FAQ - Frequently Asked Question
How does MyForexSignal Provider serve you?
Using our service, Forex trading signal will be sent directly to your Metatrader trading platform. Prospective clients will just have to install our smart signal receiver software on their computers to start using the service. Upon successful installation, everything will run automatically, giving you real-time Forex signal updates besides managing your Metatrader trading account promptly. The entire process is automated and require no human intervention.
How do I receive the Forex signal?
A subscription to MyforexSignal provides you with a signal receiver software. All it takes is no more than 10 minutes to set it up and perform simple configurations. That's it, MyForexSignal is ready to serve you. You only have to configure this software the first time you use MyForexSignal. A step by step user manual is included for your reference.
Is MyForexSignal completely automated?
MyForexSignal will automatically update your trading platform with up to date trades exactly the same with Master trading account. When our Master trading account has any update on trades, Forex signal will be sent to your computer to update your Forex trading platform. Just ensure that Metatrader 4 is running on a computer with internet connection. Although the updating process is fully automated, you have the flexibility to override and close any of your trades manually at any time.
Could I also change stop loss and/or take profit of the trades that came from you?
A: Technically it is possible to configure software to allow this, but it is not recommended and disabled by default. The software will keep the SL/TP values matching original trades all the time.
Is there a setting in the copier EA inputs that allows me to open existing trades (market orders) that are already open on the Master account ( Administration Account) ?
It is not recommended to copy the trades that are already open as a market orders (especially if they are in loss), but if you still want to do it, please use IgnoreTradesBeforeTimeStamp and IgnorePriceDeviation settings. Please find them explained in the instruction manual.
In the instructions it says "Please attach EA only on ONE chart". What pair and time frame I should be attaching EA to exactly?
Best practice is to attach EA to EURUSD pair of any time frame. This does not mean that EA will trade only this pair, it will trade all pairs following master account. It is best to not change time frames of the chart where the EA is running, so please open a separate chart for Client EA only.
If I ever need to shut my computer off, what happens to all these trades that are opened at the moment?
The trades will stay open and EA will continue to manage them when your computer (with MT4 + EA) will be back online. If you want to stop trading completely you need to remove EA from the chart and close all trades manually. Note that trades can hit stop loss or take profit level even when your computer is shut off. This is controlled by the broker.