For those not “in the know” Forex Robots are computer programs designed to trade the Foreign Exchange markets without the aid of human intervention. They are also referred to as Forex Expert Advisors (FX EA’s for short, if you’re looking for the technical term) or Automated Forex Trading Software by the uninitiated.
Although trading the currency markets with Forex Robots is as easy as it gets in terms of making a passive income (if your robot beats the market that is) the problem that most Forex Robot users eventually come across is the small issue of having to have their PC on and connected to the internet with Metatrader 4 (or some other Forex Trading Platform) running 24 hours a day 5 days a week. This is so their robot can pick up the trades when the internal algorithm finds one.
The tipping point for most Forex Robot users is when they realise they are in this for the long haul and this is something they will be doing for years to come. When the inconvenience on other family members and reliance on their Internet Service Provider (ISP) become too much of a burden, they typically start looking for an alternative solution.
The solution to this problem is to host your MetaTrader 4 (MT4) application including Forex Robot on a remote PC called a Virtual Private Server (VPS). There are many VPS providers located throughout the world and most offer online sign up forms allowing you to set everything up with a few mouse clicks.
A VPS is essentially another computer just like your own but sitting somewhere else in the world and connected to the internet 24/7. You access your VPS via a website control panel which will allow you to access the Remote Desktop and also carry out almost any action you would normally carry out on your home computer.
The Remote Desktop typically pops up as another browser on your home computer which acts as a window into the VPS computer. This lets you carry out any action, just as you would on your own computer.
Some VPS hosts offer special Forex Robot packages where they have pre-installed a version of Metatrader 4 for you to use, or they will install a number of Metatrader 4 terminals based on the Forex Broker’s you are using. Some Forex Brokers also provide complimentary VPS platforms to traders, if they meet certain criteria such as trading a minimum number of Lots per month.
To run your Metatrader 4 application and Forex Robots on your VPS is quite easy to do if you are familiar with your own computer. Simply login to the VPS control panel (details for this are provided by the VPS host) then find something that will help you manage files on the VPS, usually called “File Manager” or “Manage your files”. When you locate the Directory tree (usually starting with the C: drive), simply navigate to somewhere logical and upload your Metatrader 4 installation file and Forex Robots. After doing this, find the link in the control panel called “Remote Desktop” or something similar. Clicking this will launch the Remote Desktop where you will need to login again. Once in you’ll see the desktop of the remote computer and can navigate as per normal. Open the Windows Explorer and find the files you uploaded to in the control panel. Run the Metatrader 4.exe file and you’re away! Form here’s it’s the same as you would normally load your Forex Robots to MT4 on your own computer at home.