Understanding & Setting Up MyFXBook | The Best Forex EA Bot

Alan Solar, the passive income guru, in.

This video tutorial explains to you how.

To set up an account on MyFXbook.

And check your statistics of your Forex EA.

Right, so the first thing that you need to do is you need to go to myfxbook.com and create an account. So the link to that is on my website or in the comments section if you're watching this on YouTube is the link to MyFXBook.com so please pause.

The video, go to that website.

Please go and create an account. And once you've created an account, you'll probably get an email with you to verify your email address.

So in that email is a link.

To verify your email address, you'll need to click it and just go and click that link and verify your email.

So please go pause the video.

Now go and create your account. Now go and verify your email.

Once done, you can come back to.

This video and resume the video.

The next step is to.

Import the data from MT4TRADER into MyFXBOOK so that you can get a graphic representation of your account and how your bot is performing in a, in a graphical representation. So let's do that now. So what you need to do is you need to just mouse over what, where it says portfolio and then click on the ad account.

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.

The next step is to Add account. So please click on Add Account now.

So please pause the video.

Please go and click on Add Account now.

Once done, come back to this video.

And resume the video.

Drop down the menu and then click on MT4 Trader Auto Update.

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.

Now in this section here. This is for your own reference account name. So I'm just going to call it my account name and I'm just going to paste my account name in there. And then the broker is obviously the broker that you're using. I'm using FPS7 and my real Trading account. The server that I'm using is FPS Real7. And then I'm going to paste my.

Accounts over there and then I'm going.

To plug in my password, my, my investor password in the section over here. So this is the read only password, not your trader password. So please fill in these details according to your account.

So please pause the video, go and.

Do those steps now.

Once done, you can come back to.

This Video and resume the video.

Once done, you can click on the Create button. And what's going to happen now is that it's going to create your account and within MT4 and start getting your account ready for you to upload your data. So please pause the video, go and create your account.

Now, once done, you can come back.

To this video and resume the video, right?

So in the bottom right hand corner it'll say their new system added in your account number you can click on the X and then it says here, set privacy settings for your account. So just go and click on that button.

Now, once done, you can come back.

To this video and resume the video.

Now in this section over here you can see that it's you a password. So what you need to do is you need to copy this password.

So please pause the video.

Go and copy this password.

Now, once done, you can come back.

To this video and resume the video.

The next step is to go into your VPs. So please log into your VPS now.

So please pause the video.

Please go and log into your VPS server.

Now, once done, you can come back.

To this video and resume the video.

The next step is to click on Tools and then options.

So please pause the video.

Please go and click on Tools and Options now.

And once done, you can come back.

To this video and resume the video.

The next step is to make sure that you're on the server part of your of of the Options section and then click on the change where it says change next to password.

So please pause the video.

Please go and do those steps.

Now, once done, you can come back.

To this video and resume the video.

What you need to type in here is you need to type in your trader password. So if you've forgotten that, please check the Trader pass Lost Trader Password section in my FAQ section on my website and learn how to change your trader password. Once you've got your trader password, you can enter it into this field over here.

So please pause the video.

Please go do that step.

Now, once done, you can come back.

To this video and resume the video, right?

So in this section over here where it says change investor password, this is the investor password that you got from my FX book.

It's this password over here.

So you're going to enter that password. It's better to copy and paste it and that way you know that it's done accurately. And then you can click on the OK button.

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.

The next step is to click on.

Ok, so please pause the video go.

And click on ok. Now once done, you can come back to this video.

And resume the video.

The next step here is to open up any chart. So you can either right click on any of these currencies. Now if you don't have any currencies here and you've only got one currency, you can just say symbols and then just choose any currency. So let's just, just double click it until one of these blocks is highlighted. And then when you close it, your currency will appear here. And you want, what you want to do is you want to open up another currency like, like this.

So right, so please pause the video.

Go and open up a chart.

Now once done, you can come back.

To this video and, and resume the video.

The next step is to double click on the currency to open up this window.

So please pause the video go and.

Open up this order section.

Once done, you can come back to.

This video and resume the video.

Where it says order volume, you want to click on 0.01 and in the, in the comment section you want to paste that password again that you got from, from MyFXBook, this password over here. Okay, so this is the reference that MyFXbook will want so as to know that you are the owner of this account. And then they will upload the Data from your MT4 on your, on your VPs into my effects book. Okay? And then what you can do is you can just click on the cell. It's a very small order that's going to be placed.

So you don't have to worry about.

Let's just go and check it out.

Go.

See the size of, it's like less than a cent. So you don't have to worry.

Please go and pause the video. Go and do those steps.

Go and open the trade at 0.01. Paste your password in the comment section.

Once done, you can come back to.

This video and resume the video.

Right?

So then what we want to do is we want to now click on the app, go back to the MyFX book website.

So please pause the video.

Go back to the MyFix book website. And then over here in the update password, you want to then paste that exact password in this area here and then click on the save button.

So please pause the video. Please go and do those steps.

Now once done, you can come back.

To this video and resume the video.

The next step that you want to do is you want to click on the connect button so what's happening now?

So please pause the video, go and.

Click on the connect button.

Once done, you can come back to.

This video and resume the video.

What's happening now is now my FX book. Your, your account on MyFXbook is now connecting to your statistics that take. It's uploading your statistics from your VPs. It's going to do that automatically. This is what makes MyFXbook so amazing, is that the results that are uploaded cannot be altered. They can't be faked, they can't be interfered with and manipulated. So when you're showing MyFXbook results to friends, family, colleagues, people that you want introduce the part to, you can rest assured and share with them that the results can never be manipulated as we don't have access to those statistics and we can't change those statistics. Okay, so as you can see, account authorized successfully. Your account was successfully processed and then you can say, use the EA to up my update my account. 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.

The next step here is to then please click on where it says system type. It's a technical. And then trading system is automated and everything else remains the same.

So please pause the video, go and.

Do those steps now.

Once done, you can come back to.

This video and resume the video.

Once you've done those steps, scroll down to the bottom of the page and click on the save button.

So please pause the video, go and.

Do that step now.

Once done, you can come back to.

This video and resume the video.

So this is where you are at the moment. So as you can see, it's active. And to see your statistics, what you need to do is you need to click on the portfolio and then click on your account number and that will then take you to this page over here. So we can just drop that down here.

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 for your friends to see your statistics, what you would need to do is you'd need to go back to the ad account section and then you need to click on the Edit 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. In this section over here, you can see that there's various different things that you can check to make public so that friends and family can see exactly what's happening on your account. I just Check everything. That way there's transparency and people can see that everything is done correctly. And we're not hiding anything. We're not trying to hide anything.

So, so please pause the video.

Go and click on all the check marks in the section and then click on the save button.

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 again.

Once again you can click, just mouse over the portfolio and then click on your account number. And then as you can see here, your statistics have now been uploaded and you can see exactly what's happening with your account. You can see the drawdown. Now the drawdown is the amount of capital that the bot has used at any one time to, to create a profit for you. So the higher the drawdown, the more risky the bot is and you just need to take that into account. So as you can see, my gain has been 1.07%. I've had my bot on a very, very conservative setting, which we've just changed today. And you're going to see exponential growth now on my account. So when it says here, track record not verified, what you can do is you can send an email to MyFXbook, because we have actually verified we've done everything correctly. We've opened that trade on, on, on your MT4 platform so that your, your statistics could be uploaded. So what you can do is you can just copy your account number, okay? And then right at the bottom of the page where it says contact us, you can click on Contact us. This is only if there's an X there. So let me go back there and show you. So there it says your track record not verified. So if, if you've got 1x there, then copy your account number and then go to the contact us section and then just write a note to them saying please verify my account. You can paste the number and say.

Thanks.

And then you can submit it. And then within a day or so they'll email you back and they'll say that your account is verified. So it's very simple steps.

So if you have got that, please.

Pause the video, go and do those steps now.

And once done, you can come back.

To this video and resume the video.

Right now that we've done that, what we need to do is we need to go back to the VPs.

So please pause the video.

Please go back to the VPs.

Once done, you can come back to.

This video and resume the video.

Now, in the bottom of, in the trade section, make sure that you're in the trade section, you're going to find that currency that you opened. So my, I opened the AUD nzd, Remember that's where we posted that password in the comment section. And we're going to close that trade. So please, Paul, just click on the X button to close the trade. Now what will happen is you may get a window that opens here that's going to ask you if you want to close that trade. You're going to click in the checkbox of that window and then click on ok and then make sure that that trade has closed and you don't have that open trade. So please pause the video go and do those steps.

Now once you once done, you can.

Come back to this video and resume the video.

Now at this stage you've probably loaded MT4 on your phone, but we have changed the in the investor password. Remember when we connected MT4, we changed that password. So your, your phone, if you go to MT4, it will say invalid password. So we need to now reset your investor password back to your password that you chose when you were setting up your MT4. So let's do that now. So what we're going to do is we're going to click on the Tools option and then click on Options. So please pause the video go and do that step.

Now, once done, you can come back.

To this video and resume the video.

Click on the change icon. So please pause the video go and click on change.

Come back to this video and resume the video.

Enter your your master trader password.

In.

This field provided and then choose your investor password that you had chosen when you set up your MT4 on your phone. So I'm going to choose mine.

And we're going to choose it over there as well.

So please fill in your trader password and your new investor password over here and then click on the OK button.

So please pause the video go and do those steps.

Now, once done, you can come back.

To this video and resume the video.

And then of course, you need to.

Click on the okay button. Now if you you can't get past that screen, it means that you're in your trader, your master password is incorrect and you'd need to watch the video in my frequently asked question section to find your master password. Right, now that you've changed your investor password, you now need to go to the MyFX book again. And now what you've done is you've actually disconnected MyFXbook and you need to reconnect it. So you need to go to the ad the Ad just mouse over portfolio and then click on Add account and then click on the Edit button.

So please pause the video.

Please go and do those steps.

Now once done you can come back.

To this video and resume the video.

So under update password this is where you now going to enter the password that you changed in MT4 on the VPS. So into those details now and then click on the Save button.

So please pause the video.

Please go and do those steps.

Now once done, you can come back.

To this video and resume the video.

The next step is to click on the Connect button to make sure that you that MT4 is connecting with MyFXbook and is uploading your history into MyFXbook.

So please pause the video go and.

Click on the Connect button.

Now once done you can come back.

To this video and resume the video.

So as you can see it says here your account was successfully processed and then just click on use the EA to update my account.

So please pause the video.

Please go and do that step now. And once done you can come back.

To this video and resume the video.

So it says here use the login credentials to update my account. So just click on that and everything is now set. You can see that.

It'S all correct. And then just click on the save button at the bottom of the screen.

So please pause the video go and.

Click on the Site button.

Now once done you can come back.

To this video and resume the video.

And then what you can do is you can mouse over to and click on your number to go to your account. And as you can see, I've sent that email to myfxbook and it's now I've got the two ticks. I'm not sure if I've got the email. It is the next day. So all I know is that it has been verified and that is what's so people want to see that your track record is verified and your traveling trading privileges are verified. That means that you own the account and effects book has verified all your details. They verified your history from MT4 on the VPs and everything to the potential investor that you're trying to attract. It shows them that everything is 100%, you've done everything, 100% and everything is looking great. Right? So the next step is to go back to your MyFX book and this is where you're going to find the link that you can share with your friends and family to show them that the bot is is working, it's making profit and everything is transparent and unmanufactured manipulated or fake or false. So at the bottom of this page over here, so when you click on my portfolio, it'll take you to this page here, which is your portfolio, and then to get to the statistics page that you want to share with your friends, you can just mouse over, drop this menu down, click on the account number and then scroll to the bottom of the page and then this will be the link over here that you can copy and send to your friends and family to share with them your statistics and explain to them that you know what MyFXbook is. It's transparent. It's basically the auditors of the forex market and they are there to check that the statistics that, that you are sharing with friends and family off are, are correct, audited and unmanufactured. So it's a fabulous tool to use that will enhance your sales if you want to earn an extra passive income. So how does the passive income work that you're going to earn when people register and they buy the bot? Firstly, I'm going to give you a commission, which is a recurring commission. Every time one of your clients pays for the bot, you get a commission. And also every time one of your clients, their bots does a trade, you will earn a commission on their trade. So you know, you, you are making money from their bot trading and that's a nice reward for you helping that person to make passive income. So it's a win, win relationship, which is awesome. So I hope that you found this video interesting and if you did, please subscribe to my channel so that you can get alerted when I come out with new videos. So just if you on watching this on my website, just mouse over this.

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From your words of wisdom.

So thanks very much for watching, and.

I'll see you in the next video.