How to set up the Forex Algorithm
A complete walkthrough with all the steps you need to do.
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
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 is a regulated Forex broker, providing traders with access to the global Forex market through top tier 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:
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
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
How to Login into Vantage Fx Client Page
How to utilising Vantage FX promotions
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
Forex VPS offers a full dedicated server to its clients. Rather than a leap service we act as according to our featured…
Click on the link, which is a Paypal Payment link:
Forex VPS. net ($29.99)
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.
Remember to use a credit/debit card with low internal non-sterling fees. I use the Curve app, which has zero foreign exchange fees.
Optional — How to view your account on your phone for both Demo and Live
This is an app that is a platform for a wide number of brokers such as Vantage FX
You can use MT4 for all your trading accounts, even with other brokers simultaneously.
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.