diff --git a/freqtrade/optimize/lookahead_analysis_helpers.py b/freqtrade/optimize/lookahead_analysis_helpers.py
index e2e9ffb42..53d8c8a59 100644
--- a/freqtrade/optimize/lookahead_analysis_helpers.py
+++ b/freqtrade/optimize/lookahead_analysis_helpers.py
@@ -116,6 +116,11 @@ class LookaheadAnalysisSubFunctions:
 
         # unify --strategy and --strategy_list to one list
         if not (strategy_list := config.get('strategy_list', [])):
+            if config.get('strategy') is None:
+                raise OperationalException(
+                    "No Strategy specified. Please specify a strategy via --strategy or "
+                    "--strategy_list"
+                )
             strategy_list = [config['strategy']]
 
         # check if strategies can be properly loaded, only check them if they can be.
diff --git a/tests/optimize/test_lookahead_analysis.py b/tests/optimize/test_lookahead_analysis.py
index 3136d6a16..2eb0b2657 100644
--- a/tests/optimize/test_lookahead_analysis.py
+++ b/tests/optimize/test_lookahead_analysis.py
@@ -1,5 +1,6 @@
 # pragma pylint: disable=missing-docstring, W0212, line-too-long, C0103, unused-argument
 
+from copy import deepcopy
 from pathlib import Path
 from unittest.mock import MagicMock, PropertyMock
 
@@ -9,7 +10,8 @@ from freqtrade.commands.optimize_commands import start_lookahead_analysis
 from freqtrade.data.history import get_timerange
 from freqtrade.exceptions import OperationalException
 from freqtrade.optimize.lookahead_analysis import LookaheadAnalysis
-from tests.conftest import CURRENT_TEST_STRATEGY, get_args, patch_exchange
+from freqtrade.optimize.lookahead_analysis_helpers import LookaheadAnalysisSubFunctions
+from tests.conftest import CURRENT_TEST_STRATEGY, get_args, log_has_re, patch_exchange
 
 
 @pytest.fixture
@@ -63,6 +65,37 @@ def test_start_lookahead_analysis(mocker):
         start_lookahead_analysis(pargs)
 
 
+def test_lookahead_helper_invalid_config(lookahead_conf, mocker, caplog) -> None:
+    conf = deepcopy(lookahead_conf)
+    conf['targeted_trade_amount'] = 10
+    conf['minimum_trade_amount'] = 40
+    with pytest.raises(OperationalException,
+                       match=r"targeted trade amount can't be smaller than .*"):
+        LookaheadAnalysisSubFunctions.start(conf)
+
+    conf = deepcopy(lookahead_conf)
+    del conf['strategy']
+    with pytest.raises(OperationalException,
+                       match=r"No Strategy specified"):
+        LookaheadAnalysisSubFunctions.start(conf)
+
+
+def test_lookahead_helper_start(lookahead_conf, mocker, caplog) -> None:
+    single_mock = MagicMock()
+    text_table_mock = MagicMock()
+    mocker.patch.multiple(
+            'freqtrade.optimize.lookahead_analysis_helpers.LookaheadAnalysisSubFunctions',
+            initialize_single_lookahead_analysis=single_mock,
+            text_table_lookahead_analysis_instances=text_table_mock,
+        )
+    LookaheadAnalysisSubFunctions.start(lookahead_conf)
+    assert single_mock.call_count == 1
+    assert text_table_mock.call_count == 1
+
+    single_mock.reset_mock()
+    text_table_mock.reset_mock()
+
+
 def test_biased_strategy(lookahead_conf, mocker, caplog) -> None:
 
     mocker.patch('freqtrade.data.history.get_timerange', get_timerange)