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BS 10 pips a day trading system
This is what Schlossberg describes as the trade setup:
- Set up a bollinger band by dragging it into the platform. Set standard deviation of 2.
- Set up another Bollinger band with a standard deviation of 1. Set up different colors each Bollinger band.
The trading system:
- We trade when there is a spike out of the two extreme BB lines.
At the start of each new candle.
Sell conditions:
- Previous 2 candles must close above the top line.
- Market must be sufficient far above the next low round number +20(0) to allow take profit to hit.
Buying conditions:
- Previous 2 candles closed must be below the bottom line.
- He market is sufficient far below the next high round number -20(0) to allow take profit to hit.
Place Stop loss = 10(0).
Take profit = 7(0).
NOTE:
• This is scalping for a few pips at each trade. Trade with low spread.
• The winning ratio of this system is 7:10. There will be a losing trade on this.
There must be something wrong in the market when there are 2 consecutive losing streak using this method. Be advised to step out for few hours.
• 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.
• 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.
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