Tad DeVan is a Senior Forex Analyst for Market Traders Institute and host of the Ignite Trading Room. Ignite Trading Room is FREE to join for active SmartTrader users.
Cloud-based charting and trading platforms enable automated trading around the clock. It’s important to know, though, that they typically require a running computer for automation. In trading, VPS can enable this automation without a need for you to keep a computer powered on (and connected to the internet) at all times.
VPS stands for virtual private server. It is a reliable safeguard against a glitch in your computer or your wi-fi/modem. You see, when your computer goes to sleep, freezes up or loses power, a cloud-based system won’t run. That’s because the cloud stores your information but doesn’t compute it.
You can have a cloud-based system such as SmartTrader running on multiple computers. That gives you a choice. You can make sure at least one of your computers (or your smartphone) is running it and has information constantly updating with the data you need.
Some traders, however, will use VPS instead. It’s like having a remote computer running that someone else maintains, and your charting or trading software can securely access it in the cloud. That computer is always on, and it keeps running 24/7.
Basic VPS services for individuals are not that expensive — usually between $20 per month and $100 per month, depending on the configuration. Some brokers will offer VPS as well, based on your account size in certain instances.
If you’re not sure which VPS company to choose, Market Traders Institute’s affiliate partner TradersVPS has user plans that offer uninterrupted trade execution for a flat monthly rate, with absolutely everything included. If you have VPS service questions, click here for more info.
Let’s say you’re not running VPS and you see that your cloud-based charting platform is frozen on your screen. What can you do? Well, a quick solution is to log into your smartphone to keep it running, or a tablet or another computer you can access. Then you can try to troubleshoot the problem.
You might see stalled activity because of a computer issue or because of your internet provider. Either way, a cloud-based service like SmartTrader can use any device including your phone to keep running.
Of course, if a trading VPS is running, you don’t need to worry. And it doesn’t matter where your VPS is located. The provider could be based in any country and doesn’t need to be where you live.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for everyone. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before getting involved in foreign exchange you should carefully consider your personal venture objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial deposit and therefore you should not place funds that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. The information contained in this web page does not constitute financial advice or a solicitation to buy or sell any Forex contract or securities of any type. MTI will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
