If this is your first Expert Advisor, or you are not sure what to do, here are some tips that will help you.
1. Activate Automatic Trading
For EAs to work, automatic trading must be activated.
Tools > Options > Expert Advisors > Allow Automated Trading
2. Use a different magic number (CHART ID) for each symbol
For example –> EURUSD (CHART ID) = 1234, GBPUSD (CHART ID) = 2345, USDCAD (CHART ID) = 2525
3. Use the recommended symbols
Fibo-Z EA is primarily made for the gold symbol, XAUUSD.
Respect this rule if you don’t know what you’re doing.
4. Activate the news filter
All our EAs have a news filter. Activate it.
Tools > Options > Expert Advisors > Allow WebRequest listed URL, and add the address http://calendar.fxstreet.com/
It is not a web page, it is a gateway, it does not open in the internet browser
5. Do not intervene manually in trades opened by the Expert Advisor
Trades opened by the EA should not be closed. Results can be unpredictable.
Unless you know very well what you’re doing, don’t change inputs when there are open trades.
6. Use a VPS
If you don’t want to have your PC 24 hours a day on and working, use a VPS.
This is the equivalent of a virtual pc.
7. Respect Lot Sizes
To win in trading there are no shortcuts. If you have $1,000, you’re not going to make $100,000 in a year.
The sooner you understand this, the easier it will be for you to make money.
If $1000 per symbol is recommended (according to EA), don’t skimp and protect your money.
Do not open trades with a lot size larger than recommended, we usually use 0.01
8. Do not change parameters without knowing what you are doing
It is common for users to change parameters of the EA’s operation without knowing why they do so.
If you want to change a parameter, I recommend that you first check the repercussions of that change with a backtest.
If you don’t know how to do backtests, you should start with it now.
To get started, open the Strategy Tester, CTRL+R, select the EA, the symbol, the timeframe, and start your test.
9. Once you start using the Expert Advisor, look in the Experts log and check how everything is correct.
Access the registry from Terminal (Ctrl + T), and go to the Experts tab, check that there are no errors.
It is only necessary to do this the first few times you use an EA, to check that there are no errors of any kind.
10. Load .set configurations
If you don’t want to do your own optimization process, there are some pre-baked settings below. You can make use of them.
To load them into your EA, you simply need to save the .set file to a location. When you add the expert advisor to the chart, in the list of inputs you will see: LOAD and SAVE
With LOAD you can load this .set file. With SAVE you can save a file that you generate yourself
Image and article originally from www.mql5.com. Read the original article here.