This guide will provide you with solutions and ideas of how you can keep your trades running while you are at work or if you simply can't use your computer to manage your trades.
Note: You will be able to run Metatrader 4 (MT4) and any program that runs on Windows through the VPS, using your Apple System.
Solutions
To Potential Trading Problems
You might
already be familiar with the following situation: suddenly, your internet
doesn't work, and your Metatrader disconnects from your Forex broker. In this
case, your positions will stay open without your 'take profit' or
"breakeven" orders would no longer exist. As a consequence, you could potentially
suffer from a bigger loss.
Unlike
orders in the market, such as take profit or stop-loss orders, an expert
advisor is not a fixed order. It needs to be triggered by your price, moving
into profit. However, when you set normal take profit or stop-loss orders at
the start of a trade, you place them into the market. The broker can see it. It
does not matter whether you turn your computer off or interrupt your internet
connection. The order is placed and ready to be triggered.
The
Potential Problem
As
mentioned above, the biggest issue is that when trading using an expert advisor
(EA) that runs on auto, you are often required to have your MT4 charts running
to adjust orders to break even or lock-in profit. Many factors influence
running MT4 charts from a laptop or a computer, and a few of the significant
issues that could become a problem, should they not work correctly are:
Trading
with an expert advisor is not just as simple as turning on your computer or
laptop and running the indicator.
If you are
running a desktop computer, then power is vitally important. Any power cuts
will be a significant issue.
Laptops can
be prone to overheating with long work-loads. This is something to think about
if your computer is not very powerful, and you would like to run the expert
advisor on it.
The other
tricky part to consider would be the internet connection, which you have no
control over at all.
Since 2015,
the internet is getting better and better all the time. However, networks often
have 15 to 30 minute downtime periods
for various reasons, such as technical issues or system upgrades.
Electricity
is something that is truly out of your hands, and while outages are rare, they
can and do happen. All it takes is a storm or a power line going down, and your
house could be out of electricity, which would result in your expert advisor
not functioning for a while.
Of course,
this is acceptable if you know about it and are there to deal with it.
The
Solutions
What are
the potential solutions?
There are two solutions to this problem.
You can
decide on either solution that you feel fits you best with your trading.
1. Using Your Computer
The first
solution is to run your computer 24 hours a day, five days per week, keep the
expert advisor working, and ensure that your trades are executed.
This way,
you are keeping your MT4 charts live, and your EA will be able to adjust the
orders when triggered (move to breakeven or lock in some profit). This is far
from an ideal solution, however.
As we just
described above, the risk of running MT4 charts on a computer or laptop 24/7 is
that your device would get damaged over time.
These are
all the issues you will have to think about when using this method.
2. A Virtual Private Server
We are
currently using a Virtual Private Server (VPS).
As we will
explain in more depth below, the VPS is doing my computer's job for us. You
don't have to worry about having my computer on. You can access your EA from
any computer or smartphone anywhere in the world at any time.
Instead of
either running your computer or laptop all night, you choose to use someone
else's computer hardware. He has a system that is built precisely for the job.
He has backup systems in place so that if anything does go wrong, there are
other servers to keep my EA up and live in the market.
While your
trading laptop is powerful and more than enough for trading, it just does not
have enough backup systems in place should anything go wrong. The truth is, it
just wasn't built to run 24 hours per day, five days a week.
So, the most
crucial question is:
What is
a Virtual Private Server or VPS?
Wikipedia,
the free online encyclopedia, explains a VPS as;
"A VPS
runs its copy of an operating system, and customers have super user-level
access to that operating system instance, so they can install almost any
software that runs on that operating system. For many purposes, they are
functionally equivalent to a dedicated physical server and being software
defined, are able to be much more easily created and configured."
A VPS is
exactly as it sounds. It is a Virtual Private Server that is a computer server
you can use for any of your Indicators and EAs you want to use in your trading.
Instead of
running them on your computer, you can choose to use a VPS and have it run
them.
A beneficial
thing about the VPS providers is that the competition is high. So, you can find
providers who specialize in Forex and concentrate on helping just people who
trade Forex.
This is
important because it makes it a lot easier.
Instead of going to a VPS provider, signing up, and just seeing a massive bunch of gobbledygook that makes no sense at all, you can now go to a high-quality VPS provider, as we will describe below.
This makes
a massive difference because straight away, the customer support is dealing
with Forex traders every day rather than just once in a blue moon like the
other providers.
The other
important factor is that your native MT4/MT5 is built-in. You know that not
only do they work, but the tech team is going to be able to help you with any
questions or issues you may have because they are dealing with these charts
every single day.
Installation
is also a lot simpler because the MT4/MT5 is already pre-built into the VPS.
All you have to do is login and add your indicator rather than work out how to
install the MT4 platform with an average VPS provider.
Comparisons
– Quality VPS Providers
When you
compare different Virtual Private Server providers, it is highly essential you
are very clear about your demands out of your service and what you are looking
for.
With your
VPS, you are a Trader, not a web developer.
You do not
want to feel like you need a tech developer every time you want to just log in
and check on your expert advisors or that I need a qualification in rocket
science to set up and install my VPS.
What do you want out of your VPS?
Here are several examples of the things you may consider in a quality VPS provider:
Why Should
You Use DigitalForex as Your Forex VPS Provider?
You should
use DigitalForex because they are a hosting company that is built, especially
for Forex Traders.
Unlike
other hosting companies, where you have to dig around and search for a relation
to Forex, the main home page of DigitalForex is all about Forex and the Forex
packages.
We offer a
stack of value, having 99.9% uptime with their servers, which means my
indicators will be live 99.9% of the time. (no one can quote 100%!).
Our
customer service is swift and efficient, and our packages are the best value
for money compared to others.
As you will
see below, when we take you through how easy it is to get started, install, and
set up all your indicators with DigitalForex, the best thing is probably that we
will do the most challenging part. You contact us. We will install the
MetaTrader platform and help you upload your expert advisors, indicators, and
other tools.
From there,
you can access your VPS from any computer, smartphone iPhone, iPad or tablet,
from anywhere in the world at any time.
Some of the
Major Benefits of DigitalForex:
• It works with any Forex Broker
• It works with any technical
indicator or expert advisor
• It can be accessed from any
computer or smartphone/tablet in the world at anytime
• It comes with a dedicated IP
address and full Administrator access
• It supports Metatrader 4,
Metatrader5, NinjaTrader, TradeStation, and any other Forex software.
How to
Install A DigitalForex VPS?
Installing
and getting set up with a DigitalForex VPS is pretty straightforward and, as
mentioned above, self-explanatory. But there are a few tricks and tips that
will take you through.
You will
receive a welcome email after signing up and making sure that your payment is
clear.
This email
contains all of your instructions, your username and password, and information
about how to log in and access your server.
You will
access your server or your Virtual Private Server from what is known as a
"Remote Connection."
There is no
need for any concern if you are not sure of this because it is pretty simple.
A remote
connection allows you to access a computer running Windows from another
computer running Windows or MacOS.
This is
super-efficient because running it this way means you are then able to check in
on your indicator from anywhere in the world, literally at any time from various devices
You will
access the remote connection right off your computer and then treat it as a standard
MT4 setup.
There are a
few tweaks and differences that I will take you through, but the major
principles such as loading the EA, how the EA works, etc., remain precisely the
same.
The first
step in this process is registration, which is very straightforward, and this
will take you through the process of asking you what configuration you want and
also if you want to sign up for a longer period, because the longer you sign up
for, the cheaper the packages are.
What you
need to do at this stage is to decide the size of the package required. If you
are only using up to 3 Expert Advisors, then the Greenback VPS will be more
than enough.
If you use a
scalping EA or a high trading frequency EA, you should order a high-frequency
forex VPS. The performance is better, and it is only slightly more expensive.
Select the
VPS plan that you are comfortable with to service your expert advisors.
Here you
confirm your order and checkout or continue shopping.
If you
want, you can also book a regular auto backup. This protects your data and can
be restored if necessary.
DDoS
protection is also exciting. An extra firewall protects your VPS. The firewall
can help in specific smaller attacks, but your server may still be null routed
if you are hit with a massive attack. We would suggest purchasing DDOS
protection if attacks are a problem for you.
The choice
of the VPS location is crucial. It is essential that your VPS is as close as
possible to the location of the forex broker. This enables you to achieve the
fastest possible connection (latency). We have put together an overview of the
most famous brokers. If your broker is not there, we will be happy to help you
find the right location.
After
signing up, the confirmation and a welcome email will be sent out.
You may
need to have a little bit of patience because the VPS needs to be installed, which
can take 1 hour or so.
There are
separate instructions for connecting to the remote connection for each
different operating system and device.
The way you
connect to the VPS and use the VPS once it is set up is the same no matter what
computer type you are using or using an iPhone. However, there are differences
in getting it all setup.
The reason
for this is because each device or computer has its software.
For example, the remote desktop connection that is used for people with Windows 7 is not the same as the people that are using their iPhones or Mac.
These
people have to go to the App Store and download a remote desktop client that
will work with the iPhone/Mac exclusively.
Each
connection is shown and explained in the welcome email that you receive.
While each
device connection is different, the base method to connect the same for all
devices.
The only
thing changing is the device being used to connect you to your VPS.
We will
show you how to make a remote connection to your VPS If you have Windows 10 on
your computer.
To find the
Remote Desktop Connection shortcut, click the Windows Start button.
Find in the
menu “Windows Accessories” and click on the “Remote Desktop Connection”.
To quickly open Remote Desktop Connection, open the Start menu and then type:´“mstsc” in the search box, which should bring up the “Remote Desktop Connection”. If this does not work, then search for “Remote Desktop Connection”. Click on this to open it.
The Remote Desktop Connection will open, asking you for the “Computer's” name. This is the Forex VPS IP address that DigitalForex has made for you and has been sent out in your welcome email.
Please put
this in and click “Connect”. See the image below.
You will
then be asked to enter your credentials to log in and confirm your account to
connect.
You will
have been given these in your welcome email.
Please find
these and enter them in the "User" and "Password" fields
and then click "OK".
You will
then be connected to your VPS account, which is just like being connected to
another computer from afar.
How To
Use The DigitalForex VPS
As I just
mentioned above, using a remote connection, whether you are using it through
Windows 10 or an iPhone, is just like using another computer from afar.
You are
granted access to your server and can use this to manage your EAs and accounts.
Once logged
in with the DigitalForex VPS, it is a
priority to get your MT4 or MT5 account up and running.
As soon as
the remote desktop connection starts, you will be taken into a new screen, your
new connection to your Virtual Private
Server.
This is
running windows and has MT4/MT5 right there for you to access. This works just
as your normal PC or Laptop does.
Once again,
this is just an ordinary computer connection that you are accessing from afar.
So, you can open the MT4/MT5 simply by
clicking on them.
How to
Open MT4 & Open A New Account in Your VPS?
This is one
part that was not covered anywhere, so please take notes:
Uploading
the MetaTrader software to your VPS is relatively easy. You can download the
terminal.exe from your broker's website to your home PC, and then you can
copy/paste (CTRL +C / CTRL +V) to transfer the file to your VPS.
After
executing the terminal.exe, MT4/MT5 will be installed on your VPS. After
installation is complete, please click on the "Open an Account"
button, which will then bring up a new box, as shown in the image below:
When you
have your normal brokers MT4/MT5 charts open, please click the "File"
and then the "Open Account" button.
If you are using Roboforex, for example, i will
then open a new box just like the image below:
With this
"New Account" box open, you will be able to see the server names.
Your name will show up after the company's name.
You only
need the start of the server names so that the new MT4/MT5 scanner in the VPS
can scan through and find the correct broker.
The problem
is that, because these days, there are so many brokers with so many white
labels, every man and his dog has their broker, which means there could be a
lot to scan through.
Please go
back into your VPS and back to the first box that will still be open.
There is a
space to enter the name of your broker where you clicked on the green button,
You can
either enter the full name or just the start. Enter it in and then click
"Scan".
NOTE: If
you entered in the full name and for some reason, it did not come up, try just
putting in the first part and then re-scanning.
This will
then bring up a whole host of possible servers for you to use.
Usually,
when you open an account with your broker, they will instruct you on the exact
server you should be using, whether it is "Live server 5" etc..
Select the
server that you need to use (you can also select a demo server if you need to
or open a new demo account) and then click "Next".
After
selecting your server, you will be asked to select an account type, whether it
is an existing account, a new demo, or a new real account that you want to
open.
If you want
to open a new demo or real account, you can simply just click on one of the two
tick boxes down the bottom and then click finish, but if you want to connect
and open your existing account to your normal broker like most Traders will
want to do, then click on the "Existing Trade Account" button and
enter in your login and password. After you have done this, click
"Finish".
How to
Install and Use an Expert Advisor on a VPS Remote Connection?
The same base principles apply for installing Expert Advisors (EAs) on the remote connection. Expert Advisors are not indicators, and we need to make sure we put them in the right spot and not in with the indicators. Because we are using a remote connection, there is a slight change in how we are uploading Expert Advisors into their folders.
We will be transferring files from our computer to the Forex VPS Desktop rather than saving them or downloading them. Because we already have the Expert Advisors saved on our computers, we need to transfer them to the Forex VPS. Usually, what you would do is download or save the new Expert Advisor into your MT4/MT5 "Experts" folder, but you can't do that on a remote connection.
You have to
transfer the files over into your server, which is pretty simple, and that is
what I am going to show you now.
If you have
Windows:
To transfer
files from your desktop or mobile computer to ForexVPS desktop:
If you have
a Mac:
Before you
start the Remote Desktop session, make the Mac disks available to the
Windows-based
computer.
Your disk or folder is now available so that you can access files that are on your Mac from the ForexVPS Windows desktop.
If you make
this change after you connect, the disk or folder that you select becomes
available the next time that you connect.
Using
VPS In Windows
Note: All
of the preceding steps will be followed in Forex VPS.
In Windows,
now go into your VPS and open up your MT4/MT5 charts. Click "File"
and "Open Data Folder".
See the
screenshot below for the button I am referring to:
After
clicking on "Open Data Folder", it will bring up all the MetaTrader
folders of the MetaTrader account that you are working in.
Here you need to open and save your Expert
Advisor (EA). Leave these folders open for the time being.
Go into the
spot on your computer where you have the Expert Advisor saved that you want to
transfer into your VPS.
For you,
that may mean that it is in your MT4 files because when you first received the
Expert Advisor, you saved it or downloaded it in your MT4.
If this is
the case, then go into your computer's C-Drive or C-Disk, click on
"Program Files" and find your brokers folders, for example.
It will
often look like this; "MetaTrader 4 – Roboforex".
Note: It
will say Roboforex if Roboforex is your broker. If not, the name of your broker
will be shown.
Click on
"MQL4" and then open up the "Experts" folder to find your
Expert Advisor.
If you have
your Expert Advisors stored somewhere else other than in your broker's charts,
then now is the time to find the one you want to transfer.
In this
"Experts" folder of your Forex Broker, you should be able to find all
the
Expert
Advisors that you are using in your current live broker's charts.
PLEASE
NOTE:
These
Expert Advisors will often split into two.
This means
you will download or save both Expert Advisors, so when you go back into the
same "Experts" folder, you will then see two of the same EAs.
They will
have the same file name; however, they are not the same as different file types.
One is an
EX4 file, and the other is a DLL file. You are to be concerned about both
files.
Please find
the Expert Advisor you want to transfer over into your Data Folder in VPS.
When you
have found it, click on it with your mouse to select it –
Making Sure
The 'Expert Advisor' File Is In The 'DLL' And 'EX4' As Per Above.
When the
Expert Advisor is selected, using your mouse, right-click and select the "Copy"
option to copy the EA.
You can
also hold down Ctrl + C, which will copy anything you have selected and a quick
short cut.
Anything
you can select can be quickly copied using this method.
As we are
already in the VPS connection, go back to where you have already opened up the
"Data Folder".
Now, we
need to get to the right place in the VPS MT4 for you to store this EA, which
is precisely the same process as normal, so in your "Data Folder",
please click on "EX4" and then the "Experts" folder.
Using your
mouse, please right click and select "Paste" to paste the Expert
Advisor in the "Experts" folder. You can also hold down Ctrl + V,
which will also paste whatever you have just copied.
We also
need to now get to the right place in the VPS MT4 for you to store the second
EA, which is precisely the same process as normal and above, so in your
"Data Folder", please click on "DLL" and then the
"Libraries" folder.
Using your
mouse, please right click and select "Paste" to paste the Expert
Advisor in the "Libraries" folder. You can also hold down Ctrl + V,
which will also paste whatever you have just copied.
Finally, to
make the Expert Advisor that you have just transferred load and start showing
up, you will need to refresh or restart the MT4 just the same as standard MT4.
This does
not mean that you have to close the VPS connection; you have to turn the MT4
off and back on again.
Or you can
do this by refreshing the Experts Advisors in the "Navigator Tab", or
by switching your MT4 off and on and then clicking the windows start button at
the bottom left, which will bring up the menu that includes MT4 & MT5,
where you can then restart it.
Once you
restart your new Expert Advisor, you should be good to go.
To open
your EA, just hit the "Navigator" button in your MT4, followed by the
"Expert Advisors" tab in the row, which should open the row to show
your EA to be available, should you have completed the process correctly and
put the EA in the correct spot.
Below
you'll see a screenshot of how to 'Refresh' the "Expert Advisors" in
the "Navigation" Tab.
Trading in
the Forex markets can be tricky and frustrating at times. We need strategies
and, most of all, tools that help us both minimize our work-loads and maximize
our output.
Just like
the Pareto principle or the 80/20 rule where 80% of the effects come from 20%
of the causes when we are either adding a new indicator to the toolbox or
searching for a new one, the reason should not be just to add another tool for
the sake of adding a tool; but instead, to be able to have the tools that do
the most professional and successful work for you, so that you have to do the
least amount of work possible.
If you have
any questions about anything you have read or need help, just contact us.
We wish you
all the very best in your Trading endeavors!
Yours DigitalForex Team
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