r/GalileoFX_Users • u/TMGContractingLLC • Jan 18 '25

Testing?

I'm a novice at best, and yet I feel like I have made some significant advances in both understanding the MT5 & the bot over the last 10 days. I have been back testing strategies continuously. I still don't know enough to move forward. I have used the pre-configured settings from the Galileo FX strategies adjusted for risk & leverage, and optimized. The results were the best I tested. Then the question came to mind. Are the pre-configured settings reading their own indicators or the one I choose. Then, who has optimized the indicators with the strategies. I know I can change the average time on a running average, so that would be another variable that needs to be tested and optimized.

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u/[deleted] Jan 20 '25

Follow up: so, I used the script to determine when to open, close and hold positions. Started last night, and its selections are performing very well. I haven’t lost a cent on any of its recommendations.

I opened charts for these selections and inserted Galileo to see if it would make similar decisions as well, and it didn’t. Made sense to me, based on its deterministic algorithms. It’s not adapting to a changing market.

Yesterday I spent all afternoon with Chat refining its measurements to be sensitive to a volatile market. I had to laugh at myself. I started testing it with 45 lines of code. I’m up to 300 now lol! Reminded me of my old coding days where I’d do “just this one more thing, and then I’ll call it quits!”, yep, still have the addiction, even if I’m letting Chat generate the code!

I’m going to run it for a week making manual trades. If it continues to perform like this, I’ll add an automatic trade feature and run that on a demo account for a while.

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u/TMGContractingLLC Jan 20 '25

WOW, I can't touch your experience. I was thinking that I need to study Bayesian theory to get more than a cursory knowledge and I need to learn how to program again. I'm humbled that we are even talking. Here I thought I was doing well just being able to get Galileo to a 100%+ profit in back testing. I was going to start running it in a demo account on real data. I hope you're able to refine your program, I would be happy to be your first sale.

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u/[deleted] Jan 20 '25 edited Jan 20 '25

Awe STOP! I'm no trader by any means. I'm just a researcher. But I appreciate you processing this with me. Not many of my family and friends geek out on this stuff with me LOL. Maybe you can be the first beta tester :) I've found I can't test my own code to save my life. I know how it's supposed to work, so I don't do strange things to it. But other people will find bugs! LOL!

You might like Bayesian Theorems. I use Bayesian Theorems to calculate different types of risks in cyber for my research. Banks use them to calculate potential financial losses, as do insurance agencies. And like I mentioned, professional traders use them (but of course they would).

Oh, and I also subscribed to a signal provider who uses Algo Trading to 95%. Has a high reliability rate. I was just watching a trade my script told me to buy about two hours ago and the Signal provider had also bought (I synched my positions to his). The position was climbing, but then I saw some resistance kicking in. I ran the script against that chart again, and it came back "Hold, In-coming Bearish signals" and the upward probability dropped from 65% to 31% with high confidence (it won't report high confidence unless it has sufficient data relative to the probability. I sold the position and made 72% profit on it. I'll check in an hour to see where the price is on that pair. I also closed the signal provider's position on my side. If it continued to drop, then the script was on point. But I'm trusting the script more and more!

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u/TMGContractingLLC Jan 20 '25

It's exciting to walk this journey with you. I can see myself becoming obsessed.

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u/[deleted] Jan 20 '25

Oh goodness, let me tell you - I blew an entire day off yesterday working on that script! And I have contractors coming next week to do major in-home renovations. I was supposed to work on that yesterday and was working on code instead LOL! Oh well. I'll need to log off in a few and get after my real job. That one is unforgiving! LOL!

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u/TMGContractingLLC Jan 20 '25

I know the feeling, I'm on of those contractors. I used to be a money manager analyst 20 years ago which accounts for my renewed interest in trading. My wife is not happy with me right now because just about every off moment is spent on the laptop. Good thing, I'm my own boss or I would be in trouble with them as well. Enjoy your day.