Lot size customization
Leverage and Lot size
In MetaTrader, lot size is directly linked to leverage. Leverage is a tool that allows traders to trade larger positions than what their account balance would normally allow. When you increase leverage, you can trade a larger position with a smaller amount of capital. However, leverage also increases your potential risk, as you are essentially trading with borrowed money.
When you change the leverage in MetaTrader, the lot size you can trade will also change. This is because the amount of margin required to open a position will change depending on the leverage you are using. For example, if you are using a leverage of 1:100, you will need to have 1% of the trade value as margin in your account to open the position, while if you are using a leverage of 1:200, you will only need to have 0.5% of the trade value as margin.
As a general rule, as you increase leverage, you can trade larger lot sizes with a smaller amount of capital. However, it's important to keep in mind that as leverage increases, so does the risk. It's recommended to use leverage cautiously and to always ensure that you have enough margin to cover any potential losses. It's also important to use a leverage that is appropriate for your trading strategy and risk tolerance.
Slow, Fast, and Aggressive Settings
The Slow settings are designed to minimize losses and are best for 24/7 trading. The goal is to minimize risk of losses as much as possible, while making steady profits. For best performance, the bot needs to run 24/7 and usually makes a few trades a week.
The Fast settings are the best risk/reward option and are best for short periods. The goal is to get good profits while keeping an eye on losses. There is a possibility of losses, so it is suggested to monitor the bot while operating in Fast mode. The bot usually makes a few trades an hour.
The Aggressive settings are best for very short periods with your supervision. The goal is an aggressive style of trading, opening trades with high risk/reward ratios. The bot usually makes many trades an hour and has the possibility of high profits but also high losses if not used correctly. This setting is best suited for professional or advanced traders or for Demo accounts. Warning: High Profit/High Risk mode.
Just a friendly reminder, these are the settings that we use, but please remember that we are not financial or investment advisors. This is not investing advice, so always use your own judgment before deciding to trade live with real money. We want you to feel confident in your trading decisions and want to remind you to always do your own research and make informed choices.
Customize and Experiment with Galileo FX Settings
One of the great features of the Galileo FX trading bot is the ability to customize the settings to your liking. In addition to the Slow, Fast, and Aggressive settings provided, you can also experiment with new settings to find the best strategy for your individual needs. We encourage users to test different combinations and settings to find what works best for them. Remember to always keep an eye on your trades and never invest more than you can afford to lose.
Galileo FX Slow, Fast, and Aggressive Settings: A Roadmap to Successful Trading
To help you get started, we've included a table that lists the exact Slow, Fast, and Aggressive settings used by our team, these settings can be used as a solid base for you to begin with and after some time you can customize the settings to match your needs.