This submit will clarify the enter settings of the EA and supply some operational ideas.

Boring Pips EA combines trendy buying and selling algorithms with traditional buying and selling strategies involving momentum, provide, and demand. Regardless of this, it maintains simplicity and effectiveness in each setup and operation.

Not like many different EAs that overwhelm customers with a protracted record of enter parameters, Boring Pips permits only some settings changes based mostly on consumer threat urge for food. I spent 2 years optimizing entry and exit parameters of the EA utilizing 5 completely different variations of Boring Pips, integrating one of the best settings into the default EA and hiding them. This prevents customers from over-optimizing dangers and ensures consistency in EA utilization.

The standard EA setup course of solely takes 1-2 minutes, with the settings file ready and despatched to you.

My recommendation is to make use of 3 threat modes: Boring, Low threat, or Medium threat for the primary 2-3 months. Ensure you are accustomed to how EAs work and perceive their settings earlier than making any modifications associated to “Customized Settings.”

You may as well discuss with continuously requested questions on the following hyperlink:

   Boring Pips settings desk consists of 16 gadgets divided into 4 sections:

Introducing the identify and model of the EA, customers may also change the ‘magic quantity’ for the EA.

1. Professional advisor: Title of the EA.

2. Model: Present model.

3. Magic quantity: the ID that positions of Boring Pips will carry, serving to the EA handle its positions individually. In the event you use Boring Pips together with different EAs, be sure that the magic numbers of every EA are distinctive.

4. Buying and selling symbols: enter the foreign money pairs you need to commerce with Boring Pips, some notes when getting into foreign money pairs:

– Enter foreign money pairs precisely as supplied by your dealer, together with any suffix/prefix if relevant (e.g., AUDNZDf, AUDNZD.g…)

– Separate foreign money pairs with areas.

– The utmost variety of entries in ‘Buying and selling symbols’ is 3 foreign money pairs. In the event you enter 1 or 2 foreign money pairs, solely these might be traded. In the event you enter greater than 3 foreign money pairs, solely a most of three foreign money pairs might be traded.

– If you wish to commerce greater than 3 foreign money pairs, it is suggested to put in Boring Pips on greater than 1 chart, the place the ‘Buying and selling symbols’ on these charts will enter completely different foreign money pairs.

Please discuss with query 28 within the FAQ for extra data.

5. Threat mode: select a threat mode that fits you, with 4 threat modes from low to excessive: Boring Mode, Low threat, Medium threat, Excessive threat.

Please discuss with query 12 within the FAQ for extra data.

6. Base steadiness: is the idea for calculating the buying and selling quantity to your account.

– By default, the Base steadiness is about to 0, by which case your entire steadiness within the account might be used to calculate the buying and selling quantity in response to the system: Preliminary quantity = Account steadiness / 500 USD x 0.01 lot.

– Once you enter any quantity right here, the EA will use it to calculate the buying and selling quantity, no matter how a lot steadiness is in your account, system: Preliminary quantity = Base steadiness / 500 USD x 0.01 lot.

– If the account’s base foreign money is USD (or EUR, because the alternate fee of 1 EUR is near 1 USD), you’ll be able to merely hold the ‘Base steadiness’ at default (0).

– Vital observe: Base steadiness is measured in USD, in case your account makes use of a base foreign money aside from USD (or EUR), changing to USD and getting into it into Base steadiness is obligatory to make sure the EA calculates the quantity precisely.

Please discuss with query 22 within the FAQ for extra data.

III. Customized Settings

The present parameters displayed on this part are being utilized in Primary Settings. In the event you want to modify them, it’s worthwhile to allow ‘Personalizing buying and selling fashion’ and modify the parameters as desired.

It is strongly recommended to make modifications in Personalized Settings solely after working the EA for 2-3 months and understanding the way it features.

7. Personalizing buying and selling fashion: You must change it to ON first for modifications in Customized Settings to take impact.

8. Order quantity: defines the Preliminary quantity of the primary place.

By default, it’s set to 0, which suggests the buying and selling quantity will stay unchanged in comparison with Primary Settings. In the event you enter a special quantity right here, the EA will use that because the buying and selling quantity.

Be aware: the decimal half ought to use a interval ‘.’ (not a comma ‘,’), the buying and selling quantity ought to fall throughout the vary of the minimal to most buying and selling quantity supplied by your dealer, normally from 0.01 to 100. Solely 2 digits after the decimal level.

9. Buying and selling frequency: Regulate the EA’s buying and selling frequency to Low/Regular/Excessive ranges.

10. Take revenue (pips): Set the profit-taking stage for the EA’s trades. Be aware that that is just for the primary place, subsequent positions within the grid sequence might be closed based mostly on Fibonacci retracement ranges.

11. Cease loss (pips): Set the stop-loss stage for the EA’s positions.

12. Grid technique: Enabled by default. In the event you flip off the Grid, every sign generated by the EA will enter 1-2 positions relying on the Threat mode in use.

13. Martingale technique: Enabled by default. In the event you disable Martingale, the EA’s positions will enter with the identical quantity because the preliminary place. Martingale might be meaningless if the Grid technique is turned off.

IV. Threat Administration

The set up half permits the EA to execute some actions (shut positions/cease buying and selling) when reaching a specified most drawdown stage. 

14. When getting this drawdown stage: Set the utmost drawdown stage within the base foreign money, then EA will take actions in sections 15 and 16 when this stage is breached. Be aware that there must be no adverse signal ‘-‘ earlier than the drawdown quantity. For instance, if you would like the EA to cease buying and selling/shut all positions when reaching a $1000 loss, merely enter ‘1000’.

15. Cease opening new positions: Sure/No. Choice to cease opening new positions when situation 14 is met. On this case, the EA will halt opening new positions whereas managing and shutting current positions usually.

 

16. Closing all present positions: Sure/No. Possibility to shut all present positions managed by the EA when situation 14 is met. 

Be aware that EA solely screens/closes positions that it manages. The drawdown vary in situation 14 can be solely calculated for positions opened by Boring Pips.

Customers of Boring Pips may also make the most of the Pause and Shut buttons on the management panel to Pause buying and selling or Shut all positions at any time when desired.

– The ‘Pause’ button  : in its regular state, it’s grey; when clicked, a affirmation dialog for Pausing buying and selling will seem. As soon as confirmed, the EA will quickly cease opening new positions, whereas present positions are nonetheless managed and closed as typical.

Whereas the EA is Paused, the ‘Pause’ button modifications to ‘Paused’ and turns crimson.

You may click on this button once more to return the EA to regular buying and selling mode.

Be aware that in case you are unable to reactivate the EA (the ‘Pause’ button nonetheless reveals ‘Paused’ in crimson), go to the settings and examine sections 14, 15 beneath ‘Threat administration’; the EA might need reached the utmost allowed drawdown and halted buying and selling. On this case, modify circumstances in part 14 and/or disable actions in part 15 first, then reactivate the EA utilizing the ‘Pause’ button.

– The ‘Shut’ button  : Used to shut all positions managed by Boring Pips. After clicking this button, a affirmation dialog will seem to substantiate your intention to shut all positions. As soon as confirmed, the EA will shut all present positions it has opened.

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You probably have learn this far and nonetheless have questions on EA, please discuss with 31 continuously requested questions right here.

Or be happy to go away me a personal therapeutic massage.

Thanks and Finest Regards, Andy.