have option to obtain 50% less from the purchase price as refund amount.

Lastly, i am proud of Galileo Team for ensuring the Bot works in terms of write up and pictures and not forgetting support team achievement in ensuring each problem is recorded and showed of to the world that it is closed with perfection and solution in ready in hand.

Please Sir, if you love Galileo do gives us the support to ensure that your success is our success as well in this FX World of illusion.

I beg if you could setup for me and comeback in 7 days and see for your self the product performance,

 

[Akram]

New Feature 3: Enhanced Signal-Based Trading Option

This upgrade is designed to extend the existing signal-based trading capability by allowing Galileo FX users to choose between buying or selling after 'X' amount of bullish or bearish signals, providing an additional layer of customization to align the EA's trading strategy more closely with individual trading philosophies.

In the current version of Galileo FX, the signal-based trading mechanism is already in place. However, it follows a predetermined pattern: opening a sell order after 'X' number of bullish signals and a buy order after 'X' number of bearish signals. This pattern works on the principle of contrarian trading, aiming to exploit potential market reversals.

In the Version 2 of Galileo FX, we're enhancing this feature by giving you more control over your trading decisions. Now, you'll be able to choose whether Galileo FX should buy or sell after 'X' amount of bullish or bearish signals. This flexibility allows for both contrarian and trend-following trading strategies. For instance, you could set Galileo FX to open a buy order after 'X' number of bullish signals (trend-following) or a sell order after 'X' number of bullish signals (contrarian), based on your analysis and market perspective.

This improvement in signal-based trading opens up new strategies for Galileo FX users, making it more adaptable to different market conditions and trading styles. Nevertheless, it's crucial to balance this feature with a comprehensive understanding of the market environment and a robust risk management strategy. Remember, while this feature provides greater control and adaptability, it doesn't substitute for mindful and informed trading.

Amazing @David
Any updates on v2?
If you need testers, I'm willing to participate, like...yesterday

 

[johnvam]

Any updates on v2?

 

[falco100]

Any updates on v2? Or a release plan when the v2 beta will come?

 

[Vinz]

Any updates on v2? Or a release plan when the v2 beta will come?

according to David it must be released by next year

 

[Scout66]

yes, here you just check only short or only long View attachment 421

MT5 does not have this setting though.

 

[Chris]

MT5 does not have this setting though

Send me an email over at [email protected]

 

[Aus]

We are all excited about GalileoFX V2. Is there any chance the version 2 EA will be released anytime soon?