Forex EA Guides: Start Here
New to MetaTrader automation? Use this guide library to move from choosing an Expert Advisor to checking its files, testing its settings, and monitoring risk. Each path below leads to a focused HiPips guide or product collection. A product listing is a starting point for research, not evidence of future trading results.
Choose the right trading tool
Start with your terminal and use case. An MT4 file will not run in MT5, and an indicator is different from an EA that can place orders.
- Compare MT4 and MT5 Expert Advisors, then browse MT4 EAs or MT5 EAs.
- Explore the XAUUSD and Gold EA hub for symbol-specific questions and product comparisons. Use the Gold EA buyer checklist before shortlisting a robot.
- Review the Prop Firm EA hub and its rules checklist. Check your own firm’s current restrictions before using any automation.
- Read the MT4 copy trade guide if you need to copy orders between accounts rather than run a strategy EA.
- For different tool types, browse MT4/MT5 indicators or EA source code. Learn what MQ4/MQ5 and EX4/EX5 files mean.
Install and run an EA
Confirm the product’s platform, included files, build compatibility, broker symbol, and setfile requirements before installation. Start on a demo account and review the terminal journal when an EA does not place trades.
- Install an MT4 EA with SetFiles or install an MT5 EA with SetFiles.
- Troubleshoot an EA that is not trading and check VPS setup and uptime.
- For gold-specific presets, use the XAUUSD EA SetFiles guide.
Test the strategy and control risk
Backtests, setfiles, and marketing screenshots cannot guarantee future performance. Check spread assumptions, position sizing, drawdown, stop-loss behavior, and whether a strategy uses grid or martingale recovery. Compare results with demo or forward testing before risking capital.
- Backtest an MT5 EA before buying and review the lot size and drawdown checklist.
- Understand grid versus scalping and the risks of martingale recovery.
- Gold scalpers should also check spread and trading session conditions.
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