BS 10 pips a day Trading System

 BS 10 pis a day Trading System

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.

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.

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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

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

trade.

• 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

  • Platform: Metatrader4
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • How to install MT4 indicator?
  • 1. On the desktop, double-click to open the MT4 trading platform software you installed.
  • 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT4, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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