Using MT4 with AlgoFxPro EA offers exceptional flexibility and a greater automated trading experience
- Download your preferred AlgoFxPro EA.
- Install it on your computer.
- Select and copy the EA files.
- Login to your MT4 account and click on the "File" tab in the top left corner. Then, click on the "Open Data Folder" as shown in the image below.
- Restart your MT4 terminal to make the new EA files available for installation.
- Then search for the EA under the "Navigator" panel on the left side of your trading platform.
- Click on the "Plus" sign to access all available robots.
- Go to the "Tools" menu and click on the "Options" button.
- Click "Expert Advisorsв" on the popped-up window and make sure the settings are checked as shown in the image before clicking "Ok".
- It is recommended that you complete this particular step before attaching the trading EA to the chart.
- Also, if a window pops up with your EA's settings, ensure that you check the necessary settings before clicking "Ok".
- Normally, you may be required to check the "Allow live trading" and the "Allow DLL imports" buttons for the trading EA to work. But each EA can have their own unique requirements.
- After completing the installation, a smiling face will appear on the top right-hand corner of the terminal. This shows that your installation is successful and your robot is ready for trading.
- However, it is strongly suggested that do a trial trading under simulated conditions before launching your EA for live trading. Doing this will help you know its profitability and make all necessary adjustments to enhance your trading experience.
If your trading EA refuses to work optimally after you have successfully installed it on the MT4 terminal, you will have to troubleshoot the robot and fix the problem.
There are several factors that cause EA problems on your MT4 terminal but here are some settings you should check immediately you encounter any problem with your robot.
- "Autotrading" option (make sure it's showing a green color)
- "Allow live trading"
- "Long & Short" positions
- "Allow DLL imports" option (for some robots)
- "Allow import of external experts" (usually optional)
To protect beginners, some of these options are disabled by default. The "Autotrading" button is usually disabled and shows a red color by default to protect the accounts of inexperienced traders.
Also, the "Allow live trading" has to be enabled to allow the EA to trade automatically. Once the above options are properly checked, the EA is empowered to do automated trading.
- Error messages at the "Experts" section located at the bottom of the trading platform
- Error messages at the "Journal" section located at the bottom of the trading platform
- Error messages caused by poor connection between the trading platform and the broker's server
- Error messages caused by slow Internet connection speed
- Error messages caused by unauthorized EA license key
If you want your trading to work properly, you must fix every problem every problem you encounter during and after the installation.
Taking a closer look at the various error messages will reveal the solution to any EA problem because the tabs at the bottom of the trading platform logs every action your EA takes and will therefore show any error.
If your robot is still not functioning properly after checking these settings and fixing all the error messages, you need to read the instructions again and go over the settings one more time.
At this point, it is also important that you shot down your MT4 terminal for a few seconds before restarting it. This will refresh the terminal and enhance its operation.
If your problems are still not solved at this stage, then you need to get external help. You should seek some technical assistance from your EA vendor's customer support department.
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