How to set up the Forex Algorithm

A complete walkthrough with all the steps you need to do.

Photo by Austin Distel on Unsplash

Welcome!

If you are reading this post it means we have discussed the trading algorithm and the risks involved. Your either reading this because you want to create a demo or live account. I honestly recommend testing the algorithm on a demo account for at least a month, the only way you can skip this is if you can demonstrate that you completely understand the strategy and the risk.

This is so you can truly get to grips with what this is about. I can’t stress enough that this is imperative as trading is always risky and you should never use money that you can’t afford to lose, as if the market does something crazy, you can blow your account. However, I will explain how crazy the market has to go within a future post as well. I would highly recommend looking through my other posts where I explain the risks and the complete strategy as well.

Below is a scale of what I feel where my algorithm lies compared to other investments. This is for EURAUD, my gold standard currency pair.

How well did you digest that risk?

Now that you’ve tilted your head back or your phone I hope I haven't lost you, but if after understanding what the risk is and you don't want to continue, that's perfectly fine. We all view money differently and there are so many safer options out there. I am only trading with my algorithm because I have made a sound investment and diversified into these safer options first. I would highly suggest we talk about other options such as: Opening an account on Trading 212 to invest in shares or opening a Bitcoin wallet for cryptocurrencies first. Use the code BPSKARA to gain an initial free £10 of bitcoin. You can always come back to forex robots at a later point in time.

Still on the fence about committing

The biggest benefit of trading with my algorithm is it's all passive income after you complete the setup. Apart from this the only thing you have to do is keep withdrawing the profits. That means you don't need to do any technical analysis (market pattern analysis from historic data) or much fundamental analysis (news). Personally, the passive income benefits mitigate the additional risk as for me time is money and I live by the quote:

“If you don’t find a way to make money while you sleep, you will work until you die.” — Warren Buffet

Instructions on:

The remainder of the post will predominantly be screenshots showing you what to select at every stage of the application. The instructions will be in the caption of the image.

• How to open a Vantage FX Trading Account (Demo)
• How to open a Vantage FX Trading Account (Live)
• How to Login into Vantage Fx Client Page
• How to utilising Vantage FX promotions
• How to open and purchase a Virtual Private Server (FXVPS)
• How to open and purchase a Virtual Private Server (Forex VPS.net)
• Optional — How to view your account on your phone for both Demo and Live

How to open a Vantage FX Trading Account

Vantage FX

This is my link to opening both a Live and a Demo account with Vantage Fx, I have this link because I am currently affiliated with them. If you're not creating the account at this very moment, you must revisit the website through this link even at a later stage, this is so that your account can be assigned to my servers and my account manager.

How to open a demo account (30 Days)

The demo account will expire after 30 days unless you link it with a live account, so remember to screenshot the results regularly

Click on my affiliated link to open the following page:

Click on Open Account on the top-right corner

Fill in your details

Select the same configuration as the screenshot. Select GBP unless you want another base currency

The email you should receive

You should receive an email with your Account Number and case sensitive password. Unfortunately, demo accounts cannot change their passwords. Also, the demo account will expire in 30 days so remember to screenshot your results

Please skip to purchasing a virtual private server

How to open a Live account

Click on the link and then “Start Now” or Live account in the top right corner

Fill in your details, whilst selecting the default Individual account type

Fill in the remaining details, please select that you have been referred by “Shivalay Kara” so that if there is an issue it can be traced back to me

Continue with your detail

Continue with your Financial details

Select these configurations

Select these configurations and accept the terms and conditions — Make sure you discuss with me if you want a different account currency.

Upload your ID — Any issues, contact me

Lastly, you can choose to fund now or later. But now wait for around 24hr for Vantage to approve your account. They may email you if there are any issues

This is how you will receive your login details by email.

How to Login into Vantage Fx Client Page

Click on the Live account from the link

This is how your page will look like when you login

Click on the “∇” next to Leverage and change your leverage to 1:500

You can reset your MT4 account password from the random one assigned Note — This is different to your client page password. This password is for the individual account created within your client and can be used to log into MT4.

How to utilising Vantage FX promotions

Use the link above to view the Promotions offered by Vantage. Clients → Promotions

The additional bonus applied — This is one of the reasons why I prefer Vantage, as no other broker offers this type of bonus.

How to open and purchase a Virtual Private Server (VPS)

The algorithm is running on a 24/5 market, hence it needs to be connected to the internet at all time. You will need to hire/rent a VPS for the algorithm to run. There are lots of VPS available online, here are the two that I am familiar with.

I have recommended two because they differ slightly in their price and payment method, but other than that they both serve their function.

FX VPS ($12.99)

Forex VPS for $3.00/m, 24/7 support, 100% uptime, great speed

After clicking on the link. Select “Professional” and “Order Now”

Make sure all the configuration are set to these. The dedicated IP is the only option so there is an extra charge which is perfectly normal.

Fill out your details and confirm the price is still $12.99. Select Paypal (Manual) or Bitcoin (Message me for help with this)

You will be directed to an Invoice that has unpaid. Make note of the Invoice number as this will be your reference in your payment

Click on the link, which is a Paypal Payment link:

https://paypal.me/vpspay

After clicking on the link. Type $12.99

Make sure you include the Invoice number found on the “unpaid invoice tab.” Also, select that you paying for goods or a service to avoid Paypal extra fees.

You will receive an email with VPS details in about 20–30 minutes. I will require these details to set up the algorithm

Forex VPS. net ($29.99)

https://www.forexvps.net/?aff=12948

I would only suggest you use Forex VPS.net if you do not have Paypal or Bitcoin payment method. The only difference is the price, which would cut away at your monthly profit.

After clicking on the link. Click on “Forex VPS Plans”

Select Order now for the Basic Package, which is $29.99. Take care not to purchase the wrong one. There is always a promotion of 25% running every month.

Select the configuration as listed above and set the server to be located in the area where you live to reduce latency.

Complete your details and pay through the various card payment types

Remember to use a credit/debit card with low internal non-sterling fees. I use the Curve app, which has zero foreign exchange fees.

VPS information received by email

Optional — How to view your account on your phone for both Demo and Live

MetaTrader 4

This is an app that is a platform for a wide number of brokers such as Vantage FX

MT4 is available for Android and the App Store

Click on Manage Account

Press on the “+” sign to login into an existing demo or live account

You can use MT4 for all your trading accounts, even with other brokers simultaneously.

You do not need to create another demo, Click on login to an existing account (this includes Vantage Demo)

Search Vantage, I cannot stress that it is important you pick the option that contains “International.” It should also be on Vantage FX International Live 4 as this is the server I am on. If yours is anything other than Live 4 contact me

Type in your account detail that you should have received by email. The password is your MT4 account password, not your Vantage Client page

You can use the Vantage App, I don't personally use it, as MT4 is clearer

Conclusion

Congratulations you reached the end! Feel free to message me if you have any further questions, I have tried to make this as simple as possible.

Shivalay Kara

https://linktr.ee/Shivalaykara