“We’re Not in Wonderland” CEO of Galileo FX Debunks Industry’s Profits-Only Narrative
AREZZO, ITALY – July 19, 2023 – In the high-risk, high-reward world of financial trading, one often overlooked adversary silently chips away at profits: losses. Traditionally, trading product manufacturers have painted a picture of potential profits, overlooking the inherent reality of trading – losses are the biggest part of the game. This approach, while appealing to optimistic traders, has led to a stark disconnect between expectations and reality, culminating in a crisis of trust in the industry.
According to a 2022 survey by the Financial Conduct Authority (FCA), nearly 82% of customers lose money in derivatives trading. This statistic underscores the essential truth – trading is as much about managing losses as it is about reaping profits.
In light of this, one firm, Galileo FX, is shaking up the industry. Helmed by industry veteran Davide Materazzi, the algorithmic trading software firm acknowledges the importance of confronting the issue of losses and equipping traders with necessary tools to manage them effectively.
“It’s time the industry stops promoting fantasies of effortless profits. Trading losses aren’t a probability, they’re a certainty. We’re in the business of hard truths, equipping traders with innovative tools to navigate these inevitable downturns, not sugarcoating the challenges. Our aim? Resilient traders, armed with strategies to keep losses to a minimum.” says Materazzi.
Guiding traders through the minefield of losses, Galileo FX promotes a realistic and pragmatic approach to trading. Their trading robot incorporates a five-tiered loss protection system, including stop loss settings, max orders, consecutive signals, lot size adjustment, and advanced trailing start & step settings.
A recent report by TradingSim indicated that using such protective measures can help reduce losses by up to 40%, a statistic that underscores the effectiveness of Galileo FX’s methodology. By acknowledging the reality of losses and offering solutions, Galileo FX stands out as a breath of fresh air in an industry often shrouded in unrealistic expectations and lofty promises.
Galileo FX’s unique approach to customer education, transparency, and loss prevention seems to be resonating well within the industry. In the first half of 2023, the company reported a customer base growth of 30%, according to data from Forex Magnates.
The advent of Galileo FX signals a paradigm shift in the financial trading industry. With an open conversation about losses and practical tools to handle them, the company is leading the charge in creating a more honest, customer-centric trading environment.
While losses may continue to be the unseen enemy of trading, firms like Galileo FX are finally bringing this adversary into the light, preparing traders for the realities of the industry, and providing tools to effectively manage and mitigate these potential setbacks.
About Galileo FX
Galileo FX is an automated forex trading software provider offering a highly customizable and user-friendly platform designed for traders. The software, compatible with MetaTrader 4 and MetaTrader 5 platforms, operates 24/7, executing trades based on customizable settings and live market conditions. Equipped with a comprehensive suite of features, including adjustable settings, built-in money management system, trailing stops, break-evens, and five tiers of loss protection, Galileo FX ensures a dynamic trading experience that caters to the users’ risk tolerance and investment goals.
For more information, visit galileofx.com
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