# 139# BS 10 pis a day Trading System

Submit by Joy 22 (Written By Boris Schlossberg)

This is what Schlossberg describes as the trade setup:

• Drag a standard Bollinger Bands indi (look under Indicators in the Navigator

window).with a standard deviation of 2.

• Drag a second standard Bollinger Bands indi with a standard deviation of 1. Colour

this one differently, so the position of the middle lines of the resulting pattern are

always obvious.

Use the 'Steve's Bollinger Bands' template to do the work for you –

this will also place the Candle Time indi on your chart.

• We trade a spike out of the two extreme BB lines.

• At the start of each new candle:

◦ When the previous 2 candles closed above the top line and the market is

sufficiently far above the next low round number + 20(0) to allow the take profit

to hit, we should SELL.

◦ When the previous 2 candles closed below the bottom line and the market is

sufficiently far below the next high round number - 20(0) to allow the take profit

• Stop loss = 10(0).

• Take profit = 7(0).

In the pictures  BS 10 pips a day in action.

Here is an example Long trade from my demo this morning. The green arrow marks the

candle when the trade was sent – see 4 candles back from the right of the picture. The two

previous candles had both closed beneath the bottom BB line. With the trade taken at

1.34265, the nearest round number was a long way away.

A few points to note:

• This is scalping for a few pips at each trade. You can only trade this way with

• This method 'wins' 7\10 times, according to BS. This means that strings of losers do

happen.

When two successive losers occur, then we assume that there is something going

on in the market that we do not know about, and step aside for half an hour or so.

• BS states in his final video that this is not a 'trading strategy' on its own, and that the

trader needs experience and judgement to know when to trade and when not to

• BS states in his final video that this trading method cannot be automated profitably.

above the nearest round low and 30(0) above it.

BS 10 pips a day forex system Templete
Steve's bollinger bands.rar
compressed file archive 1011 Bytes