1. What’s the minimal steadiness required to function Boring Pips?
The really helpful minimal steadiness for secure buying and selling with Boring Pips is 500 USD. This quantity is important to commerce all 3 really helpful forex pairs concurrently.
2. What’s the minimal leverage required to function Boring Pips?
The acceptable leverage for buying and selling with EA is from 1:100 onwards. In case your dealer presents decrease leverage, think about using Boring Mode (with leverage from 1:30) and Low Danger Mode (with leverage from 1:50).
3. Are there any concerns concerning the unfold degree?
Prioritize working Boring Pips with low spreads, ideally starting from 30 factors (3 pips) or decrease. Accounts with increased spreads are likely to enter Purchase orders later and exit Promote orders later.
Given a selection between an account with no fee and excessive unfold versus one with mounted fee and low unfold, the latter is most well-liked.
4. Any recommendation on choosing a Dealer?
Boring Pips is at the moment operational on brokers equivalent to IC Markets, Tickmill, FBS, Exness, Roboforex, Adimal Markets, FP Markets, XM, offering steady efficiency.
Go for brokers making certain the really helpful leverage and unfold. Select respected brokers to keep away from worth manipulation and slippage.
Brokers implementing FIFO rule (First in first out – rule requires merchants to shut the primary commerce earlier than opening one other new commerce of the identical pair and measurement) might not align with Boring Pips’ buying and selling fashion.
5. Can Boring Pips be used alongside different EAs on the identical account?
Sure, it might probably.
Typically, operating two EAs on the identical account should not trigger any points, so long as every EA has its personal ‘magic quantity’ and manages its positions individually primarily based on this ‘magic quantity’ with out affecting positions managed by different EAs.
Boring Pips’ positions are all assigned a novel ID quantity, so it should solely handle and shut these positions. Please test with the opposite builders about their EAs. For those who’re unsure in regards to the reply, it is really helpful to strive operating 2 EAs on a demo account for some time earlier than working on dwell acount.
6. What do the 8 activations imply when shopping for EA efficiently?
Upon profitable buy of EA, you should have 8 activations. With every activation, EA may be put in on a limiteless variety of buying and selling accounts, terminals, and brokers on the identical pc. Solely when putting in EA on a special pc will an activation be used up. This implies you should utilize Boring Pips on a limiteless variety of buying and selling accounts on as much as 8 totally different computer systems.
Downloading up to date variations of EA shouldn’t be counted as an activation.
Handle your units successfully. In case of VPS rental, select a long-term plan and the choice to resume the prevailing VPS as a substitute of renewing the VPS handle. This fashion you should utilize the EA for a limiteless time.
7. Do you have got any recommendation on selecting and utilizing VPS?
Concerning VPS, should you solely plan to make use of Boring Pips on 1 or 2 accounts, a minimal configuration of 1GB RAM and 1 core CPU, 16GB storage reminiscence is sufficient to meet your wants. If you wish to run EA on extra accounts, think about using a better configuration VPS.
MQL5 additionally supplies their very own VPS service, which is appropriate for brand spanking new clients utilizing EA for the primary time and don’t need to deeply contain in VPS operation, as all the pieces is already built-in into the system and customers solely must lease VPS, pay and press the ‘Synchronize’ button.
In case you desire a ‘’true’’ digital pc, the place you’ll be able to set up extra accounts, EA as you want, then you shouldn’t use the MQL5 VPS service, I like to recommend merely selecting an area service supplier, the place they will assist you in your native language and simple fee.
8. What settings are the Boring Pips sign account utilizing?
EA’s sign account is at the moment set to Medium threat whereas holding different settings at default. This configuration has been in use since October 2023.
Beforehand, EA was set to Excessive threat with customized settings changes on the preliminary stage, then switched to Low threat in August and September of final yr.
The choice to vary was primarily based on my notion of the upcoming market circumstances.
9. Can Boring Pips be used for Propfirm problem? What ought to I take note?
Boring Pips was not initially developed to go the PF problem, it was created to convey regular and long-term earnings slightly than sudden excessive earnings in a brief time period. Boring Pips additionally doesn’t have a mechanism to handle each day DD and max DD.
Nonetheless, just lately most PFs have eliminated the time restrict for his or her challenges. Customers of Boring Pips can strive with Low threat and scale back your ‘Base steadiness’ to 25-50% of the particular steadiness in PF problem account. It will trigger buying and selling quantity to lower and MDD to lower accordingly.
It’s worthwhile to fastidiously analysis the necessities of the PF you need to be part of earlier than deciding whether or not to make use of Boring Pips or not.
10. Can Boring Pips be used to commerce Gold, BTC?
No. Gold and BTC have giant worth fluctuations, to allow them to transfer in a single path for a very long time. Moreover, Gold is delicate to rate of interest information and geopolitical fluctuations, whereas BTC may be extremely risky to rumors. On account of these causes, Boring Pips will not be appropriate for buying and selling with these devices.
11. Can Boring Pips be used to commerce different forex pairs?
Some forex pairs might have comparable properties to the three really helpful pairs however I didn’t have the chance to analysis them extra extensively. For me AUDNZD, AUDCAD and NZDCAD are sufficient in the meanwhile and spending a variety of time buying and selling these pairs offers me the chance to grasp them higher.
Some forex pairs you could contemplate for backtesting are: EURUSD, NZDUSD, USDCAD, EURCHF, AUDCHF, NZDCHF.
12. What are the variations between Danger modes?
(1) Entry Mannequin:
Boring Pips makes use of 6 fashions to make selections in trades, together with:
– Boring and Low threat use 3 extremely dependable fashions
– Medium makes use of 3 extremely dependable fashions and 1 reasonably dependable mannequin.
– Excessive threat makes use of all 6 fashions, together with 3 extremely dependable fashions and three reasonably dependable fashions.
(2) Buying and selling quantity:
The allowed buying and selling quantity at every increased threat setup can be bigger than decrease threat. On account of using chance dispersion, every setup will embody many teams with totally different entry and exit factors, the distinction in quantity will likely be expressed by the totally different variety of teams, whereas the amount of every particular person place stays unchanged.
13. What occurs once I change my buying and selling frequency?
Once you change your buying and selling frequency, the order entry circumstances will likely be tighter/looser than ordinary, thereby inflicting fewer/extra buying and selling alternatives to look.
14. Are you able to clarify how EA operates?
As an alternative of concentrating buying and selling quantity at one worth degree, Boring Pips divides the place into a number of smaller positions with totally different entry and exit factors, then manages them individually in teams. It is a mechanism to raised distribute threat whereas making certain steady buying and selling efficiency.
There is no such thing as a particular quantity in regards to the multiplier for martingale orders, will probably be primarily based on the worth of getting into and the anticipated worth of exiting to calculate the buying and selling quantity. EA grows quantity slowly and resembles an arithmetic development, not aggressively like an exponential development.
Likewise, there is no such thing as a mounted distance between grid orders, it should vary from 30 – 70 pips relying on the prevalence of provide/demand ranges. Every forex pair could have a special distance primarily based on their common fluctuation amplitude.
EA closes the place primarily based on the fibo retracement degree.
15. What’s the anticipated revenue and threat with every Danger mode?
Primarily based on backtest outcomes from 2010 with Tickstory information, the anticipated revenue ranges and MDD for every threat mode are as follows: Boring (2-3%/month & 15-20% MDD), Low threat (3-5%/month & 20-25% MDD), Medium threat ( 5-8%/month & 30-40% MDD), Excessive threat (8-15%/month & 40-60% MDD).
Though previous outcomes can not assure comparable efficiency sooner or later as a result of ever-changing nature of the market, they function a foundation for expectations.
16. How ought to I proceed with backtesting?
You must use information from dependable sources (Tickstory, Tick Information Suite, and so on.) and make the most of the ‘Each tick primarily based on actual tick’ mannequin with MT5 or the ‘Each tick’ mannequin with MT4 when conducting backtests. This ensures extra dependable backtesting outcomes.
The backtesting interval needs to be taken from 2010 to make sure statistically significant outcomes. Extending the backtesting course of with older information will assist increase the pattern measurement, however older information tends to deviate from the present market circumstances.
MT5 helps backtesting a number of forex pairs concurrently, offering an general view of the utmost drawdown (MDD) and earnings when buying and selling forex pairs collectively.
With MT4, you’ll be able to solely backtest one forex pair at a time, so you should course of the info after backtesting to consolidate the MDD and earnings of the forex pairs.
Within the preliminary backtesting classes, it’s advisable to allow ‘Visible mode’ to watch how the EA operates and guarantee correct backtesting outcomes.
In some instances when backtesting a number of forex pairs with MT5, a number of forex pairs might not commerce in any respect throughout the backtesting course of. This example typically happens when backtesting an EA for the primary time or when switching between totally different EAs throughout totally different backtesting classes. Enabling ‘Visible mode’ helps determine these anomalies and stops the present course of to keep away from losing time. Then you definitely merely must press ‘Begin’ to start backtesting once more, all the pieces will return to regular.
17. What ought to I do if the backtesting course of could be very sluggish?
There are 3 causes that result in sluggish backtesting velocity of an EA:
(1). Laptop configuration: Backtesting an EA doesn’t require a high-end pc configuration, however just a few minimal circumstances equivalent to not less than 30GB of obtainable reminiscence, a 4-core CPU, and 4GB of RAM will guarantee smoother backtesting.
(2). Complexity of the EA: EAs that assist a number of forex pairs, equivalent to Boring Pips, would require extra loops than EAs that don’t assist a number of forex pairs. The complexity of sign entry, the effectiveness of order processing… additionally impacts the velocity of backtesting.
(3). Reliability of historic information: Backtesting with ”Each tick” on MT4 or ”Each tick primarily based on actual tick” on MT5 will present the very best reliability but in addition require essentially the most time. Different fashions equivalent to ”Management level” or ”OHLC M1” have decrease information high quality, leading to quicker backtesting velocity.
Please be certain that your pc meets the minimal necessities and that the backtest information is dependable, and the backtest outcomes will likely be definitely worth the wait. You can even contemplate unchecking ‘’Visible mode’’ to hurry up backtesting.
18. Boring Pips can be utilized as an funding channel to convey steady long-term earnings?
Sure. It is strongly recommended to prioritize utilizing low-risk modes (Boring mode or Low threat mode) to keep away from vital fluctuations in your account. Low-risk mode implies decrease revenue charges, however your persistence will likely be duly rewarded.
Using threat administration can be suggested to make sure you don’t lose greater than what you’ll be able to afford. Think about setting a tough cease loss degree, which can be equal to or barely increased than the Most Drawdown (MDD) obtained out of your backtest outcomes.
19. Ought to I set up the EA on 1 chart or 3 charts?
Set up the EA on a single chart.
Boring Pips is an EA that helps multi-currency buying and selling, permitting you to put in it on one chart to commerce all forex pairs within the configured ‘’Buying and selling Symbols’’ part. Putting in the EA on a number of charts might result in duplicate trades, affecting the conventional operation of the EA.
20. Is there any distinction between the MT4 and MT5 variations? Which model ought to I select?
There is no such thing as a distinction in buying and selling operations between the MT4 and MT5 variations of Boring Pips.
For those who nonetheless do not have a selection so I like to recommend utilizing the MT5 model, it helps backtesting many forex pairs on the identical time. Model MT5 can be constructed on a extra superior programming language and can obtain longer-term assist from the MQL5 neighborhood.
21. Boring Pips is faraway from the chart instantly after set up? What ought to I do with error code 1 throughout set up?
Typically that EAs are faraway from the chart proper after set up with error code 1, comply with these steps to put in the EA:
(1). Be sure that 3 forex pairs have appeared on Market Watch: press Ctrl + M (in case Market watch doesn’t present), press Ctrl + U to name up the Image window and double-click on the forex pair so as to add them to Market watch.
(2). As soon as all buying and selling pairs have been added to Market watch, shut the present MT4/MT5 window and reopen it.
(3). Open any chart of AUDNZD M5, AUDCAD M5 or NZDCAD M5 and set up the EA with the settings file I despatched on ONLY ONE CHART.
Please word that if the symbols supplied by your dealer have a suffix/prefix (e.g. AUDNZDg, NZDCAD.f) you should enter the very same within the ”Buying and selling symbols” part, separating forex pairs by whitespace.
22. “Foreign money conversion” warning seems throughout set up, what ought to I do?
A warning about forex conversion seems throughout the set up of EA when the bottom forex of the account shouldn’t be USD. It’s actually mandatory when your accounts are denominated in AUD, JPY, or GBP. With EUR, the change fee is nearly 1 so there will likely be little or no impression on the calculated buying and selling quantity.
Accordingly, in case your account has a base forex of USD or EUR, ignore this warning and proceed with the conventional set up.
In case your account forex makes use of different currencies, you will need to convert it to USD and enter the quantity in ”Base steadiness”, if that is omitted the EA will calculate order quantity incorrectly.
For instance you have got an account steadiness of 10,000 AUD, there are two situations:
(1). For those who do not convert to USD and enter “10000” because the “Base steadiness” (or simply maintain it default as 0), the EA will place an order with 0.2 heaps/place (10000/500*0.01).
(2). For those who convert primarily based on the present change fee of 1 USD = 1.58 AUD, then the Base steadiness will solely have a price of “6329”. The EA will place an order with a quantity of 0.13 heaps/place (6329/500*0.01).
Quantity within the case of not changing the Base steadiness to USD is 54% increased than the usual quantity. Revenue and threat may even enhance accordingly.
The forex conversion warning solely seems when putting in the EA and serves as a reminder. In case you don’t convert as instructed, the EA will nonetheless discover and open positions usually.
23. How do I do know if EA has been put in efficiently?
There are a variety of indicators to know that Boring Pips has been efficiently put in:
– Provide/demand strains are drawn on the chart, and account info is displayed on the management panel.
– The smiley face icon within the high proper nook of the chart has the EA put in (with MT4 model).
– Within the Knowledgeable tab, it exhibits: “EA will course of 3 image(s), together with: AUDNZD, NZDCAD, AUDCAD.” and there are not any error messages.
24. Do you have got every other communication channels equivalent to telegram, discord? Is there a gaggle for Boring Pips customers?
At present I haven’t got any teams apart from the present direct chat channel, you can even e mail me at: boringpips.cs@gmail.com.
Different discussions regarding the EA may be made by the Feedback part right here: https://www.mql5.com/en/market/product/103505?supply=Web site+Profile#!tab=feedback&web page=2
25. Some days EA is totally silent, is that this regular?
Boring Pips buying and selling frequency relies upon solely on market circumstances and the Danger mode used.
In keeping with MQL5 statistics, sign accounts have a mean of 6 positions per week and a place holding interval of two days. Nonetheless, that is a mean quantity and in actuality will probably be roughly. It’s fully regular for EAs to not place orders for just a few days.
Be certain all the pieces is operating correctly and your wait will likely be price it.
26. Why is the buying and selling exercise on my account totally different from yours, despite the fact that we use the identical settings file?
Please be told that totally different brokers might have totally different worth information. Even the identical dealer nonetheless has totally different spreads between account sorts. All of those result in variations in buying and selling actions, though small, they will nonetheless happen.
27. EA opens a number of orders on the identical time and worth then closes them instantly, what ought to I do?
It’s seemingly that the EA is incorrectly configured, inflicting it to double up on orders, thus affecting the exiting. There are two typical causes for this example:
(1). You might have put in the EA on a number of charts, every with the ‘Buying and selling symbols’ set as ‘AUDNZD NZDCAD AUDCAD’. Having a forex pair seem greater than as soon as throughout setup can lead the EA to double up on orders for that forex pair.
(2). You may be utilizing the EA on a number of units with the identical buying and selling account. This typically happens when you have got put in the EA on a VPS however nonetheless have it operating in your private pc.
When utilizing the MQL5 VPS service, after efficiently putting in the EA and clicking ‘Synchronize’, the ‘Auto buying and selling’ operate in your private system will robotically be disabled to forestall the EA from operating on two units. Some customers mistakenly re-enable ‘Auto buying and selling’, inflicting the EA to double up on orders.
28. Boring Pips solely permits a most of three forex pairs to be entered in “Buying and selling Symbols”. If I need to commerce greater than 3 forex pairs, what ought to I do?
In case you want to commerce greater than 3 forex pairs, for instance, should you enter “AUDNZD NZDCAD AUDCAD EURUSD” the pair EURUSD won’t be traded.
To commerce extra forex pairs, please comply with these steps:
(1). Open a brand new chart and set up Boring Pips on it (ideally, use a chart of one of many forex pairs you need to commerce). For instance, you’ll be able to open a chart for EURUSD M5.
Set up Boring Pips on the newly opened chart.
(2). Within the “Buying and selling Symbols” part, please enter the forex pair you need to commerce past the really helpful 3 pairs. As an illustration, you’ll be able to enter just one pair “EURUSD”
(3). Within the “Magic quantity” part, use a special magic quantity than the one getting used within the remaining chart. For instance, “13000”
(4). Double-check the opposite settings and press OK to substantiate the setup.
Notice to allocate much less capital to forex pairs should you commerce greater than the really helpful quantity, you should utilize “Base steadiness” to do that.
29. There may be about to be essential information introduced and I do not need EA to proceed buying and selling right now, what ought to I do?
Boring Pips has the operate to pause buying and selling with the ”Pause” button on the show display. Then new orders won’t be entered whereas current orders will nonetheless be managed and closed usually.
You may think about using this button earlier than the information is revealed, then turning it again on when publishing is over.
Nonetheless, Boring Pips is an EA designed for absolutely automated buying and selling, stopping the EA constantly might have an effect on the general efficiency.
30. Methods to set a tough cease loss, I need to set the utmost loss I can settle for?
“Danger administration” on the backside of the settings panel is used for this goal.
Accordingly, you’ll be able to set a most loss degree you enable (in base forex), then the EA will take the actions you request (Shut all present positions / Cease opening new positions).
An efficient method to find out the cease loss degree is to base it on the MDD (Maximal Drawdown) degree throughout the backtest with the corresponding parameters throughout dwell buying and selling. You possibly can then use this drawdown degree or barely bigger as a cease loss for the EA.
30. What occurs after I restart the EA or change parameters whereas the EA has open positions?
Throughout operation, some instances that may result in restarting the EA, embody: the pc/VPS the place the EA is put in is all of the sudden turned off, shutting down the MT4/MT5 software program and restarting, closing the chart with the EA put in and reopening it, eradicating the EA from the chart and reinstall it, altering chart timeframe, altering setting parameters.
Typically, as soon as reinstalled, EA will robotically determine its positions by the ‘magic quantity’ and order feedback, which helps it proceed to function usually. To ensure all the pieces works as anticipated, you’ll be able to test the next two points:
(1). Proper-click on the EA identify on the high proper of the chart, choose Properties to test the present settings getting used. Be certain they’re appropriate in your necessities.
(2). Test the latest messages on the Knowledgeable tab (scroll down with MT5 or scroll up with MT4), if the message “EA will course of … image(s), together with: ….” seems with none error message afterwards, the EA has been efficiently reinstalled.
A word when adjusting parameters throughout operation is to make sure all positions are closed should you change the Danger mode. It is because totally different Danger modes have various numbers of entry fashions; switching to a special threat mode might render some entry fashions unused, leading to positions related to these fashions not being managed anymore.
