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.

 

[David]

New Feature 1: Implementing a Trend-Filtering Mechanism

This feature is aimed at ensuring that trades are made in the direction of the broader market trend, thus reducing the risk of opening positions that go against the trend.

With the addition of a trend-filtering mechanism, Galileo FX will now be able to better adapt to the changing market conditions. When enabled, this feature will prevent Galileo FX from opening positions that are contrary to the broader market trend. This helps to mitigate risk and potentially improve profitability.

 

[David]

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.

 

[David]

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.

 

[herjoseph64]

Please send us the update version for improvement if you have. thanks

 

[David]

Please send us the update version for improvement if you have. thanks

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.

 

[melnikovmusic]

Hi good info
when can we expect the update to arrive?
will it be $ to update or free to existing customers'?

 

[David]

Hi good info
when can we expect the update to arrive?
will it be $ to update or free to existing customers'?

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.

 

[UliG]

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.

I think it´s a good idea making it more adaptabel to different balance. But is it the wish of most of the uses to be more individual?
For me for example its important to do as fewer as effordabel. I expect from a good bot to do this.
It´s always the same question: What do you want?
For me I would be more than happy only to choose the market the lots and the risk. All the other decision should do the bot.

 

[Muhammad Ahsan Zaman]

Good to know about these updates making it more brilliant.

 

[melnikovmusic]

Thank you , sounds bright future for the bot and the community looking forward for the update.

 

[Brando]

Hoping for a better and more profitable trading with this updated version of bot,great job to the Galileo Fx team

 

[peterle57]

Ich denke, ein Bot ist wie ein Baby, es ist unser "Baby." Es werden „gute Strategien gefüttert“, die Wachstum und Intelligenz hervorbringen. Und vielleicht kann es eines Tages viel unabhängiger laufen, ohne dass wir ständig korrigierend eingreifen müssen – aber im Moment freue ich mich, dass das Galileo-Team uns auffordert, darüber nachzudenken, was es braucht, um ein gesundes Wachstum zu erleben. Vielen Dank also an die Entwickler, die ständig an Version 2 arbeiten.

 

[peterle57]

think a bot is like a baby, it's our "baby." Good strategies are "fed" that produce growth and intelligence. And maybe one day it can run much more independently, without us having to constantly take corrective action - but for now I'm happy that the Galileo team is asking us to think about what it takes to experience healthy growth. So thanks to the developers who are constantly working on version 2.

 

[princezane]

When I purchased the premium settings I was told that I would get the optimum settings the team finds whenever it changes. Great. What about a feature in V2 where we can toggle a setting that will automatically load the premium settings the team sets that way it can adjust automatically by polling some central repository - offering those of us who paid the extra money a bit of automation and potential hands off opportunities that so many strive for?

For example, right now Vinz is posting his back test results/settings on the forum. Instead, we could tick a box and every Monday morning Galileo looks for Vinz's settings at your central office and populates itself. Users can then make any tweaks they wish as far as risk management, etc.

 

[Bill]

@David., I wonder if there is the potential in the roadmap where there is the use conversation language with the Bot in order for it to assess your investment goals, and to assist by supporting your decision with regards to this by offering a couple of variations. eg " Bill, there is noticeable weakening trend emerging in the last 14 H1 periods in GBPUSD market. We rate this as X/10 with likelihood continuing a factor of Y. ATR is 20pips or 200 points. Please consider reviewing your Bear Bull signals to reflect this change." < insert other relevant caveats here as well>

There's likely a more condensed version than this. No doubt covered in presets but this would be more dynamic than that.

 

[darmitage]

When I purchased the premium settings I was told that I would get the optimum settings the team finds whenever it changes. Great. What about a feature in V2 where we can toggle a setting that will automatically load the premium settings the team sets that way it can adjust automatically by polling some central repository - offering those of us who paid the extra money a bit of automation and potential hands off opportunities that so many strive for?

For example, right now Vinz is posting his back test results/settings on the forum. Instead, we could tick a box and every Monday morning Galileo looks for Vinz's settings at your central office and populates itself. Users can then make any tweaks they wish as far as risk management, etc.

I love this idea, but is this even possible within metatrader?

 

[darmitage]

It would be a huge help to be able to set Stop Loss in %

 

[COiSmanFX]

Will V2 have the option to only trade Long of only Short trades?

 

[Emma]

Will V2 have the option to only trade Long of only Short trades?

yes, here you just check only short or only long