Speaker A
So I woke up today and realized I want to become a millionaire by the end of summer.
Learn how to find, set up, and run Forex trading robots using MQL5 bots and VPS to generate passive income.
Key Takeaways
- Forex trading robots can be a viable passive income source if set up correctly.
- Careful research is needed to avoid fake reviews and scams when selecting Forex bots.
- Using a VPS is essential to safely run Forex robots continuously without harming your own computer.
- Comparing free and paid bots can help determine which offers better returns.
- Transparency and sharing profits with viewers can build trust and engagement.
Summary
- The creator aims to become a millionaire by the end of summer and explores passive income methods.
- Two options considered: selling stock images and EA Forex trading, choosing Forex trading.
- Explains the challenge of finding trustworthy Forex robots due to fake reviews on MQL5.com.
- Demonstrates how to navigate MQL5 to find free and paid Forex trading bots.
- Compares a free bot (Dark Venus) and a paid bot, sharing insights on their performance and reviews.
- Details the necessity of a VPS (virtual private server) to run Forex robots 24/7 without damaging a personal computer.
- Recommends ACCU Web Hosting for affordable VPS and IC Markets for brokerage accounts.
- Shows step-by-step setup of VPS and connecting via Microsoft Remote Desktop on Mac.
- Shares live results of running both bots, with the paid bot performing better in profit.
- Offers Amazon gift card giveaways funded by profits made from the Forex bots.
Chapters
- 00:00Goal to become millionaire and passive income ideas
- 00:33Choosing between stock images and Forex trading
- 01:00Engagement request and bot selection challenges
- 01:35How to find Forex robots on MQL5.com
- 02:40Free vs paid Forex robot selection
- 03:49Introduction to VPS and brokerage accounts
- 04:43Setting up VPS with ACCU Web Hosting
- 06:06Connecting to VPS on Mac with Remote Desktop
- 07:16Running Forex robots and monitoring performance
- 09:59Profit results and giveaway announcement
Full Transcript — Download SRT & Markdown
Speaker A
Now I'm halfway there, but how can I reach there even quicker? Well, firstly, I'm definitely not going to be able to work more hours or spend my time on something else, as time is limited.
Speaker A
I have a whole Amazon business to handle, and I'm sure you guys have a lot of things in life as well.
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Plus, it's been said you cannot exchange time for money. So I sat down in my favorite spot and wore my thinking cap while writing down potential passive income ideas I could start straight away.
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After countless hours of extensive research, hard work, and tears, I found two methods I could use.
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One was selling stock images, and one was EA Forex trading. Can you guess who I went for?
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Yep. It was Forex trading. But I do have a career in photography, right? Anyways, jokes aside.
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I'm sure you guys are aware of me trying Forex robots in the past, but let's be honest.
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I didn't have much experience finding the best ones, but now they have some cash to play around with.
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Let's go make some bread or blow my account up. But you don't worry. You can sit back, enjoy this video while I show you exactly how to find a bot and set it up.
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But for all of this, make sure you leave a like because I've heard the more likes I get, the more the bot will make.
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And just for this video, any money generated by this bot I'll put Amazon gift card codes throughout this video, so make sure you watch the entire video.
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Now, the first thing I needed to do was to find a good bot. I sat down once again in my thinking corner and started digging away.
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I went on MQL5.com, which has all the bots, free and paid ones. Look at the reviews.
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As we're rolling with money, I could picture myself in a Lambo driving down Wembley (laughs softly), but later I did come across something shocking or let's say a dark truth.
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Most EA makers are smart. They provide free bots in order to get customers to write free reviews in exchange for an upgraded package.
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So this is how the expensive bots have a lot of good reviews. So you can literally never be sure if the bot is legit or not.
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After procrastinating for a few minutes, I went back to looking for a bot. All right. So let me show you guys how the MQL5 website looks and where you can find the robot.
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So this is the MQL5 website, and you simply press on the market button at the top.
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And right here on the left-hand side, there's a menu. And under MT4, MetaTrader 4, you'll see Experts.
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Just click on that, and you'll get all the EAs available which you can buy or even get for free.
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There's a new category, there's a free category, and there's a paid category. Now for this video, I thought why not make it more interesting?
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Rather than just going with one robot, like a paid robot, why not compare a paid robot with a free robot to see if I can make more money with the free robot than the paid one?
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So the free robot I have decided to go ahead with is the Dark Venus.
Speaker A
(laughs quietly) It's got really good reviews, it's free, and it also works on a lot of different pairs.
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For example, the EUR/USD, GBP/USD, the AUD, the Australian and the U.S. dollar, and all this stuff.
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So this is the robot I went ahead with for the free one. Now the paid one is really difficult to find because you can't really know whether the paid one's going to be a good robot.
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As I already mentioned, how people can fake reviews. So when it came to finding a paid robot, I had to look for a long, long time.
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Now there was one robot which I really wanted to try out. It's a robot I have used in the past, but I stopped using it around one year ago, and I don't know how it's going to perform now.
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Now the way I found this paid robot was simply following my gut feeling and just making sure it had five-star reviews, and I read through each and every review to see that they were not all matching.
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There were some reviews which were literally the same, so I did have a feeling that this robot might not be the one.
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But I thought it's just 30 pounds, so why not just invest that and see if it still makes me money.
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It's actually $30, not pounds. Now, as you can see, it says installed on terminal.
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And it does not say buy now because I have bought this robot already. Wherever you see the buy now button, just click on that, and you should be able to fill in your card details and that robot will be yours.
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Now I'm going to show you how you can install this on your terminal, your MetaTrader 4 terminal, and you can start trading with this.
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Now, if you are new to this Forex robot world, then let me tell you guys a few things which you need to know to be able to run these robots.
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The first one is that you need something called a VPS, which is a virtual private server.
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It's basically a virtual computer which can stay on 24/7 because you don't want to run the robot on your computer.
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Because if you keep it on for, let's say, seven days a week and not turn off at all, then it might damage your computer.
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Which is the reason why having a virtual private server will allow you to simply have your robot running on that, while you can turn off your computer and do whatever the hell you want with your computer.
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Now, there are many companies which provide you a VPS, but the one I have used in the past and it's probably the cheapest I have found is called ACCU Web Hosting.
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(coughs) Yeah, I don't know what happened to my voice. The second thing you will need is a brokerage account.
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Now, you cannot directly trade in the Forex market without having a brokerage account. The brokerage account will simply trade on behalf of you when you have an account with them.
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The one I use, and it's probably the best one out there, again, this is no financial advice, this is just the one I have used, is IC Markets.
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You can get the VPS and sign up to IC Markets using the link in the description if you want to get started as well.
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So this is the ACC Web Hosting platform where you're going to get the VPS from now.
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Under the VPS hosting toolbar, you will see there is something called Forex Trading VPS.
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Just click on that. And as you can see, you can get a VPS for $12 a month.
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Now this is really cheap compared to many other providers out there. As I said, they're not sponsoring this video, it's just something I'm using for this video.
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You need to press order now, and then you need to just fill in this information which, as you can see right here.
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For the host name, you can simply put in your name. For the robot password, you can put in, I guess, whatever password you want to put in.
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And for NS1 prefix and NS2 prefix, you can just put NA, and that's pretty much it.
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You do not touch any of these settings, and you press continue. Now, the reason why it says $15 here is because it's 12 pounds per month if you buy the yearly package.
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But if you go for the monthly package, it is $15 a month. Now I've bought two VPS so I can run both robots on different servers, and the status won't be active once you buy it because they will have to approve it
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and then they will send you the details right here. But once it's approved, you can simply click on the VPS and then you have to go to additional information, and here you will see how to set it up
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or how to connect to the VPS on a Windows, on a Mac, or Linux.
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Now for this video, I'm going to be using Mac to connect to the VPS server.
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But if you're on Windows, you can simply watch this video right here. And as you can see, it shows me the IP address as well as the port and the password and the username which I can use to log in
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or get into that virtual private server. Now, if you're on a Mac just like me, then the first thing you need to do is go on the App Store and download Microsoft Remote Desktop.
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As you can see, I've already installed it. The way it looks is just like this.
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Once you open it, it will just say PC, and all your work on private service will show up here.
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So if you want to add your one once you have received the information of the VPS, you simply need to press this plus button which is Add Desktop and then Add PC.
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Right here.
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As you can see the whole full address including the last bay right here. For the friendly name you could name anything you want.
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It doesn't really matter. And then you will need to simply press on add. Then you can connect it by clicking on it and under username and password you simply need to add this username and this password.
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And this should allow you to access the VPS. Now, once you're inside the virtual power server, this is how it looks.
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It will just say Windows server 2012 or whatever server or the version is. The first thing you need to do is download MetaTrader 4 and you can do this by logging into your brokerage account.
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In my case is IC Market. It will allow me to download MetaTrader 4 directly from that.
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The MetaTrader 4 is the application where I will be putting my robot to start working as well as where all the trades will open.
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Now, once you're on the MT4 terminal the first thing you need to do after you're logged into your trading account is go to file and log into the MQL5 community which means you're gonna be able to access the robot
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which you have bought to be able to add it here and it will start working for you.
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So once you're logged in and when you go under the market tab, which is right here and go to the purchase section, you'll be able to see that all the robots which you have bought you'll be able to see right here.
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So for example, in our case is the Dark Venus and Idea Pro Gold. And all you have to do is simply press open and that will be added into the Expert Advisor section right here as you can see on the side.
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and then you can see Market and Dark Venus right here. I've opened the GBPUSD and the EUR/USD chart and all I'm going to do is click on the Dark Venus robot and simply drag and drop it onto the chart.
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That's how you start a robot. And then I can either check the settings. In my case, I'm just gonna use the settings which are set by the owner of this robot and just press okay.
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Now, as long as I see this this guy right here has a smiley face, I know it's working.
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Now, the reason why I said about the smiley face, because make sure you press on this auto trading button before you actually drag and drop the robot.
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Because I made a mistake and for one whole day, it was on auto trading.
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As you can see, I unclicked on auto trading and this is gonna become a sad face.
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Now, when I press on auto trading it's gonna become a small face. As you can see, it's now a smiley face.
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I'm gonna do the same thing for the EUR/USD chart and as you can see it is gonna be working.
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That now, that's it. That's literally how you set up a robot. Now I can close this private VPS and it will continue working, even if I shut my laptop down because the virtual server is not on my computer.
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It's somewhere in America where they have literally thousands of other VPS going on at the moment.
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So now we'll come back tomorrow to see how these bots will perform. I'm hoping the paid one does better than the free one but it's gonna be really interesting to see how much I make in 24 or maybe 48 hours.
Speaker A
(upbeat music) All right. So it's day two of trading with the Forex robot and while we are speaking, it's just one hour left until the 48 hours are finished and then we'll see the results.
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And lemme tell you something. The robots are actually performing much better than I expected.
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Now, while we have one hour left let me tell you guys few interesting when I mean interesting, really good facts about the Forex market.
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Fact number one the Forex market trades $6.6 trillion a day. It is considered the largest financial market in the world more common than stock market itself.
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Fact two, the U.S. dollar is the most traded currency. It holds 80% of all Forex trade.
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Fact three, did you know that GBPUSD currency pair is also known as the "cable" in FOREX.
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The reason why the pair is called cable is that before the time of satellites and fiber optics the London and New York exchange were connected by a giant steel that ran under the Atlantic.
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Fact number four. Another interesting fact about Forex is the way traders are categorized. Bulls are those who are optimistic and believe the market will go up and bears are the downbeat ones expecting the market to fall.
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The names came from the fact that a bull strikes upwards and bears swipe downwards.
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And the fifth and final fact is that most institutions also trade using bots. However, the difference between you and the institutions using a bot is that they place hundreds of trades in a day, or maybe thousands of trades in a day.
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And that will all add up to millions. Whereas your bot or you can't take that risk.
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Which is why you probably make few hundred or even few pounds. Now, I don't know if this is a myth, but some believe that for every trade you place your brokerage places a trade against you in the hope of beating you.
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All right. So it's time to see the results of both Forex robots because it's this exact time when I turned the bots on two days ago, which is 48 hours ago.
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And so it's gonna be interesting. And all this money I made here, I'm gonna be giving it away or you probably have seen gift card codes or Amazon codes throughout this video.
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So if you already claimed it, well done but if not, there's still gonna be few left which you can probably claim soon.
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So let's go onto the first robot which is actually a paid robot. Let me just check if it's this one.
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No, this is actually the free robot. And as you can see this robot right here has made us a total of 47 pounds in profit in two days.
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Now, bear in mind, this is a complete free robot which I go off as you're already seen that I literally just bought it and installed it.
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My balance started at 250 and currently is at 298. Now I do have currently minus 13 pounds in trade which are currently open.
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However, if those trade close in positive that means I will make more money. Now let's move on to the paid one and see if that has actually made more or not.
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All right. So now what you see on the screen is the paid robot. I only use this robot on two charts only and it's made a total of 85 pounds in just two days.
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This is literally almost double than what the free robot made, even though the free robot ran on four charts whereas this only ran on two charts.
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This makes this robot a lot less riskier in terms of the risk we were taking.
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However, this robot is the one which I paid money for as well. But that being said, I bought the robot for 30 pounds and the free robot made me 47 pounds.
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So if I take the 30 pound out from what the paid robot has made me, I'll probably get to the same amount as what the free robot made me on the paid one too.
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So overall in total we have made 85 plus 47, which is equals to 132 pounds.
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Now all this money I've made I'll be giving away in gift card codes. And as I already mentioned if you have been watching since the start you have probably seen few gift card codes already.
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So this is how I traded Forex robots for 48 hours and made a total of 132 pounds.
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Now, the only thing I'm gonna mention here is that Forex robots are something which you cannot rely on a hundred percent because when the market goes volatile you could lose that money as well which you have put your money.
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I put the money which I was ready to lose so if you are gonna use a robot just know that no one can predict the market and you can lose everything you have put in there.
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And I definitely wanted to become a millionaire overnight but I don't think you can with Forex robot because as I said, you could either lose everything or you could make a good amount of money only.
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Anyway, if you did enjoy this video don't forget to hit that like button and subscribe because I post these kind of videos every single week, and turn the bell on so you never miss one.
Speaker A
Also, if you did enjoy this video, but you want to try out something which is a lot more, less riskier then you might wanna check out this video which is my Amazon FBA guide or a video on Amazon FBA, which you'll wanna check out.
Speaker A
And it tells you everything about Amazon FBA. Why do Amazon FBA? And if you wanna start Amazon FBA.
Speaker A
So I'll see you in that video. (upbeat music)
Topics:Forex tradingForex robotsEA Forex tradingMQL5 botspassive incomeVPS setupMetaTrader 4ACCU Web HostingIC MarketsAmazon gift cards
