Practical Guides · 7 min read
The most common reason a newly purchased EA fails to perform is not a flaw in the strategy — it is a configuration error. Wrong timeframe, incorrect lot size, disabled automated trading permission, or a settings mismatch between the backtest and live configuration.
This checklist covers every critical point to verify before running any EA live for the first time. Work through it in order before funding the account.
Account and Broker Verification
- ☐ Broker allows automated trading — checked ToS for restrictions on martingale/averaging strategies
- ☐ Account type is correct — micro (0.01 min lot) for small accounts, standard (0.1 min lot) for larger accounts
- ☐ Account balance meets minimum — verified against developer’s published minimum, not arbitrary self-assessment
- ☐ Spread confirmed — checked live spread on the pair during your target trading session, not just during off-hours
MetaTrader Configuration
- ☐ AutoTrading button is active — the green “play” button in the MT4/MT5 toolbar is enabled, not the red “stop” button
- ☐ EA is attached to the correct chart — confirmed symbol and timeframe match the EA’s requirements
- ☐ “Allow live trading” is checked — in the EA properties dialog under Common tab
- ☐ DLL imports allowed if required — some EAs need DLL access; confirm in EA properties
- ☐ EA smiley face is visible on chart — the yellow smiley in the top right corner of the MT4 chart indicates the EA is active
EA Parameter Settings
- ☐ Base lot size is correct — calculated based on account balance, not copied from an example for a different account size
- ☐ Kill switch threshold is enabled — not set to zero or disabled
- ☐ Magic number is unique — different from any other EA running on the same account
- ☐ Max orders parameter is correct — set to the documented maximum (typically 8), not raised
- ☐ Time filters configured — if using news or session filters, times are set in the broker’s server timezone, not local time
VPS and Connectivity
- ☐ VPS is active and connected — MT4/MT5 shows connected status with broker server
- ☐ VPS auto-starts MT4 on reboot — configured to launch MetaTrader automatically if VPS restarts
- ☐ Ping to broker server is acceptable — below 50ms is good; above 200ms may cause execution issues
Pre-Live Verification
- ☐ Demo account test completed — EA has run on demo for at least one week and confirmed trades are opening and closing correctly
- ☐ Lot sizes on demo match expected sizes — not 10x or 0.1x what they should be due to a decimal point error
- ☐ Know how to pause the EA — practiced disabling AutoTrading and know what happens to open positions when you do
- ☐ Have a plan for kill switch trigger — decided in advance what to do if the portfolio stop is hit: restart, withdraw, or pause
Completing this checklist before going live takes 30-60 minutes. Skipping it costs more than that when a configuration error causes a preventable loss in the first week of operation.
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Try It on a Demo Account First
All BotFXPro EAs include a free MQL5 demo. Run it in Strategy Tester before committing to live.
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