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
‘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
sufficiently far above the next low round number + 20(0) to allow the take
to hit, we should SELL.
◦ When the previous 2 candles closed below the bottom line and the market
sufficiently far below the next high round number – 20(0) to allow the take
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
candle when the trade was sent – see 4
candles back from the right of the picture.
previous candles had both closed beneath the bottom BB
line. With the trade taken
1.34265, the nearest round number was a long way away.
A few points to note:
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
When two successive losers occur, then we assume that there is something
on in the market that we do not know about, and step aside for half an hour or
• 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
• BS states in his final video that this trading method cannot be automated
• TradeBoxHigh and TradeBoxLow define the trading box, by default 70(0)
- 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