PRESETS FOR LAST WEEK BACKTEST (MAY 22-27)

[Vinz]

Hello guys and to all my fellow traders

I hope this message finds you in good spirits. I am thrilled to share some exciting news with you today. Last week, I stumbled upon a set of EA presets during my backtesting sessions that have shown promising profitability. I wanted to take this opportunity to inform you about this discovery and encourage you to consider incorporating these presets into your trading strategies.

During the extensive backtesting process, I meticulously evaluated these presets across various market conditions and timeframes. The results were remarkably positive, with consistent profits generated over a significant period. While past performance does not guarantee future success, these presets have demonstrated a strong potential for profitability. Pls see Attachment below and always remember about risk management guys , if you have any question feel free to ask me

 

[Cytique]

Dear Vinz,
May I ask what is your take profit & stop loss settings?? I saw some of your settings that you do not place a stop loss

 

[Cytique]

Hey Vincent, what about your stop loss & take profit settings?? When you set the risk to 0.5% does it mean that the stop loss & take profit is automatically set?? Thank you

 

[Vinz]

Hey Vincent, what about your stop loss & take profit settings?? When you set the risk to 0.5% does it mean that the stop loss & take profit is automatically set?? Thank you

Hello Cytique, I usually put the take profit you may see it in link under fxbook with settings.,however the sl , I just put it in percentage not in points,therefore if the negative reach about 0.5%it will automatically close.

 

[Vinz]

Hey Vincent, what about your stop loss & take profit settings?? When you set the risk to 0.5% does it mean that the stop loss & take profit is automatically set?? Thank you

I put the take profit in points however the risk per trade i put it in percent which is %0.5once this limits triggeres it will stop out the trade. you cwn change it actually by adjusting it to much lower risk specially when your using big lotsize.hope this helps.

 

[Cytique]

Alright I will try it. I've been trying it for a day & don't really understand what's going on. Been losing alot on the Demo account. So although the % is set, on the chart I won't be seeing the StopLoss line issit??

 

[Cytique]

Another question Vincent, if you don't mind.. What determines the higher or lower number of consecutive bull/bear signal in how you adjust??

 

[Vinz]

Alright I will try it. I've been trying it for a day & don't really understand what's going on. Been losing alot on the Demo account. So although the % is set, on the chart I won't be seeing the StopLoss line issit??

Another question Vincent, if you don't mind.. What determines the higher or lower number of consecutive bull/bear signal in how you adjust??

Hello cytique It depends on your backtest, you can adjust the parameters and find the most profitable settings with their respective timeframe . please see under this thread https://galileofx.community.forum/forums/settings-strategies.6/ and find fxbook with link settings

 

[Michaelplachta]

Hello guys and to all my fellow traders

I hope this message finds you in good spirits. I am thrilled to share some exciting news with you today. Last week, I stumbled upon a set of EA presets during my backtesting sessions that have shown promising profitability. I wanted to take this opportunity to inform you about this discovery and encourage you to consider incorporating these presets into your trading strategies.

During the extensive backtesting process, I meticulously evaluated these presets across various market conditions and timeframes. The results were remarkably positive, with consistent profits generated over a significant period. While past performance does not guarantee future success, these presets have demonstrated a strong potential for profitability. Pls see Attachment below and always remember about risk management guys , if you have any question feel free to ask me

Hey Vinz, are your take profit and stop loss in pips? They just seem extremely high if so. I just want to make sure I am reading this right.

 

[Ernest]

Hello Cytique, I usually put the take profit you may see it in link under fxbook with settings.,however the sl , I just put it in percentage not in points,therefore if the negative reach about 0.5%it will automatically close.

Hi, Vinz, is it mean you do not set SL on settings and closing trades manually when it reaches -0,5% of your capital per trade? Is it correct? There's is no option to put SL in percentage, just points.

 

[Vinz]

hello do you mean you want to trade multiple currency pairs and how to set it up?

 

[Russel]

yes, I only have the pairings they set up for me which doesn’t include the ones you are backtesting. Not sure how to add more and how to add the difference times I want to trade off of.

Hi there!
You can check this link on how to add more pair/charts.

 

[MadMartinB]

Hello guys and to all my fellow traders

I hope this message finds you in good spirits. I am thrilled to share some exciting news with you today. Last week, I stumbled upon a set of EA presets during my backtesting sessions that have shown promising profitability. I wanted to take this opportunity to inform you about this discovery and encourage you to consider incorporating these presets into your trading strategies.

During the extensive backtesting process, I meticulously evaluated these presets across various market conditions and timeframes. The results were remarkably positive, with consistent profits generated over a significant period. While past performance does not guarantee future success, these presets have demonstrated a strong potential for profitability. Pls see Attachment below and always remember about risk management guys , if you have any question feel free to ask me

I made my changes to Bull/bear but your excel does not show the stop loss and profit in points. Do we use preset numbers there?

 

[Vinz]

I made my changes to Bull/bear but your excel does not show the stop loss and profit in points. Do we use preset numbers there?

I posted every monday the presets and backtest reults with summary of wins and losses in this thread and the link for the fxbook link with settings shows the take profit i points . I dont usually put stoploss in my backtest but you can modify it on your own just remember to follow your risk management.

 

[Vinz]

I will have to try this ji

Thanks. That helps me add a pairing but the real issue is I want to have different timeframes set up for the same pairings I have. When I add a new pairing the bot doesn’t show up on either. I want to trade EUR/USD for example on H1 with certain bullish and bearish settings and then also set up M5 and M15 settings. Is there a video for that?

I will still have to study this , once Im done I will inform you.

 

[Vinz]

I will have to try this ji

Thanks. That helps me add a pairing but the real issue is I want to have different timeframes set up for the same pairings I have. When I add a new pairing the bot doesn’t show up on either. I want to trade EUR/USD for example on H1 with certain bullish and bearish settings and then also set up M5 and M15 settings. Is there a video for that?

I will still have to study this , once Im done I will inform you.

 

[Flappergirl20s]

I bought the Galileo bot a couple years ago and have mostly been using it on my demo account as it takes a good while to fine tune the settings for whichever pairs you choose to use. I have found that gold (XAUUSD) trades the best. I don't trade the euro as it's too volatile so I chose USDCAD and USDCHF instead and the bot has been very profitable for the most part with my settings. I use a conservative lot size for each of the 3 pairs I trade at 0.10 and 0.15 but I experiment back and forth until I get the best results for the combo I chose. Of course when United States Fed Chair Jerome Powell opens his big mouth and hikes the interest rates AGAIN to calm the inflation caused by the left, the market goes haywire!!! And my trades stay in limbo in downdraw for awhile. Some I have to manually close out in a loss on occasion as the stupid swap fees accumulate especially higher for gold! But other than that, it's been productive for the most part! I set each pair to trade both long and short, then open 1-2 trades per pair depending on how much my balance is at the time and set them to M5 and 4 for Consecutive Bullish Signals and 5 for Consecutive Bearish Signals. I then set my stop losses at around 5000 pips and take profit at 80 pips. This helps to open more trades and close them at a faster rate although some do get caught in a downdraw for most of the day into the next day or two then close out on their own once they reach TP. Because of these settings, I've had 99% profits daily! The amount I make varies day to day but it averages around $125/day. Since April 6th when I started my new demo account on my MT4 broker, I've turned $1000 into $4500! I do cheat sometimes manually placing US30 trades which most have ended in profit. Seldomly do I have to close one out with a good sized loss tho. I'm hoping to start trading my live account this month provided everything is correctly in place to do so! This bot has made trades for me overnight and I wake up to profits just about every morning! I have the Pro version and can verify it is the best! I just wished the bot was set up to use on more than one demo account and live account! Other than that, the Galileo bot is highly recommended! I do hope the developers will change the settings to where separate settings can be placed on Long and Short tho.

 

[Ernest]

I bought the Galileo bot a couple years ago and have mostly been using it on my demo account as it takes a good while to fine tune the settings for whichever pairs you choose to use. I have found that gold (XAUUSD) trades the best. I don't trade the euro as it's too volatile so I chose USDCAD and USDCHF instead and the bot has been very profitable for the most part with my settings. I use a conservative lot size for each of the 3 pairs I trade at 0.10 and 0.15 but I experiment back and forth until I get the best results for the combo I chose. Of course when United States Fed Chair Jerome Powell opens his big mouth and hikes the interest rates AGAIN to calm the inflation caused by the left, the market goes haywire!!! And my trades stay in limbo in downdraw for awhile. Some I have to manually close out in a loss on occasion as the stupid swap fees accumulate especially higher for gold! But other than that, it's been productive for the most part! I set each pair to trade both long and short, then open 1-2 trades per pair depending on how much my balance is at the time and set them to M5 and 4 for Consecutive Bullish Signals and 5 for Consecutive Bearish Signals. I then set my stop losses at around 5000 pips and take profit at 80 pips. This helps to open more trades and close them at a faster rate although some do get caught in a downdraw for most of the day into the next day or two then close out on their own once they reach TP. Because of these settings, I've had 99% profits daily! The amount I make varies day to day but it averages around $125/day. Since April 6th when I started my new demo account on my MT4 broker, I've turned $1000 into $4500! I do cheat sometimes manually placing US30 trades which most have ended in profit. Seldomly do I have to close one out with a good sized loss tho. I'm hoping to start trading my live account this month provided everything is correctly in place to do so! This bot has made trades for me overnight and I wake up to profits just about every morning! I have the Pro version and can verify it is the best! I just wished the bot was set up to use on more than one demo account and live account! Other than that, the Galileo bot is highly recommended! I do hope the developers will change the settings to where separate settings can be placed on Long and Short tho.

Thanks for sharing, great results. Are 5000 and 80 pips or points? How did you set up Bot 50000 and 800?

 

[Flappergirl20s]

Thanks for sharing, great results. Are 5000 and 80 pips or points? How did you set up Bot 50000 and 800?

Those are pips. If you use a low enough lot size, you can use large stop loss gaps for less drawdown amount but very rarely does it even come close to 5000 pips! And the smaller gap size between point of open trade to take profit will close out your trades much quicker! It's a very delicate balancing act but after months and months of testing it on my demo account, that has enabled me the ability to fine tune my settings right where I need them to be to give me a good sized list of all profit trades! In order to use these settings, just go into your smiley face icon at the top right hand corner of every pair chart on your PC and change the settings to my recommendations and watch what happens. It's even profited when big news comes out about our economy. But I will tell you that news stories quickly affect the markets and your trading so carefully monitor your trades during those moments and pay close attention to the news as they will warn you ahead of time of any sort of occurrences that are predicted to happen. Sometimes they don't come to fruition but usually they do. Conservative settings are key regardless of how much your balance is! If I had $10K balance, I'd still use conservative settings although I'd raise the lot sizes slightly higher. And the number of trades per pair you allow the bot to open is another important key feature! I've been switching back and forth from one to two now that the bot significantly raised my balance which has made my demo account more money at a faster rate but also increases the risk! Just do trial and error and use your best judgement off the suggestions I gave you and you should be fine.

 

[Ernest]

Those are pips. If you use a low enough lot size, you can use large stop loss gaps for less drawdown amount but very rarely does it even come close to 5000 pips! And the smaller gap size between point of open trade to take profit will close out your trades much quicker! It's a very delicate balancing act but after months and months of testing it on my demo account, that has enabled me the ability to fine tune my settings right where I need them to be to give me a good sized list of all profit trades! In order to use these settings, just go into your smiley face icon at the top right hand corner of every pair chart on your PC and change the settings to my recommendations and watch what happens. It's even profited when big news comes out about our economy. But I will tell you that news stories quickly affect the markets and your trading so carefully monitor your trades during those moments and pay close attention to the news as they will warn you ahead of time of any sort of occurrences that are predicted to happen. Sometimes they don't come to fruition but usually they do. Conservative settings are key regardless of how much your balance is! If I had $10K balance, I'd still use conservative settings although I'd raise the lot sizes slightly higher. And the number of trades per pair you allow the bot to open is another important key feature! I've been switching back and forth from one to two now that the bot significantly raised my balance which has made my demo account more money at a faster rate but also increases the risk! Just do trial and error and use your best judgement off the suggestions I gave you and you should be fine.

Thanks for the replay, but can you exactly explain what numbers of TP and SL you put in the Bot, in the bot is points not pipis, what numbers are in your settings for TP and SL, please?