By Mike Downs
Volatility in the Forex market can destroy your account in seconds. In this 5 trillion dollar-a-day market, there’s little room for error.
“95% of all traders fail” is the most commonly used trading-related statistic around the internet. But no research paper exists that proves this number right. Research even suggests that the actual figure is much, much higher.” 1
You see, trading can be a gut-wrenching experience, or it can be wonderful and liberating. If you don’t have the proper tools to do the job, you can guess which side you’ll be on.
One tool that can up your odds of winning, and keep you out of the 95% of traders who fail is the Galileo FX Pro Robot.
Setup is easy, taking less than 5 minutes and there are no monthly fees. For those who aren’t familiar with installing an EA, optional installation services are available.
Galileo FX Pro is equipped with practical resources that are fitting for new users like an online forum on the website, an easy to understand user guide, and documentation that shows the most optimized settings.
After receiving an email for the download file, I went to the website to find that not only was there a tutorial on how to install the robot, but there were recommended settings as well.
Following the guide was a huge help because I was able to see the optimal settings for all time frames and markets. This was good to establish a baseline to see how and if I could maximize the settings on the timeframe that I chose to use.
So, I downloaded the software and loaded it into my MT5 terminal. BOOM, it was off to the races in a matter of minutes!
The first thing I wanted to do after deciding what pairs I wanted to trade was to adjust my settings for the 5-minute chart.
The pairs that I decided to trade were AUD/USD, EUR/JPY, and USD/JPY.
I used a position size calculator to have the ATR available.
This will tell me the average of the last 14 candles so I can adjust my take profit, or just get out of the trade if I wanted to.
I wanted more control over adjusting as the market moved instead of letting the program run on its own.
A trade I entered on EUR/JPY. The yellow line is the 150-day SMA I used to help identify trends. The red horizontal lines are recent highs and lows.
I wanted to see how it performed in certain areas, and how it traded with trends.
At this point, I was starting to see how profitable Galileo FX Pro could be, even if someone decided not to use the most aggressive trade settings. Getting in and out of a few trades and not sitting there staring at the screen until my eyes dried out was fantastic.
Without making any adjustments, I immediately entered another trade on EUR/JPY.
Within a few minutes, the trade closed out after hitting the profit target on the next candle.
Again, I started to see the potential of the software after trading two pairs with good results.
Being able to make adjustments to the settings quickly is key as market conditions can change fast, especially on lower time frames.
AUD/USD was the first pair that I traded when I downloaded the software and loaded it into MT5. It usually doesn’t have any wild movement unless there’s a high-impact news event.
After checking the news, and seeing that no high-impact events were coming up, I decided to go for it.
The results were quite impressive with the automated experience too.
There was also success on USD/JPY.
I honestly had my doubts about Galileo FX Pro as I have used several trading robots in the past with minimal to no success, but after one week of testing I have seen first hand that the software can be profitable.
Not only is the software impressive, but so is everything on the back end as well.
I asked a question just to see the response time, and someone got back to me right away.
Being big on customer service especially in the trading industry is pivotal to maintaining success, and retaining clients.
User-friendly with the ability to adjust on the fly while using any time frame makes Galileo FX Pro a great tool to have in your trading arsenal.
The preset lists that come equipped are helpful for all traders whether seasoned or new.
If you want to sit and manage your trades, or automate them it’s wonderful to have the option for both, and there is no wrong way to go about doing so.
No matter your experience level you can start using the software right away, and see immediate results. I highly recommend using Galileo FX Pro and immersing yourself in the community.
With tons of support, and a variety of tools there’s no way you won’t be successful.
References
- Trading Wisdom, Common. “Scientist Discovered Why Most Traders Lose Money – 24 Surprising Statistics.” Tradeciety, Common Trading Wisdom,
- https://tradeciety.com/24-statistics-why-most-traders-lose-money.
Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.
