Setting up the Smart Trader – 4Pair strategy is VERY straight forward.  But, you should only choose the 4Pair strategy if your account size is greater than $20,000 at least.  If you are beginning with an account size of $5,000 or $10,000 you may choose to start with a single pair, like the GBPJPY.

So, setting up 4Pair takes only 5 steps for new traders, and even fewer steps for all the experienced traders out there.

• Step 1:  Download the MetaTrader 4 platform and Smart Trader software from here (This is also available at step 1 on the main page).  Watch the first training video here.  It covers installing the MetaTrader 4 platform and initial setup.

• Step 2:  Install Smart Trader into the same file folder where you installed the mt4 software.  After installing Smart Trader, be sure to close the mt4 program.  Then, restart the MetaTrader 4 program (there should be a shortcut on your desktop).

• Step 3:  Load four (4) new currency pair charts.  Feel free to choose your favorite pairs, but you might want to look at which pairs have performed well over the last few weeks (See “Weekly Trading Results” on the blog).

• Step 4:  Next, load the Smart Trader template on each of the 4 currency pair charts.  Click on Charts>Template>Smart Trader for each chart.

• Step 5:  After you click on the smiley face on each chart, you ONLY NEED TO CHANGE THREE SETTINGS.  Change the lot size to 0.05 per pair for a conservative setting on a $20,000 account, set the different Stop Loss for each currency pair, and change the Max Order setting to 5 on each currency pair.  (On Smart Trader v0.6, the max order setting is a global setting.  That means, 5 max orders for the account, not each individual currency pair.)

You’re set!  Don’t forget to leave your computer on, and the program running.  This will allow the software to place trades and close them at a profit!

Keep watching this blog…we’ll cover more advanced settings at a later date.

Past performance is no guarantee of future results.