Forex Pro Island Setup Tutorial
The Forex Pro Island trading bot is hands down one of the most profitable FX autotraders right now. People seem to be suffering from some confusion on how to set the Forex Pro Island Bot up, which is what this tutorial is all about.
Downloading & Installing Forex Pro Island – A Tutorial
What is kind of funny here is that installing and properly setting up the Forex Pro Island Bot is by far the most difficult aspect of all. People, keep in mind that this is a fully automated bot for FX trading. Yes, it incorporates a highly advanced algorithm, one which generates the best signals and executes trades all on its own. This software is designed to automatically place and close FX trades on the MetaTrader 4 platform. It literally does all of the heavy lifting for you.
Now, the only aspect of the Forex Pro Island Trading Bot that is even remotely difficult is installing it and properly setting it up. Beware people, if you do not set it up properly, it is not going to run on the MT4 platform. Below we have a detailed Forex Pro Island Software setup tutorial with clear step by step instructions. Let’s get to it and help you set this software up so you can start winning FX trades and put some cash in your pockets.
STEP 1: Download & Install MetaTrader 4 Platform
The very first thing that you will need to do, if you have not already, is to download and install the MetaTrader 4 trading platform, simply known as MT4.
Something you need to know here is that this Forex Pro Island MT4 auto bot is designed specifically for use with the MetaTrader 4 platform, exclusively so. Do not attempt to use the newer MT5 or MetaTrader 5 platform, as this trading bot will not work on it.
You can go through your broker of choice to download MT4, that is if you already have a broker. You can also go straight to the official MetaTrader 4 website and download it directly from there. The easiest way is to simply Google MetaTrader 4 and then follow the search results to the official site.
STEP 2: Select the Broker of Choice
The next thing you will need to do in order to use the Forex Pro Island trading bot is to select a broker, sign up for it, and deposit money into your trading account. The beauty with the MetaTrader 4 platform is that it comes with a long list of available brokers which can be used with it.
When you open up the platform and go to the brokers section, you will see roughly a dozen different brokers, all of which can be used here.
You need to select the one that suits you best, create an account, deposit money for trading, and then connect the broker account to the MT4 platform. Yes, all brokers associated with MT4 are fully regulated, licensed, and 100% legitimate.
STEP 3: Download the Forex Pro Island Automated Trading Bot
The next step in the journey to get your Forex Pro Island Auto Bot up and running is to actually download it. In order to download the bot itself, you can follow the links which we have provided here today.
Both at the top and the bottom of this tutorial, we have included links to the official site. Once on the site, there are plenty of links to the official download link. There is only 1 single file to download, which does make things easier. Be sure to save the file to a location on your computer that is easy to find. Preferably, simply download the file right onto your desktop screen.
Once you have the Forex Pro Island file downloaded, you can open it up. Here, you should see 7 separate files. 1 of these files is going to be a text document for the setup instructions. The other 6 files will be the 6 respective trading bots for the specific currency pairs which the Forex Pro Island MT4 Auto Trading Bot is designed to trade.
STEP 4: Copy the Bot Files into the MQL4 Folder in MetaTrader 4
Now is where things start to get a little tricky, so pay close attention because this is one of the most important parts of the Forex Pro Island Setup. What you need to do here, once the MT4 platform is downloaded and installed, your broker is setup and connected, and the FX Pro Island file is downloaded, is to copy those 6 trading bot files into the MQL4 folder in MT4.
Alright, so open the file with the bots, the file you downloaded. Select all 6 of the bots at once, but be sure that you don’t select the text file.
Now go into the MetaTrader 4 platform and select “file” (top left on the toolbar), then “open data folder”, then select the “MQL4” folder, then go to the folder that says “experts”. With the 6 selected Forex Pro Island files, simply drag them into or copy and paste them into the “experts” folder. You can now close this folder and move onto the next step.
STEP 5: Download All Historical Chart Data for All 6 Currency Pairs
What you need to do now, in order to allow the Forex Pro Island app to function, is to download all historical data for all timeframes for all of the 6 trading bots. In other words, you need to download all historical data for all possible timeframes for each of the 6 currency pairs which this bot can trade.
The pairs you will need to download all historical data for include AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY.
As an example, let’s pick EUR/USD. In the MT4 platform, go to the “tools” tab located at the top toolbar. Now, you need to click on “history center”, then click on the “Forex” tab, then select “EUR/USD”. You will see a variety of timeframes for historical info for that particular currency pair.
Triple click on each timeframe (they should turn from white to yellow when properly selected). Now select each of the available timegrames and click the download button at the bottom left of the window. You will need to download each timeframe for each currency pair separately.
Yes, this will take a while to complete, maybe as long as an hour. However, do keep in mind that all of these steps need to be done only once. You only need to do this one single time in the beginning when installing and setting up the Forex Pro Island Bot.
STEP 6: Drag the Currency Pair Bot into the Corresponding Currency Chart
The next step is to drag the currency pair bots into the corresponding charts. So, go the left side of the MetaTrader 4 platform. Near the bottom, you will see a tab that says “expert advisors”. Right click on this and then hit the “refresh” button. This will ensure that everything is where it should be and in working order. Now comes the very last step. Click on the “expert advisors” tab. You should see all 6 of the Forex Pro Island Bots for the specific currencies which this bot can trade.
At the top left hand side of the MT4 platform, open the AUD/USD chart (just as an example, but remember that this needs to be done for all 6 bots). The AUD/USD bot has an H1 designation, which means that it is designed to work for a 1 hour chart. So, once the AUD/USD chart is open, go to the top and select “H1”.
Once this is done, go back to the left hand side of the platform, select the AUD/USD bot, and using your mouse, drag and drop the bot onto the chart. Once this is done, click “OK”. In this little window, go to the tab that labelled “common” and make sure that, “allow DLL imports”, “allow live trading”, “enable alerts”, and “allow import of external experts” are all turned on. These all need to be turned on for the Forex Pro Island Bot to work on the MT4 platform.
Changing Bot Settings
If you are a newbie trader, it is strongly recommended that you don’t change any of the input settings just yet. If you want, after you get some more experience and money into your account, you can always increase lot size.
STEP 7: Activate the Forex Pro Island Auto Bot & AutoTrading in MT4
The final step here is to go to the top of the MT4 platform, where it says “autotrading”. Click on this to turn on autotrading. It should be green when turned on, and you should see a little smiley face on the top right side of your screen. Now you are ready to start trading automatically with the Forex Pro Island Auto Bot.
Forex Pro Island Setup – Final Thoughts
Setting up the Forex Pro Island Auto Bot does take some time. You also need to follow the above steps to the tee. Do something wrong, and the whole thing won’t work. That said, this Forex Pro Island Bot is hands down the best autotrader for FX, a very profitable piece of trading tech. We would definitely recommend giving it a shot.