A cheap Forex VPS is something that most or many of the novice Forex traders are looking for. They sometimes pay up to $60 to $270 per month for a Forex VPS or dedicated sever. The question is, do you really need a Forex VPS?
Do You Really Need a Forex VPS?
The short answer is NO. You don’t need a VPS as you don’t also need multiple monitors.
VPS and multiple monitors equipment are just to make money for those who sell these things to novice Forex traders who think that in order to monitor the Forex market properly and take the trade setups and trading opportunities, they have to have multiple monitors and Forex VPS. Therefore, those who can afford, spend a lot of money to provide these things, and those who can’t, try to find cheap Forex VPS or dedicated severs. However, they still lose money on Forex trading because the problem is hidden somewhere else, not in having a cheap or expensive Forex VPS.
Online Forex trading is a good chance for some people to create the related products and services, and sell them to poor retail novice Forex traders who know nothing about trading yet. These traders keep spending money on expensive mentor-ship courses, Forex VPS, Forex signals, books, DVDs, classes, seminars, webinars while they also keep on losing more and more money on trading.
Usually those who provided these services and products, are used to be affiliated with so many other companies like brokers, expensive and cheap Forex VPS providers. They refer the novice traders and students to these companies to make commissions. For example, usually when you sign up for a Forex mentorship, the so-called Forex mentor or guru is also affiliated with a market maker broker. He refers you to that broker all the time and even forces you to open a live account with them and deposit some special amount of money in your account to become able to sign up for the mentorship course. Sometimes they offer you a free course if you open an account with their favorite broker and rent a Forex VPS from another company that is usually owned by the same brokerage company.
Doing all of these would be good if the mentor could finally teach you to become a consistently profitable Forex trader. But the problem is, these mentors have never made any profit even with a demo account. The money you give them as their tuition fee and also the money they make out of your live account and the commissions they receive from the other companies like the Forex VPS, is the only money they make.
As a result, you spend and lose more and more money, and your mentor and the companies he refers you to, make more. You give up on Forex trading after wasting a lot of time and money while these people have made so much money out of your Forex trading adventure.
Why Do They Push You to Rent a Cheap Forex VPS?
They push you to rent a Forex VPS first because they are affiliated with the company or website that rents Forex VPS in different price ranges from cheap to expensive. Therefore, they make a commission if you rent a Forex VPS. Usually the Forex VPS company or website has a wide price range. They start from the cheap Forex VPS from about $50 or $60 per month to the expensive ones that are over $250 per month sometimes. If you can afford the money, you will choose the more expensive ones, because you think it has a positive impact on your Forex trading result, whereas the whole thing is nothing but a trick. You can never find a professional and consistently profitable Forex traders that rents a VPS. I will tell you why.
The other reason is mainly about the application of a Forex VPS. You have to have a Forex VPS usually when you buy a Forex auto-trading robot and you want to keep it up and running on your account 24 hours per day. Sometimes you can’t keep your personal computer on all the time, and your internet connection is not stable, and so the robot can’t work on your account consistently. Therefore, you will have to rent a Forex VPS to install the trading platform and robot on it to make the robot work on your computer all the time and without any gap.
However, there are two problems here. First, you can’t make any money with the auto-trading robot you have bought. I have never seen any Forex robot that makes money consistently. Even the best ones make some money for a short while, but then they wipe out the account with just one losing position. So, not only the money you spend on the robot is wasted, but also the money you spend on the Forex VPS is nothing but your loss. Above all, you lose money on your Forex live account as well.
The other problem is that unlike what most novice Forex traders think, Forex VPS and dedicated servers are not ON and up and running consistently. You pay a lot of money sometimes for the cheap Forex VPS, but when you check it, you will see that the trading platform is not ON and is already closed. The reason is that these VPS or dedicated servers’ operating systems are Windows 2000 that is not stable and crashes all the time, and so it has to be restarted. Therefore, the trading platform (MT4) will also be closed and your robot doesn’t work on your account while you think it is working and making money for you.
So Do You Need a Forex VPS or Dedicated Server?
Again, the answer is no. It is nothing but wasting of time and money. Don’t even go for the cheap Forex VPS, let alone the expensive ones.
You don’t see any consistently profitable and professional trader who spends any time and money on these things. Unlike what you see in many ads, professional traders don’t even have multiple monitors, whereas some novice stock or Forex traders spend over $5000 to have several monitors.
All you need is a 17″ laptop and Internet connection. Surely you can’t properly trade with a tablet, iPad or iPhone, and you have to have a 17″ or maybe even a smaller laptop. But you don’t also have to spend any money on Forex VPS, dedicated servers and multiple monitors equipment. You can’t get anywhere by monitoring so many price charts at the same time, nor can you make any money with the auto-trading robots.
Therefore, if you have already rented a Forex VPS, even a cheap one, cancel it and stop spending any time and money on it. Also stop using the auto-trading robots.
If you follow the loner time frames (daily, weekly and monthly), which is the right and proper way of professional trading, then you don’t have to monitors the markets all the time. You can just check them once every day and when the daily candlestick closes. Therefore, you don’t need a Forex VPS. You can just use a simple laptop and spend less than 30 minutes per day to check the charts.
What is the most important here is having the proper trading and living strategy which is what none of the so-called mentors tell you, mainly because they don’t know these things themselves. They make you think you can make a fortune through trading a $500 account with an auto-trading robot on a cheap Forex VPS, whereas they are the only ones who make money through this, not you. They make money through referring you to their broker, and selling the robots and Forex VPS to you. Stop losing your hard-earned money on these things.