Detailed Installation Instructions for Boring Pips EA – Trading Strategies – 30 August 2023

Boring Pips is an expert advisor that combines advanced artificial intelligence algorithms with classic trading strategies involving momentum, support, and resistance levels. Despite its advanced technology, simplicity and user-friendliness are maintained.

Please find the links attached for more details about the Boring Pips EA:

Unlike other trading systems, Boring Pips does not overwhelm users with a long list of input parameters or require extensive optimization of settings. I have already spent the past two years comprehensively and extensively optimizing the EA. This approach minimizes the risk of over-optimization and ensures consistent trading performance. Users are only provided with a few options to optimize the EA according to their trading style.

It is recommended to start with the lowest risk levels, specifically Boring and Low risk, and disable the Personalization settings in the initial 2-3 months. Once you have become familiar with operating the EA and adapting to the system, you can make further adjustments. Remember, the market will always be there for you.

Guide the meaning of the input parameters and setting interface

Boring Pips’ installation interface is divided into 4 parts:

A. GENERAL INFORMATION

1. Exper advisor name

2. Version

3. Magic number: you can customize to create your own ID number to distinguish Boring Pips positions on your terminal, distinguish manually opened positions or other EA”s positions (if you use more than 1 EA).

1. Trading symbols:

2. Risk mode: There are four risk modes, ranked from low to high: Boring, Low Risk, Medium Risk, and High Risk. In order to cater to the varying risk tolerance of investors, it is important to diversify the risk mode. However, since trading requires time, it is advisable not to opt for a risk mode that is too high, to ensure optimal comfort and psychological well-being during operations. 

3. Base balance: The amount of balance to allocate for trading by Boring, this is the basis for calculating the trading volume.

C. PERSONALIZED SETTINGS

The settings in this section have high priority, which means that if a settings in the Personalized section is activated, it will override the corresponding settings in the Basic Settings section.

1. Personalizing trading style: select ON or OFF the personalization mode. By default it will be OFF, then the items below in the Personalization section will be disabled. When turned ON, you can start personalizing the items below (2,3,4,5,6 and 7).

2. Order volume: personalize trading volume. (Value 0: does not change the trading volume).

3. Trading frequency: there are 3 modes Lower/Normal/Higher equivalent to the trading frequency will decrease/stay/increase compared to the basic setting.

4. Take profit: distance of take profit you want to place (in pips).

5. Stop loss: distance of Stop loss you want to place (in pips).

6. Grid stategy: enable/disable grid strategy. If NO is selected, each currency pair will only enter 1 or 2 orders (depending on the risk mode selected in item B.2).

7. Martingale strategy: enable/disable martingale strategy. If NO is selected, all orders have the same volume.

D. RISK MANAGEMENT

1. When getting this drawdown level (in currency): the Floating loss level for the EA to automatically fulfill the requirements in items D.2, D.3. 

• Floating loss = Total loss of open positions + Swap fee + Commission fee. Only positions with magic number in item A.3 are counted.
• Note: there is no minus sign (-) in front of the number, if you want to set the floating loss level as (- $500), you only need to enter 500.  

2. Stop opening new positions: Option to stop entering new positions when reaching the Floating loss level in item D.1.

3. Closing all current positions: Option to close all orders (with magic number in item A.3) when reaching the Floating loss level in item D.1.

1. Pause: in OFF state, the button is gray. When this button is clicked, a window pops up to confirm whether you want to stop opening new positions or not, if confirmed the EA will stop opening new positions and the Pause button turns red.

If you want to continue to open new positions, press ”Pause” one more time and allow the EA to continue looking for signals and enter new orders.

In case the Pause button cannot be turned OFF, check the conditions under items D.1 and D.2 because maybe the system is automatically stopping the order due to reaching the allowed Floating loss, then you need to change the conditions in these two items.

2. Close: used to close all orders with magic numbers in item A.3. When the Close button is pressed, a window will appear for confirmation.

Boring Pips will close all orders it controls when you click OK.