Forex Robot General Installation Tutorial
Step 1: Open an account with a CashBackForex and apply to a broker from that site
This step will set you up with a broker as well as allow you to get cash back for your trades. Go to CashBackForex and click Signup. Fill out the quick form and click Register. Then, go to Compare Brokers and find a suitable broker such as MBTrading if you are in the US. To get the these brokers click the banner that brings you to their US based site. If not in the US, FinFX has gotten good reviews. Click "Open a New Account". This will bring you to the broker's site. Fill out the application accurately and wait for it to be approved. You will get an email with your account number and password. In order to get your cash back, you must email support@cashbackforex.com and let them know your information (name, broker, account number) and that your account has been created.
Step 2: Fund your account
Go to your broker's site and proceed to deposit funds using one of their options. You will see when the money gets into your account by logging on to MetaTrader (Step 4).
Step 3: Set up a VPS (optional)
If you do not have a computer running all the time, you should consider getting a VPS. A VPS is a remote computer that runs all the time and which you can access using Remote Desktop which is built into Windows. Go to VPSLand and choose a package. Make sure it is a Windows package. I recommend the 'Lite' package ($18/mo) , but I use the 'Value' package ($23/mo), since I am running multiple Metatrader demo accounts. In a few hours they should have your package ready and will email you with login information for you to log in using Remote Desktop. Remote Desktop can be found if you go on your desktop to Start > Programs > Accessories.
Step 4: Install MetaTrader
A: Go to your broker's site and click Trading Software or MetaTrader 4. Fill out the quick form and download and install the MetaTrader 4 software. When it asks you for your information after installing, fill it out if you wish to test your robot with a Demo account. If you wish to use your real account, click cancel and use your broker account number and password to login. You can change your password once you are logged in (Tools > Options).
Step 5: Purchase a robot and install it to a chart in MetaTrader
Purchase a robot from the Real Accounts section of this site. Download your robot and follow the instructions given to you by the robot you purchased. Generally, you must place the mq4 or ex4 file in the "C:\Program Files\MetaTrader\experts\" folder. If there is a dll file along with it (as with MegaDroid and FAP Turbo), you should place that file in the "libraries" folder inside the "experts" folder mentioned earlier. Once you do this, close and reopen the MetaTrader software and your robot should appear on the left under Expert Advisors. To open up a chart, right click on the ticker symbol (specific to which one your robot runs on) in the top left and choose Chart Window. Set the timeframe (specific to what your robot requires) at the top by clicking one of the following: M1 M5 M15 M30 H1 H4 D1 W1 MN. Then, drag your robot from the left onto the chart. Choose the settings as shown:
Now go to the Inputs tab and change any settings required by the robot you are using. [Hint: Settings used in ForexTestPilot.com's tests can be found in the robots section of this site] Click OK. Your robot should now appear at the top right corner of the graph with a smiley face next to it. If you see an X, try hitting the Expert Advisors button at the top to turn on Expert Advisors. If you see a frowning face, click it and check that the settings match the image above. Best of luck, and be sure to post in the FAQ section if you have any further questions!
Steve
BSME, EIT
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.