Boss EA

The Boss EA is a fully automated scalping expert advisor that detects the relative highs and lows of the market to locate optimal positions, with a low average holding time of trades. It is designed to help traders squeeze as many trades as possible while protecting their accounts from drawdown. But does the Boss EA live up to its promise? In this comprehensive review, we will examine the features, settings, strengths, and weaknesses of the Boss EA to help readers make an informed decision about whether to use it.

Boss EA Strategy

The Boss EA is a fully automated breakout scalping expert advisor that uses a scalping trading strategy to locate the most optimal positions by detecting relative highs and lows of the market. The EA has a low average holding time of trades, making the most of its time by squeezing as many trades as possible while protecting the account from drawdowns.

Boss EA
Boss EA

One of the strengths of the Boss EA is its ability to work on Forex, metals, and indices. It also has many capital protections, including fixed, risk percentage, max daily drawdown, and martingale options. The EA optimizes profits and limits drawdown with its many indicators and options, such as trailing SL, by SL, by time, or by profit. The developer recommends that the EA should run on a VPS continuously and that a good ECN broker like IC Markets should be used.

The Boss EA utilizes a scalping trading strategy and can also use a martingale option. In the context of the Boss EA, the martingale option means that the trade size is increased after a losing trade. While this can potentially lead to increased profits, it also comes with significant risks. If the market does not turn in the desired direction, the increased trade size could lead to substantial losses. Therefore, it is important for traders to exercise caution when using the martingale option and to employ proper risk management techniques to minimize potential losses.

Boss EA Strategy
Boss EA Strategy

However, the Boss EA may not be suitable for all market conditions. It is best used with pairs that have volatile yet trending movements. The developer recommends using pairs like EUR/USD, US30, and NAS100 and setting the timeframe to H1. Additionally, the EA is not suitable for accounts with less than $5000 with 1:30 leverage, as higher-risk settings may cause problems with free margin. Traders should exercise caution and ensure proper risk management when using this EA, especially during high-volatility markets and news events.

Boss EA Features

  • Fully automated breakout scalping expert advisor
  • Uses a scalping trading strategy, suitable for volatile yet trending market conditions
  • Can be used with Forex, metals, and indices markets
  • Optimizes profits and limits drawdown with various indicators and options, such as trailing stop loss, stop loss by time, stop loss by profit, and more
  • Offers multiple capital protection options, including fixed lot size, risk percentage, max daily drawdown, and martingale
  • Martingale option can increase lot size after a loss, potentially increasing profits but also increasing risk
  • Does not require optimization, as set files are provided with purchase
  • Not sensitive to spread and slippage, although a good ECN broker like IC Markets is recommended
  • Recommended to run on a VPS continuously
  • Can be used with leverage up to 1:30, but low-risk settings are advised for accounts with less than $5,000. With 1:100 leverage, significant risk
  • settings are advised for accounts with $1,000 or more.
  • Recommended trading pairs include EUR/USD, US30, and NAS100
  • Recommended timeframe is H1.

Boss EA Settings

  • Lot Size: The size of the trading lot to be used for each trade.
  • Risk: The percentage of account balance to be risked per trade.
  • Maximum Lots: The maximum number of lots to be used for a single trade.
  • Maximum Spread: The maximum spread allowed for opening a trade.
  • Stop Loss: The maximum amount of loss that can be tolerated per trade.
  • Take Profit: The profit target for each trade.
  • Trailing Stop: The number of pips to trail the stop loss behind the current price.
  • Trailing Step: The distance in pips between the current price and the trailing stop.
  • Break Even: The point at which the stop loss is moved to the entry price to protect against losses.
  • Martingale Factor: The factor by which the lot size is increased after a losing trade.
  • Maximum Martingale Orders: The maximum number of orders that can be opened in a Martingale sequence.
  • Trade Time: The start and end time for trading.
  • Magic Number: A unique identifier for the trades opened by the EA.
  • Comment: A comment to be attached to the trades opened by the EA.

Boss EA Summary

The Boss EA is a fully automated scalping expert advisor that can help traders locate optimal positions by detecting the relative highs and lows of the market. It is designed to make the most of its time by squeezing as many trades as it can while protecting the trader’s account from drawdown.

One of the strengths of the Boss EA is that it is not sensitive to spread and slippage, making it ideal for use with a good ECN broker like IC Markets. Additionally, the EA offers various capital protection options like fixed, risk percentage, max daily drawdown, and martingale, which could help optimize profits and limit drawdown.

However, the use of a martingale option can also be a potential weakness of the EA, as it can lead to an increase in lot sizes and potentially larger drawdowns. It’s important to apply good risk management settings when using the Boss EA and to always demo-test the EA before trading it live.

In terms of costs, the Boss EA is relatively affordable compared to other expert advisors on the market. The developer offers a lifetime license for $499, which includes free updates and support.

The Boss EA is suitable for traders who are interested in scalping and are willing to apply good risk management practices. It may also be more suitable for traders who have experience with expert advisors and understand the potential risks involved.

Free Forex Robot