1. What’s the minimal stability required to function Boring Pips?
The beneficial minimal stability for secure buying and selling with Boring Pips is 500 USD. This quantity is important to commerce all 3 beneficial foreign money 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 provides 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 stage?
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 alternative between an account with no fee and excessive unfold versus one with fastened 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 akin to IC Markets, Tickmill, FBS, Exness, Roboforex, Adimal Markets, FP Markets, XM, offering steady efficiency.
Go for brokers guaranteeing the beneficial leverage and unfold. Select respected brokers to keep away from value manipulation and slippage.
Brokers imposing 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 dimension) might not align with Boring Pips’ buying and selling model.
5. Can Boring Pips be used alongside different EAs on the identical account?
Sure, it might probably.
Typically, working 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 singular ID quantity, so it’ll solely handle and shut these positions. Please examine with the opposite builders about their EAs. In case you’re undecided concerning the reply, it is beneficial to attempt working 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 could be put in on an infinite 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 need to use Boring Pips on an infinite variety of buying and selling accounts on as much as 8 completely different computer systems.
Downloading up to date variations of EA shouldn’t be counted as an activation.
Handle your gadgets successfully. In case of VPS rental, select a long-term plan and the choice to resume the present VPS as a substitute of renewing the VPS deal with. This fashion you need to use the EA for an infinite time.
7. Do you could have any recommendation on selecting and utilizing VPS?
Concerning VPS, in the event 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 offers their very own VPS service, which is appropriate for brand new clients utilizing EA for the primary time and don’t wish to deeply contain in VPS operation, as all the pieces is already built-in into the system and customers solely have to hire VPS, pay and press the ‘Synchronize’ button.
In case you desire a ‘’true’’ digital pc, the place you possibly can 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’ll assist you in your native language and simple cost.
8. What settings are the Boring Pips sign account utilizing?
EA’s sign account is at the moment set to Medium danger whereas maintaining different settings at default. This configuration has been in use since October 2023.
Beforehand, EA was set to Excessive danger with customized settings changes on the preliminary stage, then switched to Low danger in August and September of final 12 months.
The choice to alter was primarily based on my notion of the upcoming market situations.
9. Can Boring Pips be used for Propfirm problem? What ought to I consider?
Boring Pips was not initially developed to cross the PF problem, it was created to convey regular and long-term income moderately than sudden excessive income in a brief time frame. Boring Pips additionally doesn’t have a mechanism to handle every 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 attempt with Low danger and scale back your ‘Base stability’ to 25-50% of the particular stability in PF problem account. This can trigger buying and selling quantity to lower and MDD to lower accordingly.
You should rigorously analysis the necessities of the PF you wish to be a 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 value fluctuations, to allow them to transfer in a single route for a very long time. Moreover, Gold is delicate to rate of interest information and geopolitical fluctuations, whereas BTC could be extremely risky to rumors. On account of these causes, Boring Pips usually are not appropriate for buying and selling with these devices.
11. Can Boring Pips be used to commerce different foreign money pairs?
Some foreign money pairs might have related properties to the three beneficial pairs however I didn’t have the chance to analysis them extra extensively. For me AUDNZD, AUDCAD and NZDCAD are sufficient for the time being and spending loads of time buying and selling these pairs offers me the chance to grasp them higher.
Some foreign money pairs it’s possible you’ll think about 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 danger use 3 extremely dependable fashions
– Medium makes use of 3 extremely dependable fashions and 1 reasonably dependable mannequin.
– Excessive danger 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 danger setup can also be bigger than decrease danger. On account of using likelihood dispersion, every setup will embody many teams with completely different entry and exit factors, the distinction in quantity can be expressed by way of the completely different variety of teams, whereas the amount of every particular person place stays unchanged.
13. What occurs after I change my buying and selling frequency?
Whenever you change your buying and selling frequency, the order entry situations can be tighter/looser than standard, thereby inflicting fewer/extra buying and selling alternatives to look.
14. Are you able to clarify how EA operates?
As a substitute of concentrating buying and selling quantity at one value stage, Boring Pips divides the place into a number of smaller positions with completely different entry and exit factors, then manages them individually in teams. This can be a mechanism to raised distribute danger whereas guaranteeing steady buying and selling efficiency.
There isn’t any particular quantity concerning the multiplier for martingale orders, will probably be primarily based on the value of getting into and the anticipated value 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 isn’t any fastened distance between grid orders, it’ll vary from 30 – 70 pips relying on the prevalence of provide/demand ranges. Every foreign money pair may have a special distance primarily based on their common fluctuation amplitude.
EA closes the place primarily based on the fibo retracement stage.
15. What’s the anticipated revenue and danger with every Danger mode?
Based mostly on backtest outcomes from 2010 with Tickstory information, the anticipated revenue ranges and MDD for every danger mode are as follows: Boring (2-3%/month & 15-20% MDD), Low danger (3-5%/month & 20-25% MDD), Medium danger ( 5-8%/month & 30-40% MDD), Excessive danger (8-15%/month & 40-60% MDD).
Though previous outcomes can not assure related 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 ought to be taken from 2010 to make sure statistically significant outcomes. Extending the backtesting course of with older information will assist develop the pattern dimension, however older information tends to deviate from the present market situations.
MT5 helps backtesting a number of foreign money pairs concurrently, offering an general view of the utmost drawdown (MDD) and income when buying and selling foreign money pairs collectively.
With MT4, you possibly can solely backtest one foreign money pair at a time, so you could course of the information after backtesting to consolidate the MDD and income of the foreign money pairs.
Within the preliminary backtesting classes, it’s advisable to allow ‘Visible mode’ to look at how the EA operates and guarantee correct backtesting outcomes.
In some circumstances when backtesting a number of foreign money pairs with MT5, a number of foreign money pairs might not commerce in any respect through the backtesting course of. This case usually happens when backtesting an EA for the primary time or when switching between completely different EAs throughout completely different backtesting classes. Enabling ‘Visible mode’ helps determine these anomalies and stops the present course of to keep away from losing time. Then you definately merely have to 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 may be very gradual?
There are 3 causes that result in gradual backtesting velocity of an EA:
(1). Laptop configuration: Backtesting an EA doesn’t require a high-end pc configuration, however just a few minimal situations akin to not less than 30GB of accessible reminiscence, a 4-core CPU, and 4GB of RAM will guarantee smoother backtesting.
(2). Complexity of the EA: EAs that assist a number of foreign money pairs, akin to Boring Pips, would require extra loops than EAs that don’t assist a number of foreign money 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 probably the most time. Different fashions akin to ”Management level” or ”OHLC M1” have decrease information high quality, leading to sooner backtesting velocity.
Please make certain your pc meets the minimal necessities and that the backtest information is dependable, and the backtest outcomes can be well worth the wait. You can too think about unchecking ‘’Visible mode’’ to hurry up backtesting.
18. Boring Pips can be utilized as an funding channel to convey steady long-term income?
Sure. It is suggested to prioritize utilizing low-risk modes (Boring mode or Low danger mode) to keep away from important fluctuations in your account. Low-risk mode implies decrease revenue charges, however your endurance can be duly rewarded.
Using danger administration can also be suggested to make sure you don’t lose greater than what you possibly can afford. Contemplate setting a tough cease loss stage, 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 foreign money 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 traditional operation of the EA.
20. Is there any distinction between the MT4 and MT5 variations? Which model ought to I select?
There isn’t any distinction in buying and selling operations between the MT4 and MT5 variations of Boring Pips.
In case you nonetheless do not have a alternative so I like to recommend utilizing the MT5 model, it helps backtesting many foreign money pairs on the identical time. Model MT5 can also be constructed on a extra superior programming language and can obtain longer-term assist from the MQL5 group.
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). Guarantee that 3 foreign money 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 foreign money 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 be aware that if the symbols offered by your dealer have a suffix/prefix (e.g. AUDNZDg, NZDCAD.f) you could enter the very same within the ”Buying and selling symbols” part, separating foreign money pairs by whitespace.
22. “Foreign money conversion” warning seems throughout set up, what ought to I do?
A warning about foreign money conversion seems through the set up of EA when the bottom foreign money of the account shouldn’t be USD. It’s actually crucial when your accounts are denominated in AUD, JPY, or GBP. With EUR, the change charge is nearly 1 so there can be little or no impression on the calculated buying and selling quantity.
Accordingly, in case your account has a base foreign money of USD or EUR, ignore this warning and proceed with the traditional set up.
In case your account foreign money makes use of different currencies, you will need to convert it to USD and enter the quantity in ”Base stability”, if that is omitted the EA will calculate order quantity incorrectly.
For example you could have an account stability of 10,000 AUD, there are two eventualities:
(1). In case you do not convert to USD and enter “10000” because the “Base stability” (or simply maintain it default as 0), the EA will place an order with 0.2 heaps/place (10000/500*0.01).
(2). In case you convert primarily based on the present change charge of 1 USD = 1.58 AUD, then the Base stability 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 stability to USD is 54% increased than the usual quantity. Revenue and danger may even improve accordingly.
The foreign money 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 traces are drawn on the chart, and account info is displayed on the management panel.
– The smiley face icon within the prime 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 could have every other communication channels akin to telegram, discord? Is there a bunch for Boring Pips customers?
At present I haven’t got any teams aside from the present direct chat channel, you can too e-mail me at: boringpips.cs@gmail.com.
Different discussions regarding the EA could be made by way of the Feedback part right here: https://www.mql5.com/en/market/product/103505?supply=Website+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 fully on market situations and the Danger mode used.
In response to MQL5 statistics, sign accounts have a median of 6 positions per week and a place holding interval of two days. Nonetheless, that is a median quantity and in actuality will probably be kind of. It’s fully regular for EAs to not place orders for just a few days.
Be certain that all the pieces is working correctly and your wait can be price it.
26. Why is the buying and selling exercise on my account completely different from yours, despite the fact that we use the identical settings file?
Please be told that completely different brokers might have completely different value information. Even the identical dealer nonetheless has completely different spreads between account varieties. All of those result in variations in buying and selling actions, though small, they’ll nonetheless happen.
27. EA opens a number of orders on the identical time and value then closes them instantly, what ought to I do?
It’s doubtless 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 foreign money pair seem greater than as soon as throughout setup can lead the EA to double up on orders for that foreign money pair.
(2). You is likely to be utilizing the EA on a number of gadgets with the identical buying and selling account. This usually happens when you could have put in the EA on a VPS however nonetheless have it working 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 routinely be disabled to stop the EA from working on two gadgets. 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 foreign money pairs to be entered in “Buying and selling Symbols”. If I wish to commerce greater than 3 foreign money pairs, what ought to I do?
In case you want to commerce greater than 3 foreign money pairs, for instance, in the event you enter “AUDNZD NZDCAD AUDCAD EURUSD” the pair EURUSD is not going to be traded.
To commerce extra foreign money 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 foreign money pairs you wish to commerce). For instance, you possibly can 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 foreign money pair you wish to commerce past the beneficial 3 pairs. As an illustration, you possibly can enter only 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 verify the setup.
Word to allocate much less capital to foreign money pairs in the event you commerce greater than the beneficial quantity, you need to use “Base stability” to do that.
29. There’s about to be vital information introduced and I do not need EA to proceed buying and selling at the moment, what ought to I do?
Boring Pips has the operate to pause buying and selling with the ”Pause” button on the show display screen. Then new orders is not going to be entered whereas current orders will nonetheless be managed and closed usually.
You would possibly think about using this button earlier than the information is printed, 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. How you can set a tough cease loss, I wish 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 possibly can set a most loss stage you enable (in base foreign money), 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 stage is to base it on the MDD (Maximal Drawdown) stage through the backtest with the corresponding parameters throughout dwell buying and selling. You’ll be able to then use this drawdown stage or barely bigger as a cease loss for the EA.
31. What occurs after I restart the EA or change parameters whereas the EA has open positions?
Throughout operation, some circumstances that may result in restarting the EA, embody: the pc/VPS the place the EA is put in is abruptly 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 routinely determine its positions by way of the ‘magic quantity’ and order feedback, which helps it proceed to function usually. To verify all the pieces works as anticipated, you possibly can examine the next two points:
(1). Proper-click on the EA identify on the prime proper of the chart, choose Properties to examine the present settings getting used. Be certain that they’re right in your necessities.
(2). Examine 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 be aware when adjusting parameters throughout operation is to make sure all positions are closed in the event you change the Danger mode. It’s because completely different Danger modes have various numbers of entry fashions; switching to a special danger mode might render some entry fashions unused, leading to positions related to these fashions not being managed anymore.
