CHF-JPY Range Trade - Bollinger Band

WON: 1 pip (First Trade)
WON: 1 pip (2nd Trade)
WON: 1 pip (3rd Trade)
WON: 1 pip (4th Trade)


I'm back to Range Trading with Bollinger Bands again.
I've mentioned this new Strategy before, but here it is again:

One-PIP Range Trading Strategy:
1. Look for a Ranging Pair for 1 min Chart
2. Limit Buy or Limit Sell at the inner edge of Bollinger bands.
3. Where possible enter position in direction of Long Term trend, eg short at upper Bollinger band where Long Term is bearish, and long at lower Bollinger band where Long Term is bullish. Long Term could be 1 hour or 1 day chart.
4. Alternatively, if Long Term is also Ranging, eg, if the 1 hour chart is ranging, then enter position in the direction of the expected price swing. For example, if hourly chart the price is at upper edge of Bollinger band, then in the 1 min chart, enter a short at the upper Bollinger band as well.
5. Set TP as close as possible to opening price, eg, 1 pip
6. Let SL be Oanda's default which is usually around 10-20 pips
7. Enter 1000 units (instead of the usual 200 or 500) to make the 1 pip give better yield.
8. Ensure that the currency pair is highly volatile and liquid



I applied this strategy to CHF-JPY.

SL=15 pips TP=1



So far so good, I've won 4 times since yesterday, using this strategy. Let's see if it will continue to work.

I entered a second trade with the same currency with the same setup and harvested another 1 pip - 5th win using this setup.

Again, I entered a third setup and again 1 won 1 pip - the 6th win with this setup.

CHY-JPY seems to be very liquid and volatile - time now around 6 pm.

And again - entered another short and won 1 more pip

Total 4 pips within the hour. I' take a break now and continue tonight.