would i need a vps to trade this EA? Would i occur losses or would the EA malfunction if my internet connection was to drop or laptop die ?
For the Expert Adviser, a permanent connection to the internet is required. The computer needs to be set so that it does not go to sleep! Also, you could make sure that after a reboot MT4 will automatically start.
I have used a VPS for a while, which works ok. But due to auto updates, planned services and system crashes during the week my VPS used to reboot from time to time. So it is essential to make sure that the system does all the steps to restart trading automatically (which is: starting MT4 after reboot).
The TMS Strategy does not rely on a very fast connection, and even when internet goes offline for a couple of hours its usually not a big problem. I use my own LINUX server and I do all the maintenance in the weekend. That works very well.