FAQs

Can I use multiple accounts and robots on a VPS?

    Yes, when you setup VPS with VPSLand, it is like a whole new computer at your fingertips.  You can setup multiple accounts as well as multiple robots on each account.  Simply keep reinstalling MetaTrader 4 (MT4) to a different directory for all the different accounts you want to have running.  Then, install as many robots as you like to each account.  See the Tutorial section for step by step instructions on setting up a robot.  Note: the VPS may get slower if you are installing upwards of 15 accounts, but hopefully you don't need that many accounts.

 

Hint: In MT4, once you have all your currency pair windows up that you need, right click in the Market Watch window and choose Hide All.  It will hide all but the pairs for which you have windows open.  This will take some strain off the program and allow it to run smoother and use less memory and bandwidth, causing less load on your VPS.

Can I install the same robot twice on one account?

    Yes.  If the robot is meant for multiple currency pairs, simply attach the robot to each different chart window.  If you mean to put the robot twice on the same currency pair, this will increase your profit as well as your risk.  If you still wish to, simply open two chart windows of the same currency pair and attach the robot to each.  Then check the robot settings for a MagicNumber input.  Change one of the numbers so that they are different.  It doesn't matter what the numbers are, as long as they are different.

Can I install multiple robots to the same currency pair?

    Yes.  To do this, you must open two different chart windows.  Drag and drop each robot to its own chart window.  Next, check the robot settings for the MagicNumber input.  The numbers must be different even for different robots if they are on the same currency pair.  It doesn't matter what the numbers are, as long as they are different.  If there is no MagicNumber input for one of the robots, it is hardcoded and you cannot change it.  If so, change the other robots MagicNumber to an obscure number such as 49762, since a common one is 12345.  The idea is to get different magic numbers so MetaTrader can tell the robots apart.  Keep in mind that if your broker does not allow hedging, (buy and sell of the same currency) one robot will not be able to open a trade if the other robot has an open trade in the opposite direction.

Do robots allow manual trading as well?

When you set up your broker account, you are allowed manual trading.  Attaching the robot to a chart on your account engages automatic trading, but does not limit any manual trades. Trades will only be denied to you or the robot if attempting to "hedge" a currency pair with a US based brokerage account, that is, open a trade in the opposite direction as an open trade on the same currency pair (example: Buy and Sell EUR/USD at the same time).

What is your policy regading providing assistance for setup once I purchase one of the robots?

I will be available to answer any questions you have setting everything up. For fastest assistance, use my contact information (steve@forextestpilot.com).  Please see the Tutorial section as well as this FAQ section which should answer most of your questions.  You can also post your question below on this page, or contact the robot's support service.

What is the minimum amount you suggest depositing into my account? Do some robots require more deposit then others?

Different brokers have different minimum deposits.  As for trading with expert advisors, I strongly recommend putting at least a few hundred dollars, I would say $300, in to ensure enough margin to prevent the broker from having to close out your trades (margin call).  This is especially important with US accounts which have merely 50:1 leverage.  I also suggest getting a mini or micro account for a small deposit to ensure you can trade small lot sizes.  For a larger deposit a standard account would be fine.  Go to cashbackforex to open your account and get started.

What settings should I use and what settings are you using for your tests?

   The settings used in the tests can be found in the Real Accounts section of the site.  As for which settings for you to use, that is your choice.  Please choose wisely when choosing between Conservative, Moderate, and Aggressive settings.

Will signing up with CashBackForex raise my spreads?

    [from the CashBackForex website]  Never! Your spreads will be EXACTLY the same as those offered on the broker's website, and will be the same as those you would pay if you had opened the account on the broker's website. The only difference is that, by opening your account through us, you will receive cashback!

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Submit Your Question

Date: 07/03/2009

By: Joe A

Subject: Great Site Upgrades

Steve.. the site gets better everyday. Basic and necessary info is clearly presented, and watching the day to day live trades makes it all real. I have my own Euro-blaster running, and it is fun to see what the other bots are doing /..

U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risks. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

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