Boring Gold EA: Quick Start & Installation Guide

Setting up your EA correctly is the first step toward "boring" (consistent) profits. Please follow these steps carefully:

1. Initial Setup in MetaTrader 5

Enable Algo Trading: Ensure the "Algo Trading" button at the top of your MT5 terminal is green.

2. Chart Configuration

Asset: Open a single chart for XAUUSD (Gold).

Timeframe: Set the chart to M5 (5-Minute for default and scalp) or M1 (for M1 scalp).

Attachment: Drag and drop the Boring Gold EA from your Navigator window onto the chart.

3. Choosing Your Strategy Mode

When the input window pops up, you have two primary ways to run the EA:

Mode A: Balanced (Default): This is the "Boring" way. It uses standard trend-pullback logic with a hard Stop Loss on every trade. No grids, no martingale.

Mode B: Recovery/Scalping: If you prefer more active management, load the "Recovery" set file from the comments section. This uses a professional hedging suite to manage drawdowns.

4. Key Input Parameters to Note

Lot Sizing: Use Fixed or Risk Lot based on your balance. For a $500 account, a setting of 0.01 per $500 is recommended for conservative growth.

ML Filter: Set to TRUE if you want the EA to be extra "picky" about which trades it takes.

Max Spread: Gold can have high spreads during news. Set this to a value your broker usually maintains (e.g., 20-30 pips) to avoid "slippage" entries.

5. The "Golden Rules" for Success

Don't Touch the Chart: Changing timeframes while a trade is open can disrupt the logic. Keep it on M5.

VPS is Mandatory: For the ATR and ML filters to work 24/5, use a high-quality VPS with low latency to your broker.

Start on Demo: Always run the EA on a demo account for at least one week to understand how the ATR-based Stop Loss moves.

Need help?

If you have questions about specific settings or need the latest .set files, please send me a Private Message here on MQL5. I am here to help you get the most out of your "Boring" journey!