Fast and Furious Trading

In this week BKT Weeks Video, Boris Schlossberg continued his discussion on the 10 pips strategy. This link (Fast and Furious Trading) will direct you to his YouTube video.

His rules are as follows:

1. Look at 5 min charts - on EUR/USD and USD/JPY
2. Sell 2nd candle close above 2nd SD Band (for Sell Trades) or close below 2nd SD Band (for Buy Trades). Exception is 00 and 05 level.
3. Trade on all sessions using EUR and JPY
4. 10 pips stop; 7 pip limit

There are some interesting observations:

1. Boris stressed that this is not a strategy that can be automated. So, he believes that if someone designs an EA on this strategy, it will fail as there is discretion as to whether the rules should be implemented.

2. This is not a Holy Grail. There will be losing trades. I have personally observed the strategy and interestingly, it is more likely than not making money.

3. In this version, Boris did not cover the use of GBP/USD although in his video last week, he said GBP/USD may be incorporated into this system to improve the equty curve of the entire system.