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
Use the 'Steve's Bollinger Bands' template to do the work for you –
this will also place the Candle Time indi on your chart.
Here is the trading system:
• 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
to hit, we should BUY.
• 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
low-spread pairs, hence the low MaxSpread setting.
• This method 'wins' 7\10 times, according to BS. This means that strings of losers do
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.
• TradeBoxHigh and TradeBoxLow define the trading box, by default 70(0) pips
above the nearest round low and 30(0) above it. The
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