I would like to suggest the following idea I have for improving a bit further this impressive website.
Some background. I live in Spain and have a day job (so lucky these days). Because I cannot run MT4 at my work computer I use Myfxbook to follow how my running trades are doing while I watch the market with the new feature at ForexFactory website. Many times I missed a good entry/exit point because I cannot manage my trades. 'It would be great if I could manage my orders remotely on my home computer running MT4'.
Myfxbook offers an EA that is regularly sending the statement file with the trading activity to Myfxbook. Why not sending orders from Myfxbook to the EA the same way? The Myfxbook EA could read a “to-do list” from a text file stored at Myfxbook, process it, and execute open/close orders locally. The user could simply add/close a trade from the 'Trading Activity' area or managing the pending orders in the 'Open Orders' tab.
Such an advanced EA is not meant for realtime use. I find it better suited for trading time frames longer than 15min. This is not the typical EA robot, it would be more like a remote control.
I have not explored the VPS market yet moslty because I do not fully trust on having a MT4 running somewhere out my physical reach. It's already rather hard to choose a forex broker to send your money. I think with VPS you are putting the whole MT4 on some else's hands.
compuforexpamm posted: A somewhat cynical viewpoint......I would never operate without a VPS, but each to their own.
Next best would be to get software that turns your computer into your own VPS......look at www.rdmplus.com
I'm aware of the advantages that a VPS service may offer as compared to running all from home. I'm a newcomer to forex so it will take some time to reduce my scepticism not to get scamed.
My suggestion aims to enrich Myfxbook offer. In the end only the user will decide whether using this tool in case it becomes realised.
Currently I don't have a fancy smartphone or alike to be able to manage my forex account with it or a VPS as you suggested. Also getting the mobile version of MT4 isn't an option either. Perhaps this situation will change if I ever manage to get a regular profit from forex.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.