STEP 1 - Get to know your Trading platform.
The first thing you need to do is become familiar with the MT4 trading platform, the world’s most popular, user-friendly trading platform. Most of it is fairly straightforward… easy to understand even for first-time users.
Once you have installed the bots on your MT4 trading platform spend some time checking all the buttons and inputs for your bots. Use a demo account when you start trading to get familiar with everything. Only go Live trading when you're comfortable trading with bots. When you are opening a demo account open it with the same deposit size as your Live account. You won't have false expectations from your trading by doing it this way.
To learn all the tricks and tips about MT4 trading platform Watch the Video below.
STEP 2 - Download the MT4 Mobile App
Once you’ve activated the robots, we suggest you download the MT4 mobile App to your smartphone. This is a handy way in which to watch your trading account. Go to your App Store and download the MT4 mobile app. Log in to your trading account using the account number and password you were given by your broker.
You can even setup real time notifications sent directly to your smartphone when trading robots open/close trades. To learn how to do this READ THE INSTRUCTIONS ON MT4 WEBSITE HERE or Watch the instruction video here
STEP 3 - Get to know the trading strategies
Don’t worry if you don’t see trades for several days. Unlike the majority of robots, our robots don’t make trades all the time. That’s because our robots are closely aligned with manual trading strategies that look for only high probability trades. We average 6 trades per month, and it’s not uncommon for no trades to be made in all week. It’s all dependent upon the market. For us, less is definitely more.
We use a portfolio of different and unique trading strategies that each has it's own strengths. Some with high Win rate, some with high Risk:Reward ratio. This approach lets us spread the risk and limit the drawdowns, while at the same time ensuring consistent profits over months and years in any market phase. Trendy or range bound, rising or falling markets.
It is important you know what are the trading strategies robots trade. This is the only way you will have the confidence to trade them when going gets tough. Start by reading the strategy e-book.
STEP 4 - Understand the Risk.
Money and risk management is a critical part of success in trading. In fact, this is one topic you should really understand if you’re going to trade with our trading robots. There’s no holy grail in trading, and there is the possibility of losing trades. Period.
Therefore, you must prepare yourself for this. Our robots use professional risk management system risking only a small % of your account on each trade. All of robot trades have a predefined Stop Loss price that will kick in automatically if the trade doesn’t work like it was projected to. Our robots calculate these Stop Loss levels automatically – the only thing you’ll need to do is set the account % risk on each trade based upon your risk tolerance:
Conservative: 0.5% of your account per trade. (Maximum Drawdown expected: 5%)
Average (default risk setting): 1.0% of your account per trade. (Maximum Drawdown expected: 10%)
Aggressive: 2.0% of your account per trade. (Maximum Drawdown expected: 20%)
STEP 5 - Think in probabilities and long-term success.
Don't use 30 day trading results to decide on your subscription as such a short time trading period is nothing but random.
Professional traders are not worried about the next trade winning or losing. What they care about is making money long term and grow their trading account over time. They want to maximize their profits by playing the mathematics – by thinking in probabilities.
We look at probabilities on a large trade sample sizes over 10 year period. Statistics and probabilities show that over long term our trading strategies have an edge over the market.
But just because we have an edge doesn't mean every month will be profitable. In fact there is 33% probability that any 30 Days of trading will be unprofitable. But the good news is that winning periods are much larger than losing periods. Our robot portfolio largest losing month was only -11.1% while largest winning month was a large +15.5%
The market also tends to run in cycles, meaning that you should never expect linear performance from your trading robots. There are periods of drawdowns, that can last for up to 3 months, often followed by sudden and strong moves in the market. This is where most of the profits are made. It's the way market shakes out all the impatient traders.
STEP 6 - When you are ready.
In the last week of your trial, you have a good idea of how the robots are trading and how Evestin Forex works. This is when you need to consider opening your Live trading account with a Forex broker. Use one of our brokers to assist you in this process, as it gives you peace of mind that you’ll get the same trades as us. It is important that we all get the same signals and same trades. Different Forex brokers can have different prices, spreads, time zone settings or high latency. This can lead to false signals and different trades on your account. For this reason we recommend you open Forex trading account with the same brokers we trade with. We trade only with strongly regulated and highly reputable Forex brokers. If you want to get the same trades - use the brokers below.
Please choose your broker based on your location.
Trading platform: MT4
Account Type: Standard Forex trading account
FOR CLIENTS IN UK (FCA Regulated In UK)
FOR CLIENTS IN EUROPE (ESMA Regulated In EU)
FOR CLIENTS IN UNITED STATES: (NFA regulated in US)
Account Type: MT4 Oanda-V20
FOR ALL OTHER CLIENTS (ASIC regulated in Australia)
STEP 7 - Share your results
Once you've setup your Live trading account make sure to share your progress with us. The best account tracking software to use is FXBLUE. With FXBLUE you can track your trading account in great detail straight from a web browser and share your results with others.