How to copy the quasidb signals - a tutorial

First of all, you will need a Metatrader 5 terminal (and demo)

I am using IC Markets, but it is entirely up you what MT5 platform you choose.

Step 1: Navigate to: https://www.icmarkets.com/sc/en/forex-trading-platform-metatrader/metatrader-5

Step 2: Click "Download Metatrader 5"

Step 3: Click "Open Demo Account"

Step 4: Fill in the necessary fields as desired. The only thing that needs to be genuine is the email address, since you will need to go there to obtain the MT5 server Login and Password

Step 5: Click Register

Step 6: Ensure you have selected the trading platform as MT5

I would also have the Initial deposit to 10000 since it will ensure you are able to capture all the robot signals with not a really excessive drawdown on the account. (I will explain the robot methodology in a bit)

Step 7: Click "Proceed"

Now, an email will be sent your genuine email address that has the server name, login and password.

If you haven't already downloaded the MT5 terminal click the link.

Step 8: Open email and obtain the login credentials. (there might be a 15 minute delay here) I had to wait a little while making this tutorial.

Step 9: Open Metatrader 5 and Click "Login to Trade Account"

Step 10: Fill in the Login and Password (as per email)

Step 11: Click "OK" and we're done with setting up MT5 demo.

Step 12: (important part) Click "File" > "Login to MQL5 community"

Step 14: Fill in the Login and Password (if you don't have an account, do click that link, it's vital you have a MQL5 account (to copy the signals)

Step 15: We navigate to the quasidb robot signals page as follows:

https://www.mql5.com/en/signals/689865

It will look like this, with that old photo of me waving towards the camera :-)

Do be aware there is fairly significant drawdown on the account, I will explain why at the end of the tutorial...

Step 16: Click where it says "Copy for Free" on the left-hand side

Step 17: Click "Start Copying in MetaTrader"

Step 18: Click "Open MetaTrader 5 Client Terminal" and that will now sync your demo to my robot.

Little video from the MQL5 guys... one minute long (it is super simple after all)

https://www.youtube.com/watch?v=ntu6pZRopq4&feature=youtu.be&list=PLltlMLQ7OLeLZpxDnCMKz1tBlPcUminCT

Notes to conclude:

You don't have to leave your computer / laptop running 24/5, you can do what I do and use a VPS (Virtual Private Server) straight from the Metatrader terminal itself.

Merlin said there are free VPS available but my knowledge on that is scarce. I only know the VPS route on the terminal. if you did want to copy these signals without leaving your PC running all the time, see the screenshot below.

Getting to the VPS Price Plans will require you to click "VPS" at the bottom in the Toolbox

Now I will explain how the robot "works" and why a drawdown is necessary for the averaging to breakeven

Below is an example when the trade goes "bad" - you will note, due to the averaging, the breakeven is brought closer to price.

The key is understanding that nearly every currency pair is contained within a fairly respectable price range, and so averaging is "okay" but it does have its risks. There could be a seismic event, some policy statement from a Central Bank and it can go wrong, but the robot always has stop losses in place in case of these events.

If you were to have 0.01 lot sizes (which is the recommendation) you'd be looking to be hitting a £20 stop on every bad trade.

The robot uses 0.03 sizes so the stops are that more expensive about £58 / £60 each time but that's manageable and not too detrimental to the account.

You should remember the robot made me over 11,000 pips in January, so we can have some confidence in the algorithm. (It was perhaps "lucky" we had that Iran news however).

Hopefully you understand why the drawdown occurs now?

All the best,

Dave