If you want to learn how to trade successfully, Market Traders Institute has an excellent resource to help you understand how to use all the best tools we offer traders.
He Ignite Trading Room can join free SmartTrader active users and features live online training seminars led by experienced Forex professionals. Each of these sessions lasts one hour and takes place from 13:00 to 14:00 in the East on Wednesdays and Thursdays.
We asked MTI’s Tad DeVan, senior currency analyst and host of the Ignite trading room, to explain why his trading room is such a valuable asset to traders.
Describe Ignite and its featured content.
DeVan: The Ignite trading room actually takes place twice a week and we talk about two different topics on Wednesdays and Thursdays. Wednesday’s session is about learning how to use Expert Advisor. An Expert Advisor (EA) is a robot or automated trading system unique to MetaTrader 4.
What we do is teach students how to set up an EA, how to make sure their MetaTrader 4 account is working properly, and how to download, install, and apply an EA. We focus not only on setting it up on an EA, but we also talk about how to do it on a VPS, which means virtual private server.
On Wednesdays, we discuss how to do all of this on a VPS and the importance of using one if it’s seriously about e-commerce. It is important to have a VPS because they are always enabled. It always works 24 hours a day, 7 days a week 365 days a year. It does not turn off like a normal computer does for Windows updates.
A VPS is not subject to Internet loss. Nor is it subject to the release of your power. Just two hours ago I lost power here at home for about two minutes during a big storm. So this is a good reason why we have a VPS. Do not turn off the computer during these events.
We covered all this information during our Wednesday session. I also show students how to use the MTI VPS.
What types of traders is the trading room best suited for?
DeVan: Wednesday’s session is intended for traders who are new to the automated trading environment. Thursday’s session is aimed at traders of all levels, because Wednesday is about MetaTrader 4, while Thursday’s is focused on SmartTrader.
Wednesday’s session is a one-week session. So every Wednesday we repeat the same class, which is important to keep in mind. Thursdays are dedicated to “SmartTrader best practices.” This is the name of the course we have in the room on Thursdays and the course on Wednesdays is called “EA Best Practices”.
Can you give us some examples of these good practices?
DeVan: On Thursdays, we discuss SmartTrader best practices and split them into a four-week cycle because there are so many different things to talk about. The first week is celebrated on the first Thursday of the month, so we always start again on the first Thursday of the month of the first week. And then we move on to the fourth Thursday of each month.
The first session is about getting acquainted with SmartTrader. So here we teach traders how to sign in, how to set up a trading account, how to navigate the chart, and how to access trading ideas.
The first week is essential for new traders. If you’re new to SmartTrader, you want to make sure you attend the first week’s session when we review all the essential “get started” features, such as a quick access guide you’ll get with a new technology product.
And, as the weeks go by, we discuss how to analyze the market using SmartTrader charts. We also talk about our proprietary smart tools, how they work and how to use them to our advantage.
In the third week, we explain the indicators and how they work in the charts and discuss the final stops, which is always a very popular class. The session describes the operation of the indicators and the operation of the final stops and templates. They are all interactive classes so students can ask questions as I continue.
What kind of feedback have you received from participating students?
DeVan: Our students love the trading room. They find it fantastic. Every time they learn something new. We have many customers who keep coming back month after month. Although we usually review the same content, I teach it in a different way almost every time.
We cover all aspects of the learning environment. Some people learn better if they are told how to do it. Others learn best by showing themselves how it is done. So let’s address both learning styles. Regardless of the type of style you learn best as a student, you will gather useful information from this class.
How can students join Ignite Trading Room sessions?
DeVan: They can open the More Info link at the top right of the SmartTrader home page, search for where it says “Trading Rooms” and click Ignite Trading Room to access the class. We also send an email each week informing students that the session is about to begin along with a link to attend this session.
We record every session and each class is unique. We currently have approximately 100 archived videos of previous content available to students.
For more information, sign in https://live.smarttrader.com/tradingrooms/ignite.