Setting Up The Best Forex EA

Alan Solar, the passive income guru, in this video tutorial explains to you how to set up your EA and start making massive passive income.

Right? So the first thing you need to do is you need to log into your VPs. So please pause the video, go and find your login details in the email that I sent you. So let's. Let me show you what that looks like. So here it is. You got an email from me with your login details. So I'm sure you know how to do that. Just go and find your login details. If you haven't set up remote desktop desktop on your computer, then you need to go back to the video on the training website and go and do that. So please pause the video, go and log into your VPs.

Now once done, you can come back.

To this video and resume the video.

The first thing we need to do is we need to set up your MT4 so that we can, we can trade and we can see what, what's going on the screen. So in the, in the bottom right hand corner of your VPs, you'll see that there are scroll bars over here. So what you can do is you can just mouse over the MT4 window and just, just drag it. You can see that you can just drag it and just resize it so that you can see everything on your screen so that you don't have to use the scroll bar. So if it's off the screen you can also you can mouse over the top right hand corner and you can then drag your window to the size that you, that you wanted for the size of your screen. So please pause the video, go and resize MT4.

Now once done, you can come back.

To this video and resume the video.

Please make sure that in the bottom right hand corner you are logged in and the MT4 platform is communicating with FPS or PAX Forex, depending on which.

Broker you've decided to use.

So please pause the video go and do that step.

Now once done, you can come back.

To this video and resume the video.

Now if you've lost your password, what you would need to do is you would need to then go to the training website and on the frequently Asked questions section, if you scroll down over here, it says here lost Trader and investor passwords for MT4. You can just watch this video to go and find your login details and that will take you through the steps of how to then reset your password or login. Great. So please pause the video go and make sure that you logged in.

Once done, you can come back to.

This video and resume the video.

The next step is to click on the tools and then click on Options. So please pause the video. Please go into those two steps.

Now once done, you can come back.

To this video and resume the video.

The next step is to click on Expert Advisors and then over here where it says allow automated trading that needs to be clicked. So it's the first, the second, the third, and the fourth blocks need to have check marks in it. So please pause the video, go and do that step. Now once done, you can come back.

To this video and resume the video.

Then you can click OK and then you'll see here that the auto trading button has gone from, from red to green. If it was red, then just click it green and make sure that those four blocks are checked. So please pause the video, go and do those steps.

Now once done, you can come back.

To this video and resume the video.

Now the next thing that we need to do is you need to resize this window. So maybe your. Your windows like that. So please resize the window mouse over this parallel line, this window over here so that you get a horizontal, your mouse turns into a horizontal line with the two arrows and then you can just left mouse click down and then drag the window to resize it so that can see the currencies. So please pause the video, go and do that step.

Now once done, you can come back.

To this video and resume the video.

The next step is to right click in this window over here and to say hide all. So please pause the video. Please go and do that step.

Now once done, you can come back.

To this video and resume the video.

Now maybe there's four currencies here. Now if there are four currencies here, it means that there's probably Windows charts in this gray area here. So let me just drag a chart across so that you can see that. So you've probably got say two or three charts over here. I'm just going to resize them. So what you would need to do is you'd need to close these charts down by hitting the X button on the chart so that this area is totally gray. So please pause the video, go and do that step.

Now once done, you can come back.

To this video and resume the video.

The next step that you can do is you can just, you can just click on Hide all. And if there's still a currency there, it's no problem. You can just go to the symbols. Click on symbols. So right click again and then click on symbols. So please pause the Video please go and do that step now.

Once done, you can come back to.

This video and resume the video now.

And in the section, this is the section that will display the currencies in this window over here. So I only want Euro US dollar highlighted. So if you have another currency, let's say Aud was there, you can see Aud has appeared. Now if you don't want it there, you would just double click it until the this little block over here, the dollar icon disappears and then that currency will then disappear from the window. So I only want you to have Euro US dollar so make sure that it is highlighted and the the currency is displaying under in the market watch window. So please pause the video. Go do that step now once done, you can come back to this video.

And resume the video, right?

So the next thing that you need to do is you need to click on the Close button. So please click on the close icon.

Now once done, you can come back.

To this video and res the video.

Right? So you've now set up your MT4 and we're now ready to almost start trading. So if you in your, in this window over here, what you can do is you can just mouse over this window, drag it up a little bit so that you can see exactly what's going in the going on in the Navigator window. Now if your expert advisors is not open, you can just click on the plus sign to open it. And then you'll see here that your, your robot will not be here. They'll probably only be Mac, CD and Moving Average will be there. So the reason that robot is not there is because I still need your terms and conditions documents. So you would need to go and find that in your email. So it's these two documents over here. What you would need to do is you need to print out these documents and then initial each page, sign and date the last page, and then scan and email both documents back to me. The other thing that I need is I need you to send me your sent account number. So in FPS you would need to, you would need to log into FPS and send me your sent account number which will be on your, on your dashboard. So over here and the sent, it'll say the sent account number. You need to copy that number and then email that number back to me with your signed documents. So please pause the video, go and do those two steps.

Once done, you can come back to this video.

You resume the video, right? So you've probably done those steps now and I've already emailed you Your license key and you can continue now with your with setting up the bot. So what you would need to do is you'd need to right mouse click over Expert Advisors and then click on the refresh button. And you'll notice that the the expert advisor has now been added to the Expert advisor section. So please pause the video go and.

Do that step now. Once done, you can come back to.

This video and resume the video.

Now what you would need to do is in the section over here, this section is probably still gray. So what we need to do is you need to add a chart to this window. And the only currency that we're trading is we are only trading EUR US dollar. So there's two ways of doing this. You can drag the bot into this area or you can right mouse click down and chew and choose a chart window. So I just like to drag the cross quicker. You can decide what you want to do there. So please pause the video go and add chart.

Now once done, you can come back.

To this video and resume the video.

So you can double click on this that's gray area here. Or you can click on the block icon to enlarge your currency. So please pause the video go and.

Do that step now. Once done, you can come back to.

This video and resume the video.

The next thing is to Click on the M15 which is the 15 minute time frame. That's the time frame we're going to be trading on. So please choose that time frame now. So please pause the video go and.

Do that step now. Once done, you can come back to.

This video and resume the video.

And in the top left hand corner here, it'll say there M15. So please make sure that it does say M15 and the M15 is raised. You can see that the button is raised and you know that you're on the on the 15 minute time frame. So please pause the video go and check that it is that you are in fact on the M15 time frame.

Once done, you can come back to.

This video and resume the video.

Right? So what you can do is you can double click on the on the bot and the bottle open and your bot will probably look like this when you open it. It'll look like that. So we need to resize it. So you need to click on the input section and then mouse over the blue line until your mouse turns into a horizontal line with the two arrows. And then left mouse click down and drag the bot so that you have an empty section over here. So please pause the video go and do that step.

Now once done, you can come back.

To this video and resume the video.

Right? So the next step that you want to do is you want to click on the load button and you want to choose medium risk, the number one preset, sorry low risk, not medium risk. And.

That preset that all the settings will then automatically populate all these fields. So please pause the video go and choose your low risk settings.

Now once done, you can come back.

To this video and resume the video here.

So let's go through the the settings here. So what this is, this is the amount of, of currency that the, that the, the bot is going to buy at any one time. So the lot needs to be 0.1 and then your equity protector needs to be on. It needs to be true. So you can just double click on there, just make sure that it is true. If it's on false, just click on true, make it true. And then over here, this needs to be set to 20% so I'm going to set mine to 20. So what this means is that 20% of your only 20% of your currency of your capital is going to be at risk at any one time. So that doesn't happen often. But you know we've got three rules in Forex and the first rule is to protect capital at all cost. The second rule is to make profit. The third rule is to draw your profit on a daily basis. And the fourth rule is to repeat steps 12124. So you know this, you can change this at any time that you want to. It's according to your risk appetite and your risk profile. I'm comfortable with a 20% risk to risk 20% of my, of my, of my capital. With all investment, there's always a risk. If you speak to other financial advisors, they'll tell you that if you're trading shares then you should put a stop loss at 10%. In forex it's a little bit different because your money is leveraged and so 20% is a fun is fine. Please remember that the lower this number, the lower amount of profit that you're going to make. There's a video on how to increase your settings. The next video is a backtest. Go through that video on the training website. It's called a backtest strategy and that will help you to increase risk and help you make more money. But for a beginner, please use 20% which is fine. Now the higher this number, the higher, the more capital you're putting at risk but also the more profit you're going to make at the end of the day. So you can change this at any time that you want. You can make it 25, you can make it 30%, whatever you're comfortable with. And everybody says to me now I'm comfortable losing my capital until it's time to lose your capital. And then nobody's comfortable losing the capital. So at the end of the day nobody's really comfortable losing their capital. So rather be conservative and.

Use the conservative settings. So now that we've, we've checked these two settings, the next thing is to check the license key. Now this section will be blank and what you will need to do is you need to go back to the email that I've sent you and after I've received your sent account and the two signed terms and conditions, you'll get another email from me with your license key number. So here is your license key number. You need to copy that and you'd need to paste it, you need to post it in that section over here. Now once you've pasted your so please pause the video go and paste go and do these settings.

Once done, you can come back to.

This video and resume the video.

Now, now that you've pasted your license key in there, you want to save this preset. So you're going to click on the save button and you're going to name it anything that you want to call it. So I'm going to call it Alan Low Risk. I'm going to my settings is 0.1. My equity protector is on 20%. That way I know what these settings are that when if I need to set up my bot again, I've got the setting already pre saved. It's called the presets. It's under in the presets folder and then you can click on the save button. I'm just going to overwrite mine.

You won't have one.

So it'll just go back to the screen over here and then you can click on to please pause the video go and do that step.

Now once done you can come back.

To this video and resume video. And then over here you can click.

On the OK button.

The window will disappear. You'll see that in the top right hand corner your trade has it says that the bot has been added to the.

To the chart. And over here it says you're the best forex robot. And your account number, that account number will match that account number. And then in the section over here, to get to the section, you click on the trade tab. So if you're not on the Trade tab. You just click on the Trade tab and. And then you'll see that a trade has opened. So please pause the video, go and do those steps.

Now, once done, you can come back.

To this video and resume the video.

So your bot is trading. That's fabulous. You're now about to make some passive income. And now you can shut down your your VPs. Now, before you shut it down, make sure that you don't shut down the MT4 platform itself. The MT4 platform must remain open all times. So don't hit the X over here. You need to. And don't hit the X over there. This X over here shuts down the MT4. So if you do close it, you just need to double click it once and make sure that MT4 is trading. Now, on a Mac machine to close the VPs, there is an X button over here. And on a Windows machine there's a blue bar here where it says your your VPS number and the the server ip. In the right hand corner there will be an X on the blue bar. That's the blue bar that you need to click. So make sure that you click the the X on the VPS and not the x on the MT4. The next thing to note is that you need to only have one window of the MT4 platform open. So how you know that is is is over here. If you mouse over this icon over here, it'll show you the windows that are open. If there's only one window open, it means that only one session of MT4 Trader is open. And that is correct. If you have two windows, one under the other, you can see in the right hand corner there is an X and you can click the X On the one of the MT4 sessions that are open, only one session of MT4 must be open. Okay, so what you can do now is you can close off. You can close down the.

The VPS and continue with this video. Now to close your VPS on a Mac computer, in the top left hand corner you can see there's an X there. And if you click on that X, that will close your VPs. And on a Windows machine at the top of the screen there is a blue bar. It's quite small and it's. It's about over here where you'll see the username of of your account. And there will be an X, a minus sign and an X on that bar. That is where you close down your VPS and do not click this X over here to close down your VPs. Because that doesn't close your VPs. If you do click it, what will? What it does is it closes your MT4 session. Now if your MT4 is closed, the bot cannot operate, it cannot close trades when it's supposed to and it will not open any new trades and you won't make a profit. So what I would do is I would log out of the VPS by clicking that X on a Mac again, it's the top left hand X on, on your screen. On a Windows machine it's the X on the blue bar next to your user number. So what I would do is I would log out and then log back in to see that MT4 is still trading. So go ahead and do that. So please pause the video, go and do that step.

Now once done, you can come back.

To this video and resume the video.

Right? So as you can see, my MT4 is still open and running and, and everything is 100% accurate. So that's awesome. Right, now that your bot is trading, the next step is to go back to your training website and to please follow the rest of these videos over here. Very important that you go through all my videos. Set up MT4 on your phone, do a backtest, see the different settings that you can do with with your ea. But I don't recommend you change the settings until you've gone through these videos. And also I have a free training course called the Learn to Read a Forex chart and I've got a separate website for that which you can. I'm going to add the section over here, Learn to read a Forex chart. I'll do that now so that you can go through that. And also on my Frequently Asked Questions section, I'm also going to add a section in my, the, the Frequently asked question section section on Learn to read a Forex chart. So please go through.

Go through my website, go and go through all the videos, go through all the sections. Become a fail with what you bought. It's very important that you're independent and you're not reliant on anybody. Now just a, just a side note, going back to the VPs, it takes about a week, seven trading days for the bot to actually kick in and start making profits. So your profits, the first five to seven days is going to be fairly low. So don't worry about it. The bot needs to learn the algorithm, learn the currency, understand what the currency is doing and once it does that, then your profits will start increasing and you will start making some passive income. Please can you also Read the rest of my emails. On the on my email is a list of the different telegram channels that you can join and one of the channels is a chit chat channel and testimonials channel. So please can you post your testimonials on a daily basis? You know one of the reasons that you joined was because of other people posting their testimonials in the social proof. You know, word of mouth is the the best way to promote any product. So we need your testimonials and also your friends and family would like to see what what you are doing so they will join once once I know what you're doing. And you will earn a commission every time somebody buys a bot, somebody that you have told buys a bot. And you will also earn commission from every trade that the bot takes. So that's also really exciting. So if you want to earn more money, you can go to my website and just click on the affiliate section and understand the types of commissions that you can make and you can start earning some more passive income. So I'm really excited to see your testimonials on a daily basis and I'm looking forward to making passive income with you. So welcome to the best forex ea passive income bot and we'll see you on the next video.