Ross Gimmee bar trading

Notera här för mig själv, kommer att testa detta i trading.

The Gimmee-Bar-Setup

You need the Bollinger Bands(20/2/close/simple) and a candlestickchart.
In the following chart you see the EUR/USD-pair in a 10 min.-timeframe.

1. If a red candle touches the lower BB, enter long if the next candle is green! Hard stop some ticks under the red candle!

2. If a green candle touches the upper BB, enter short if the next candle is red! Hard stop some ticks over the green candle!

It works best in tradingranges/consolidations(!), where you can get more than 80% of winnertrades! You can use this setup in every market, timeframe and underlying.

If you trade an aggressiv style, you can enter the market with the candle.
Normally i would say wait for the close of the candle, because the color
can still change!

You can use a timer, too. If the color of the candle is still "correct" 20 sec. before the next candle will be build, enter the market!

A couple more rules for optimizing this system:


1) It really only works well in a non-trending market. You can determine whether the market is trending by the slope of the Bollinger bands. The market is consolidating when the Bollinger bands have a very small slope or no slope. If the bands have a steep angle, do not trade.

2) The Gimmee Bar can be either the bar that touches the Bollinger band, or the next bar after it. For example, if the first bar to touch the upper Bollinger band is a "red" or down-closing bar, then that is the Gimmee Bar. If the first bar to touch upper band is up-closing, then the Gimmee bar would be the adjacent bar if it is down-closing. Opposite rule for lower band.

3) If the Gimmee Bar touches the moving average (i.e. the dotted line in between the bands) then refrain from taking the trade because such price movement frequently indicates that a retrace will occur.

The Gimmee-Bar is a pure discretionary setup.
Backtest it and it will lose, because it is not for trendtrading.