boss 2 revised addition single trade profit multiplier and...
TRANSCRIPT
Edition
Copyright © 2009 Lee Scholfield
B.O.S.S
BOSS 2 REVISED ADDITION
SINGLE TRADE PROFIT MULTIPLIER
AND INTRA DAY METHOD
2
Contents
1. Introduction
2. How to Set up the New Charts On IG
Index
3. Boss 2 Rules for entering a Trade
4. Trade examples
5. Trading Results since April
6. Results with Boss staking plan
7. Advanced trading techniques with
Boss 2 (Intra day)
8. Advanced Trading examples
9. Overview
10. The Full Original Boss
Trading Manual
3
Chapter 1 Introduction
Welcome to Boss 2 the new method I
have been working on to continue
making a tax free profit every morning
before you leave to go about your
everyday life.
As in the first addition of Boss it was
important for me to be able to let the
trade run, so I was not stuck watching
charts all day.
Having said that Looking over the past
results BOSS 2 is extremely profitable if
used for intra day trading so I have
added an advanced section on intra day
trading which could add 100s of pips a
week to your trading account risking
only 5% a day total.
4
It is well worth looking at if you have
the time to trade in the day the times I
use are 7am-3pm although I know some
people like to start at 6am this is left to
preference.
The big difference with Boss 2 is that
we will be entering the trade live and
not using order to open trades.
Anyone new to trading should read the
whole of the original Boss method
which is on chapter 10.
Even if you are not new to trading I
would recommend reading the original
Boss method first as you will be able to
set the basic chart up first which you
will then be able to transfer over to the
advance settings we will be using for
boss 2.
5
The main aim with Boss 2 is the same
as the original method to have a high
rate of consistent winning trades which
then can maximise profits with a good
staking plan.
With only having 1 trade a day we can
keep the winning rate higher than the
original settings and as I will explain in
a later chapter we can even use the 2
together.
Although I have been using the new
method on its own lately looking to
build profits steadily and avoiding any
losing runs.
I have set rules that state we will not
enter a trade until after 7am as in the
6
original, as I still think this is the best
time when the most volume starts
coming into the market.
The difference is we will be watching to
enter a trade between 5-25minutes, so
for single trade profit multiplier the
trade should be set to leave by around
7.25am (GMT) this was the most
important thing for me as I still wanted
a method people could use if they are
in a normal 9-5 job.
Boss 2 can also be used to inter day
trade though as the indicators are good
for scalping right through the day, ad if
going for more pips using the
techniques in the advance settings you
will catch every big move of the day.
7
I will go into this more in a later
chapter but all the results here will be
for a single morning trade as this is
what the method was intended for
originally, on the occasion where all
criteria was not met I have recorded NT
(no trade) and we would not of entered
a trade for that particular day, there are
not many days when a trade will not be
found. I may record the intra day trades
at a later date.
At first the method might look a little
more complex but be assured I have
made it as simple as possible once you
have the new chart set up and saved,
each time you open your IG account
your chart will be ready then we are
just looking for 4 indicators of the same
8
colour it really is that simple once your
set up.
I would like to take this opportunity in
thanking you for purchasing Boss 2 and
I am looking forward to us all making
consistent weekly profits.
I will be sending out a sheet of my own
results for both Boss and Boss 2 weekly,
so make sure you sign up to the
members only update letter.
If for any reason you have not received
by Sunday evening please email me at
9
Chapter 2
Setting Up the Charts for Boss 2
Ok now let’s get into setting up an
advanced chart in IG Index, Please refer
to setting up a chart in the original Boss
to get the basic 5 minute boss
candlestick chart first.
Then we are going to click on this icon
10
1. Click on the my account button
2. Click on settings
3. Then preferences
4. Scroll down to advanced charts
5. Then click activate advanced charts
Please note IG Index will charge £30 per
calendar month but you will get this back
as long as you trade at least twice a month
so as long as you are going to be trading
regularly this service will be free.
Now that we have turned advanced charts
on if you click this icon we can load up our
first chart.
11
Click on the small arrow to the right
of the GBP/USD currency pr (this will
be the pr we concentrate on again)
Then click the advanced charts icon,
you will see this pop up
Click the start button and it will start
loading a chart, this will take a little
longer than the quick charts used in the
original Boss.
12
You should get an advanced chart like
this come up, you then want to click
templates and your original Boss chart
should be here –
As you see I have changed the name to
Boss 2 here but your original boss chart
should be here as long as you have
created as stated in the original
method.
You should see your chart like this now
13
Click on the tool spanner icon in the
top left corner and you should have
your only indicator come up like the
picture below, this is where we add the
boss 2, indicators.
14
Click the add button and we can add the
first other indicator we will be using,
First we will choose the moving average
indicator, click on this and you will be
brought to this screen
15
The moving average will be set at 20 as
default we will change the settings as
above nbr periods 14, next 2 settings
leave as 0 change method to
exponential and apply to close then
change the colours to green for uptrend
16
and red for down trend, once you click
off the moving average you will get a
new moving average 14 on the left
simply delete the 20 moving average
once you have the required ma of 14.
Now we will select our Second
indicator;-
17
The Parabolic SAR when you first click
on this tool the settings will also be a
little different as standard we will
change the settings as the picture
below;-
18
As you can see from the red circle
above the settings need to be changed
too
1. Min Acceleration 0.01
2. Acceleration step 0.01
3. Max acceleration 0.084
Insure these settings are changed from
the default then we will select our last
indicator the Bollinger.
19
When we first select this feature, we
will actually receive another 4
indicators as per below.
Click on the one at the bottom of the
list colour zone boll up.
20
Then delete this as this will help to
keep the chart tidy and stop it looking
too confusing.
Once deleted our settings should look
like this;-
21
First we will change the standard
deviation to 1 not 2 as it will be on
default.
Then on the boll up and boll down we
will change the style to invisible.
22
Both the boll up and boll down should
now look like the above.
Then the boll middle which will be the
indicator we want we will have set up
like this;-
23
Insure the uptrend is changed to green
and the downtrend to red, then make
sure the standard deviation is set at 1.
24
When you have changed all the
settings as above you should have a
nice tidy chart which looks like this;-
When you re-click on the price tool
setting in the top left now if all is done
correctly it should look like this;-
25
Now if you click on the advanced chart
tab which also opened when you first
started the IG advanced charts;-
26
You can now click on the templates
then save or delete and save this chart
as the boss 2 standard template as
above, so it will be ready for you to use
every morning.
You can then use the magnify in the
bottom right to get your chart looking
clear so you can clearly see the 3
signals we will be using.
27
Chapter 3
Boss 2 The Rules
Ok so now we have the chart template
all ready to use we will now go into the
rules for entering a chart with our 3
indicators.
As with the original method I like to
keep things as simple as possible, with
clear rules of when to enter a trade.
This is why I have chosen the
indicators we will be using, and got rid
of unnecessary lines or colours on our
boss 2 chart.
I have tried to make the chart we are
using as simple to follow as possible.
28
Apologies for the set up being a little
more complex than the original
method but once you are set up the
actual method is very easy to use.
As with the original Boss method we
will be concentrating on the GBP/USD.
Ok we have changed all are indicators
so that when they are changed to the
upside they will be green and when on
the downside they will be red.
We will not be looking to enter a trade
until after 7am, on the IG index charts
this will be when the 6.55 bar closes.
29
1. The second rule is that we will wait
until all our indicators have
changed to the same colour.
2. When all our indicators are the
same colour we will wait until the
next bar breaks the top/bottom of
the previous WICK not actual body
of the candle, If all are colours are
red indicating a downtrend we look
for the bottom of the previous wick,
30
if all are green we look for the top of
the previous wick.
Pictured below is the candle wick at
the top of a buy bar and bottom of a
sell bar.
31
3. When all four previous indicators
are green/red (candle
colour,14ema,para and boll) and the
previous wick is broken by 1-2 pips,
we will enter a trade in that
direction.
Note. It is better to watch the chart
to see this happening than try and
watch the price on your ticket.
4. If the wick doesn’t get properly
broken do not enter the trade, you
can wait 2-3 bars and if all 4
indicators are the same colour and
32
your previous high/low bar is
broken you can still enter the trade.
Any longer than 10-15mins and wait
for the whole set up again.
(I will show good examples of these
in the next chapter)
5. Use a maximum of 40pips stop
and aim to put your stop in a
previous resistance area, minimum
stop 25pips, most of the time I will
be using a 30pip stop loss as per the
original BOSS method.
If there is an area where the market
has not traded below/above around 20
pips in the opposite direction I will
place my stop at 25pips.
If there is a strong area 30-37 I will
sometimes make my stop 40pips.
33
If there is no obvious support or
resistance or the area is further than
40pips I will set my stop at 30pips.
Do not worry if you don’t fully
understand this set your stop at 30pips
all the time (most of the time my stop
is 30)
6. Have a profit target in mind and
stick to it! I recommend 20pips as
this will give a high strike rate and
give good consistency, I know some
of my original members like to go
for more, if you do set your target
higher DO NOT USE ANY
AGGRESSIVE STAKING PLANS
WITH THESE, the strike rate won’t
be as high and you will end up
losing. 20pips can be used with a
34
plan for good gains so I would stick
with this, in a latter chapter I will
talk about more advanced tactics of
watching and letting trades run but
this will not be the morning
method of one trade and this
requires being at your computer
live trading.
7. If you are sticking to the morning
method of placing your trade once
you have entered, you can leave the
trade and get on with your day.
Depending on when you have to
leave for work etc set this as your
daily trade times I have based the
method on starting 7am sharp and
finishing at 8am if there are no
trades in this period it is recorded
as a no trade day.
35
There will not be many and most
days you will have entered before
7.30am.
8. That is it let the indicators do the
work for you and enter a trade
when all criteria is met and we
should have a nice flow of
consistent winners.
Over the next chapter I will go through
some examples trying to cover
everything, I will not hand pick nice
easy trades I am trying to show here
some more challenging trades showing
how the system works in more
demanding conditions.
A lot of mornings you will get into a
straight forward trade within 5-
10minutes of trading other times will
36
take a little longer but please be
patient.
37
Chapter 4 Live Trade
Examples
Here is a really good example taken
from the 15th of July
38
1. The 7am Bar starts here
2. First potential buy trade only 3
indicators were green (Para still
red).
3. Again only 3 indicators in the
opposite direction the BOL was
green
4. All indicators the same but failed
to break by at least 1 pip within 3
bars.
5. First good trade of the day all
indicators green and the bar which
started at 8am passed through so
qualified buy trade.
6. Stop here can be placed at 25
pips as the previous support was at
15253 and our entry point here was
15277 a difference of 24pips.
39
Of course the above trade is not a
typical one and it was entered late at
8am, you may not want to trade for
more than half an hour before going to
work but this was a good example of
waiting for all the right indicators to
enter a trade.
Most days we will have the indicators a
lot quicker!
Next I will show you an early example
here we have all indicators are green
when the 6.55am candle finishes, but
then we have 2 red candles, the next
green candle breaks the wick of the
early indicator so this WOULD be a
trade as we are still within 3 bars from
the first qualifying bar.
40
Remember we can open a trade from
7am onwards so this bar will count if it
had broken the wick on the 7am candle
this would be fine to enter also
This particular trade would of just hit
our 20 pip target, so our trading would
be done with the single trade method.
41
Now I will show you the last 2 trades
when I wrote this manual they were
today’s and yesterdays as one was a
straight loser and today’s was a little
tricky as the entry took a little longer
both today and yesterday, yesterday
particular was very choppy so these are
good examples.
Here is Wed 28th July 2010
42
Above the trade qualified at 7.05am
but unfortunately only got to around
15pips before turning so this would of
been a losing trade (note if trading had
started at 6am would of been an easy
win, in the long run I prefer 7am
though as this is where more volume
comes in)
Below is today’s trade Thurs 29th July
43
There was around 30pips available at
the time of writing (4pm) and again
today has ended up quite choppy.
*Newsflash!
While finishing of the manual there
was a really good example of the 1-2pip
rule saving a losing trade first thing
this morning so I have added late,
See Diagram on next page:-
1. At 7.15am all indicators are red with
a wick low of15612.3
2. Next bar gets lower but at 15611.9
just .4 difference
3. Next bar lower but only at 15611.1
Just .8 difference and closes green
4. Still using low of candle 2
(15611.9) candle hits low of 15610.9
still does not break previous lowest
44
candle by 1-2 pips, having patience
here would of saved a losing trade.
5. Next candle with all indicators
green, the candle comfortably
breaks 1-2 pips
6. makes around 27pips profit.
See how waiting here saved a losing
trade as all candles went slightly lower
45
I waited for price to break previous
green candle by at least pip which
never happened, look out for 3-4
candles with less than a pip difference
it could be signalling a change.
If in doubt just get in a little later, if
you get in 4 pips higher/lower than
previous bar, you could change your
profit target (limit) to 18 instead of 20.
It’s better to have made 18pips instead
of 20 than losing a full 30!
Well hopefully these examples should
help show you the method in action as
long as we wait for all the right
indicators we will have a high strike of
scalps.
46
Trading Results since
April
Below Is the full results from Boss 2
since the first full week in April
Using the single trade profit
multiplier method
Date Type Para
ema
bol stop mlb4t
max pips
20 scalp
30 scalp
50 scalp
05/04/2010 sell y y y 20 23 y n n
06/04/2010 sell y y y 30 22 95 y y y
07/04/2010 buy y y y 25 10 n n n
08/04/2010 sell y y y 5 81 y y y
09/04/2010 buy y y y 4 108 y y y
50 30 90
12/04/2000 sell y y y 12 52 y y y
13/04/2010 buy y y y 27 74 y y y
14/04/2010 sell y y y 0 42 y y n
15/04/2010 sell y y y 12 126 y y y
16/04/2010 sell y y y 0 46 y y n
100 150 120
19/04/2010 buy y y y 21 57 y y y
20/04/2010 sell y y y 34 10 n n n
21/04/2010 buy y y y 42 10 n n n
47
22/04/2010 sell y y y 27 57 y y y
23/04/2010 sell y y y 14 34 y y n
0 30 10
26/04/2010 sell y y y 20 21 y n n
27/04/2010 sell y y y 20 0 120 y y y
28/04/2010 sell y y y 40 31 105 y y y
29/04/2010 sell y y y 30 na 12 n n n
30/04/2010 buy y y y 36 40 y y n
50 30 10
03/05/2010 sell y y y 23 36 y y n
04/05/2010 sell y y y 40 14 67 y y y
05/05/2010 buy y y y 24 12 28 y n n
06/05/2010 sell y y y 20 84 y y y
07/05/2010 nt nt nt nt nt nt nt nt nt nt
80 60 40
10/05/2010 buy y y y 30 5 n n n
11/05/2010 sell y y y 32 0 46 y y n
12/05/2010 buy y y y 51 36 133 y y y
13/05/2010 buy y y y 22 10 45 y n n
14/05/2010 nt nt nt nt nt nt nt nt nt nt
30 0 -40
17/05/2010 buy y y y 30 0 162 y y y
18/05/2010 buy y y y 20 16 54 y y y
19/05/2010 sell y y y 24 8 28 y n n
20/05/2010 nt nt nt nt nt nt nt nt nt nt
21/05/2010 sell y y y 41 24 50 y y y
80 60 120
24/05/201 buy y y y 35 1 38 y y n
48
0
25/05/2010 sell y y y 30 20 69 y y y
26/05/2010 buy y y y 26 0 27 y n n
27/05/2010 buy y y y 40 8 109 y y y
28/05/2010 buy y y y 40 1 32 y y n
100 90 10
31/05/2010 buy y y y 20 5 57 y y y
01/06/2010 nt nt nt nt nt nt nt nt nt nt
02/06/2010 sell y y y 25 0 30 y y n
03/06/2010 buy y y y 28 18 18 n n n
04/06/2010 buy y y y 21 1 53 y y y
30 60 40
07/06/2010 nt nt nt nt nt nt nt nt nt nt
08/06/2010 buy y y y 40 40 2 n n n
09/06/2010 buy y y y 33 10 180 y y y
10/06/2010 sell y y y 30 30+ 10 n n n
11/06/2010 buy y y y 22 15 31 y y n
-20 0 -40
14/06/2010 buy y y y 32 0 177 y y y
15/06/2010 sell y y y 20 0 37 y y n
16/06/2010 sell y y y 20 13 63 y y y
17/06/2010 buy y y y 27 27 8 n n n
18/06/2010 buy y y y 28 22 47 y y n
50 90 10
21/06/2010 buy y y y 30 30+ 19 n n n
22/06/2010 sell y y y 30 30 13 n n n
23/06/2010 sell y y y 20 20+ 9 n n n
24/06/201 sell y y y 30 6 38 y y n
49
0
25/06/2010 buy y y y 25 25 6 n n n
-15 -75 -105
28/06/2010 sell y y y 28 0 25 y n n
29/06/2010 sell y y y 30 12 72 y y y
30/06/2010 sell y y y 38 33 56 y y y
01/07/2010 sell y y y 30 27 53 y y y
02/07/2010 nt nt nt nt nt nt nt nt nt nt
80 60 120
05/07/2010 sell y y y 22 22 87 y y y
06/07/2010 buy y y y 40 5 50 y y y
07/07/2010 sell y y y 25 3 50 y y y
08/07/2010 buy y y y 20 0 46 y y n
09/07/2010 buy y y y 20 7 30 y y n
100 150 90
12/07/2010 sell y y y 24 5 59 y y y
13/07/2010 sell y y y 40 0 42 y y n
14/07/2010 sell y y y 40 na 20 y n n
15/07/2010 buy y y y 30 26 115 y y y
16/07/2010 sell y y y 32 na 13 n n n
50 30 10
19/07/2010 sell y y y 30 5 27 y n n
20/07/2010 buy y y y 30 0 25 y n n
21/07/2010 buy y y y 28 0 31 y y n
22/07/2010 sell y y y 25 5 27 y n n
23/07/2010 buy y y y 30 na 25 y n n
100 -65 -145
26/07/2010 buy y y y 30 0 43 y y n
50
27/07/2010 sell y y y 30 8 60 y y y
28/07/2010 buy y y y 30 na 15 n n n
29/07/2010 buy y y y 30 0 33 y y n
As you can see even with small gains
the new method is making healthy
profits the monthly profits at 20pips
scalps are
April 200
May 310
June 85
July 330
I’m sure you will agree these figure are
pretty good for 1 trade a day.
As with the original BOSS in the next
chapter I will show you the results with
staking plan.
51
Results with Boss
Staking Plan I will now list the same results with
the staking plan we used in the
original BOSS method.
Please refer to this section of the
original method for details.
Date Type Para ema bol stop mlb4t max pips
20 scalp 5% £3k 10% 3k
05/04/2010 sell y y y 20 23 y 3100 3200
06/04/2010 sell y y y 30 22 95 y 3200 3400
07/04/2010 buy y y y 25 10 n 3050 3100
08/04/2010 sell y y y 5 81 y 3150 3300
09/04/2010 buy y y y 4 108 y 3250 3500
Week Profit 50 250 500
12/04/2000 sell y y y 12 52 y 3350 3700
13/04/2010 buy y y y 27 74 y 3450 3900
14/04/2010 sell y y y 0 42 y 3550 4100
15/04/2010 sell y y y 12 126 y 3650 4300
16/04/2010 sell y y y 0 46 y 3750 4500
Week Profit 100 500 1000
19/04/2010 buy y y y 21 57 y 3850 4800
20/04/2010 sell y y y 34 10 n 3700 4350
21/04/2010 buy y y y 42 10 n 3550 3900
22/04/2010 sell y y y 27 57 y 3650 4200
52
23/04/2010 sell y y y 14 34 y 3750 4500
Week Profit 0 0 0
26/04/2010 sell y y y 20 21 y 3850 4800
27/04/2010 sell y y y 20 0 120 y 3950 5100
28/04/2010 sell y y y 40 31 105 y 4050 5400
29/04/2010 sell y y y 30 na 12 n 3900 4950
30/04/2010 buy y y y 36 40 y 4000 5250
Week Profit 50 250 750
03/05/2010 sell y y y 23 36 y 4100 5550
04/05/2010 sell y y y 40 14 67 y 4200 5850
05/05/2010 buy y y y 24 12 28 y 4300 6150
06/05/2010 sell y y y 20 84 y 4400 6450
07/05/2010 nt nt nt nt nt nt nt nt
Week Profit 80 400 1200
10/05/2010 buy y y y 30 5 n 4250 5850
11/05/2010 sell y y y 32 0 46 y 4350 6250
12/05/2010 buy y y y 51 36 133 y 4450 6650
13/05/2010 buy y y y 22 10 45 y 4550 7500
14/05/2010 nt nt nt nt nt nt nt nt
Week Profit 30 150 1050
17/05/2010 buy y y y 30 0 162 y 4650 7900
18/05/2010 buy y y y 20 16 54 y 4750 8300
19/05/2010 sell y y y 24 8 28 y 4850 8700
20/05/2010 nt nt nt nt nt nt nt nt
21/05/2010 sell y y y 41 24 50 y 4950 9100
Week Profit 80 400 1600
24/05/2010 buy y y y 35 1 38 y 5050 9700
25/05/2010 sell y y y 30 20 69 y 5150 10300
26/05/2010 buy y y y 26 0 27 y 5250 10900
27/05/2010 buy y y y 40 8 109 y 5350 11500
28/05/2010 buy y y y 40 1 32 y 5450 12100
Week Profit 100 500 3000
31/05/2010 buy y y y 20 5 57 y 5500 12900
01/06/2010 nt nt nt nt nt nt nt nt
02/06/2010 sell y y y 25 0 30 y 5650 13700
03/06/2010 buy y y y 28 18 18 n 5500 12500
04/06/2010 buy y y y 21 1 53 y 5600 13100
Week Profit 30 150 1000
07/06/2010 nt nt nt nt nt nt nt nt
53
08/06/2010 buy y y y 40 40 2 n 5450 11900
09/06/2010 buy y y y 33 10 180 y 5550 12700
10/06/2010 sell y y y 30 30+ 10 n 5400 11500
11/06/2010 buy y y y 22 15 31 y 5500 12300
Week Profit -20 -100 -800
14/06/2010 buy y y y 32 0 177 y 5600 13100
15/06/2010 sell y y y 20 0 37 y 5700 13900
16/06/2010 sell y y y 20 13 63 y 5800 14700
17/06/2010 buy y y y 27 27 8 n 5650 13500
18/06/2010 buy y y y 28 22 47 y 5750 14300
Week Profit 50 250 2000
21/06/2010 buy y y y 30 0 21 y 5850 15200
22/06/2010 sell y y y 30 30 13 n 5700 13850
23/06/2010 sell y y y 20 20+ 9 n 5500 12500
24/06/2010 nt y y y 30 6 38 y 5650 13400
25/06/2010 buy y y y 25 25 6 n 5500 12050
Week Profit -15 -250 -2250
28/06/2010 sell y y y 28 0 25 y 5600 13050
29/06/2010 sell y y y 30 12 72 y 5700 14150
30/06/2010 sell y y y 38 33 56 y 5800 14950
01/07/2010 sell y y y 30 27 53 y 5900 15750
02/07/2010 nt nt nt nt nt nt nt nt
Week Profit 80 400 3700
05/07/2010 sell y y y 25 22 87 y 6000 16750
06/07/2010 buy y y y 40 5 50 y 6100 17750
07/07/2010 sell y y y 25 3 50 y 6200 18750
08/07/2010 buy y y y 20 0 46 y 6300 19750
09/07/2010 buy y y y 20 7 30 y 6400 20750
Week Profit 100 500 5000
12/07/2010 sell y y y 24 5 59 y 6600 22050
13/07/2010 sell y y y 40 0 42 y 6800 23350
14/07/2010 sell y y y 40 na 20 y 7000 24650
15/07/2010 buy y y y 30 26 115 y 7200 25950
16/07/2010 sell y y y 32 na 13 n 6900 24000
Week Profit 50 500 3250
19/07/2010 sell y y y 30 5 27 y 7100 25600
20/07/2010 buy y y y 30 0 25 y 7300 27200
21/07/2010 buy y y y 28 0 31 y 7500 28800
22/07/2010 sell y y y 25 5 27 y 7700 30400
23/07/2010 buy y y y 30 na 25 y 7900 32000
54
Week Profit 100 1000 8000
26/07/2010 buy y y y 30 0 43 y 8100 34000
27/07/2010 sell y y y 30 8 60 y 8300 36000
28/07/2010 buy y y y 30 na 15 n 8000 33000
29/07/2010 buy y y y 30 0 33 y 8200 35000
30/07/2010 buy y y y 30 0 27 y 8400 37000
50 500 5000
As stated in the original method, the
aggressive plan should only be used
if sticking to 1 trade a day and you
should be very careful to stick to the
rules and reduce stakes when
needed.
The 5% a day is best to trade, profits
can start increasing fast once up and
running if using 1 trade a day I
recommend the 5% trading plan.
It will be slow to start with but if
you have a long term approach nice
profits can be obtained.
55
Advanced trading
techniques with Boss 2
(Intra day) The great thing about BOSS 2 is that
it can be used to great effect intra
day trading.
You can take more than 1 trade a day
as you will keep getting signals and
the best thing is if there are any big
moves in the day you will guarantee
you will be involved in it.
I recommend starting at either 6am
or 7am and finishing trading at 3pm
for intra day trading
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There are 2 ways you can trade Boss
2 The first is a favourite as you will
always catch the big move of the day
(if there is one).
First things first you must work out
what is the most you are willing to
lose if your trading day is
unsuccessful.
Let’s say you start with a bank of
£3000 for intra day trading the most
I would want to lose would be 5%.
So 5% of £3000 is £150 next you want
to decide the max number of losing
trades you would take in a row, Lets
say we would take 3 losing trades
then stop for the day (it would mean
a choppy day anyway)
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Keeping our SL at 30pips per trade
max.
3x 30=90pips so £150 divided by 90
gives 1.666666 So we will call this
£1.66 per pip.
You can play as safe as risking 1%
per trade if you have larger
accounts.
Then you have the option of having
up to 5 trades a day but most days
you will not require this many to hit
a reasonable profit target.
Next we want to keep a profit target
in mind let’s say 50 pips.
We know before we start trading we
cannot lose more than 5% of our
bank and our target is 50pips
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minimum and we can make more
than this if the trade holds.
We then enter a trade with the boss
2 criteria and we exit when we get a
full reverse signal (I will show
examples in the next chapter) This
way we have 2 choices we can take
the 50pip target as soon as we get it,
if it happens on the first trade or we
may get out of the first trade with a
20pip profit if this is when the signal
changes, then immediately enter the
fully qualified trade in the other
direction and hold most days sooner
or later you will catch the big move
of the day then you can come out at
your profit target or wait for a full
reversal.
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This means you could net 80-
100pips before getting the signal to
come out of the trade.
And you still have the option to re-
enter as if you have bagged say
80pips you can then risk 30pips for
more if it loses you still have your
50pip target if it wins you have had a
100pip plus day!
I will show some examples in the
next chapter which will show this.
The above method can be extremely
profitable but it is more advanced
for people who have been trading a
little longer as decisions will have to
be made quicker by all means watch
the charts and perhaps trade with a
demo account while you get the
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hang of these more advanced
trading techniques.
Secondly you can trade for multiple
scalping opportunities.
IE set your target at 20pips and
enter as with the first trade method
but then wait for your next signal
and enter another trade for 20 pips.
Have a profit target in mind and
keep the stop ratio the same for
instance if you have a profit target of
60 pips you will need to allow 90
pips as your stop loss 3x30 for your
stops losses and 3 x 20 for your
profit target.
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If your target was 40 your pips you
will be risking would be 60pips
(2x30pips)
Now to work out how much you
want to risk if you have a bank of
£3,000 you don’t want to risk more
than 5% total
5% off £3,000 =£150
If you aim for 40pips per day:-
(SL)=60 so 150 divided by 60=£2.50
You would risk £2.50 per pip
knowing your daily profit would be
£100 and the max you can lose
would be £150.
If you aim for 60pips a day
(SL)=90 so 150 divided by 90=£1.66
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You would risk £1.66 per trade with
a daily profit of £99.60
And the max you could lose would
still be£149.40 (just less than 5%)
63
Advanced Trading
examples I will start the trades at 7 am it will
show how getting out then back into
a trade can be very profitable
23 July 10
Above shows the first trade entry
point at 15295
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If following the full intra day
method correctly you would off got
out at 15425 with a profit of around
130pips the next trade would of
easily been able to net another 50
pips giving you a total of around 180
pips at 3pm.
65
This was a particularly good day but
it shows you how boss 2 can keep
you in the markets for the big gains.
Here is a choppier day which still
could have netted a 50pip target or
40 pips following every trade till a
close point, if using the scalp
method here 60pips were available.
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1. First trade of the day buy ep
15460
2. Max available 40pips
3. Sell trade qualified ep15467
+7pips profit first trade
4. Max available 20pips
5. Buy qualified ep 15467 0 pips
profit
6. All indicators but bar not
broken
7. Max available 52pips
8. Sell ep 155500 33pips profit
from buy trade.
As you can see the intra day method
can be extremely profitable making
up to 1000pips some months.
Using the trade indicator to get you
in and out of trades you can be sure
67
to get into all big moves of the day
sometimes the up and the down!
The above examples could both of
comfortably used 30pip stop losses
with a 60 pip max loss for the day at
5% =2.50 per pip letting the trades
run on the first example
180x£2.50=£450 15% profit
40x£2.50=£100 3.3% profit
You can see how relatively small risk
of 5% max for the day can bring
modest to excellent profits.
I advise you to look back over the
charts to get a feel for the amount of
pips you can gain daily intra day
trading.
68
Overview
Well I hope you are very impressed
with the new BOSS 2 method which
I’m sure you will agree is head and
shoulders above the original
method.
If you have commitments in the day
you can use the single trade profit
multiplier for steady gains.
Or you could use the intra day
method for massive monthly gains,
Either way I’d recommend you keep
an eye on how well the intra day
method will do.
I hope you will be very happy with
this new method and it should make
us all plenty of pips in the future.
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The updates will be available by
Sunday every week.
As long as you are an active member
you will receive these weekly
updates and any further
improvements to Boss in the future.
You can contact me at
Thanks for purchasing,
Lee.
70
Disclaimer
Financial Spread Bets are a leveraged product and therefore may not be
suitable for all investors. Financial Spread Bets carry a high degree of risk
to your capital and it is possible to lose more than your initial investment
or credit allocation as well as any variation margin that you may be
required to deposit from time to time. You should only speculate with
money that you can afford to lose. Please ensure that you fully understand
the risks involved and seek independent advice if necessary and prior to
entering into such transactions as neither myself or LPS Publishing will be
held responsible for any financial losses that you might encounter
through any carelessness.
The strategies, general information and opinions contained in this manual
are that of the author and should not in any way be viewed as investment
advice. They represent the author’s personal trading experiences and are
subject to change without prior notice. Past results are no guarantee as to
future performance.
The information contained in this manual does not constitute any
recommendation to order, trade, buy or sell the financial markets in any
way. Neither the author nor publisher accepts any responsibility for any
investment decisions made by any reader or user of this manual.
71
B.O.S.S
(Break Out Scalping Strategy)
Trading Method
72
Contents
Sections
1. Introduction
2. Why Trade Forex?
3. Very Important Rules And Advice
4. Which Spread Betting Company?
5. How To Open An Account With IG Index
6. Getting Started
7. The BOSS Trading Method Explained
8. Why This Method Works
9. Real Results from 2009
10. How to Stake For Amazing Results
11. Results with staking Plan
12. New Chapter Advance settings and 2010 results
13. How To Use Your 2 results trackers
14. Conclusion
15. Contact Details And Help
16. Disclaimer
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Introduction
Congratulations on purchasing my Boss trading
method and taking your first step towards financial
freedom.
What you are about to learn is a method I have
found to be profitable trading the Forex markets
first thing in the morning Monday-Friday which
only takes 10 minutes to set up in the morning so
you are free to get on with the rest of your day.
Then most days when you get home you’ll see a
nice extra income has been made in your account.
This method has been extremely consistent for me
and has been a very simple extra income which you
too will now have the chance to learn and prosper
from.
After analysing my past results I have utilised the
consistency the Boss trading method generates and
put together a simple trading plan/staking plan
which generates massive growth in a short time
which truly can help to make you financially free
within a year.
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£32,400 Tax Free In 2009!
Not bad for just 10 minutes in front of your
computer on weekday mornings!
This is the actual figure for the whole of 2009
results staking just £10 per pip (don’t worry about
pips and staking amounts just yet) that’s more than
a lot of people earn in a year in their own full time
jobs so imagine earning this amount as an extra
supplement for 10 minutes work a day!
But it could be better................
How About Earning Over 1 Million!
With the same starting stake of just £10 but
implementing my trading plan the same starting
account would grown to £1,598,100! And that was
after capping at £1000 per pip before the end of
the year! Ok I know in reality we would have been
taking money out by this crazy stage but I am just
trying to show the power of using a staking plan to
get to where you want to be quicker.
75
Getting up to just £100 per pip and stopping there
would see you averaging £20,000 a month, I think
that is enough for most people to give up the day
job!
Also the BOSS trading method still only takes 10
minutes a day to set up, so that leaves you all day
to spend your new found wealth!
And best of all you really don’t have to be clever to
use this method, I have purposely designed it so
once you know the set up its very easy, every single
morning (I have successfully taught my little
brother how to use BOSS in no time at all)
The Chart set up is simple and the morning routine
will be the same every weekday so you will be up
and running in no time.
In this manual I will show you a little on why we
should trade the forex, what a spread betting
company is and how you set up an account with the
preferred company I use, how to set up the free
charts and then finally to explain the method in
detail including my trading strategy.
Also I will show you how to use the 2 types of
tracking tools to track your own results. I’ll also give
76
you my contact info should you need any further
help.
This manual is written as if it were being read by
someone who has never tried trading the forex
before. But I would recommend even if you have
your own trading account and have knowledge
already about trading the forex markets that you
take the time to read this manual through in its
entirety (apart from opening an account with IG
Index section, if you already have one) as this will
help to understand this method in its fullest.
I have tried to make this manual as simple to
understand and as easy to read so anyone can get
started making money as soon as possible.
Some things in life are a lot easier if you can gain
the help of someone who has already made their
mistakes.
So this is where I’d like to give you a genuine
helping hand.
I would love to have my next email from you telling
me how much money you have made.
So without further ado let’s get started on how to
make some life changing profits on the forex
markets!
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Why Trade Forex?
The Forex Exchange was established in 1971. It then
grew steadily through the rest of the 70’s, but
during the 80’s the forex went from trading $70
billion per day to over $1.5 Trillion!
Now today the Forex exchange turns over in excess
of $3 trillion a day, that’s a lot of money being
traded everyday! When I first found these facts out
it made a lot of sense to me “if I want extra money
why not dip into this pool every day, there’s more
than enough!”
Thanks to spread betting companies it is now within
everyone’s reach to be able to trade the forex with
relatively low stakes or very large stakes.
Here are some other very good reasons to trade
forex-
1. It is free from Tax at present so if you make
£300 in a day the £300 is all yours to keep!
78
2. All you need is an internet connection, pc or
laptop and your ready to start
3. No special skills required, if you’re using a
proven method such as BOSS it is very easy for
anyone to learn
4. You have the power to make as much money
as you want as long as you progress with
money you have already made (as I will show
you)
5. No commuting, get up make a cup of tea and
head for the PC that’s it!
6. No Boss or annoying colleagues, you are your
own boss
7. Trades can now be set up and left to open
automatically so you will have a lot more time
and freedom
8. Trading is repeatable so with the right trading
strategy profits can continually be made
So there we go I think that’s more than enough
reasons to see that we are on the right track to
start making money!
79
Very Important Rules And Advice
Before I go onto opening spread betting accounts
and using the BOSS system, there are some very
important rules and advice I’d like to give to all
traders whether you are completely new to trading
or have traded in the past this advice should be
taken very seriously and not ignored!
Please learn from my mistakes as I have made most
of these and it has cost me money and slowed my
progress (substantially) in the past.
1. Please use a completely separate bank to trade
the BOSS method. When I first started using
this method I was already trading 2 or 3 other
methods and because off the higher strike rate
with BOSS, using the other methods with the
same bank repeatedly set me back until I finally
learnt! The whole point in the staking method
and consistency of BOSS is what gives rapid
gains, by all means trade other successful
80
methods but have a separate account or if you
only have and want one account use the record
sheets to keep BOSS trades separate and that
is trading with a completely separate starting
bank i.e. if you’re going to put £3k into BOSS
that £3k is used for BOSS trades and only BOSS
trades! Believe me when you lose extra
money in your account then you see you could
have grown it by over 30% in a week you are
extremely annoyed so don’t do it!
2. Never ever chase loses, this is an obvious one
for any trading method but is very important
none the less, remember losing weeks are rare
with BOSS but we will inevitably get one now
and again just let the method do its work and
they will be recovered in no time, DO NOT raise
your stake after a losing day, you could turn a
small losing week to a devastatingly big losing
week and set yourself back a month or more
rather than that little old week!
3. Do not trade more than the 2 advised trades
you will set up every morning, when you have
been using BOSS for a while and understand it
you will see when you get a false break out and
81
your trade loses, quite often the next time it
breaks this point it will be a winning trade.
The only problem with this is if you get a
couple of “choppy” mornings i.e. the bars are
very up and down (don’t worry if you don’t
understand this yet) you can hit 4 losing trades
in a day rather than the 2 you may get and this
just isn’t worth the risk hence I disregarded the
idea myself.
4. Do not be tempted to jump into a trade before
the advised time, sometimes when you’re
setting up your chart and opening your trade
tickets the market will start moving to a
higher/ lower point this can make you get in
the trade early for a couple extra pips only to
find at 7am it would not have been a qualifier
and you could get an extra loser which you
should not of entered.
5. Do not tamper with BOSS trades once the
order to open has been triggered, if you do not
work some weekdays or all weekdays and you
watch the live charts do not be tempted to
change the profit target for the trade, quite
often BOSS trades go on to make 50 or even a
82
100pips but with the method even if your an
advanced trader I recommend you stick to the
scalp target, it all helps with the consistency of
the method and after all small consistent gains
can rapidly turn into larger gains!
6. Stick to all the above! Seriously if you have a
little patience and can set the BOSS trades up
in the morning then leave them alone and
forget about them until the evening you can
make money on auto pilot and you won’t have
to beat yourself up for making the above
mistakes as I did!
83
Which Spread Betting Company?
A spread betting company is what you will need to
easily get your daily trades on there are now quite a
few spread betting companies on the market But I
would recommend you use IGindex.co.uk for BOSS
as it has all the features we require and they are
the largest and most established spread betting
company at present.
I don’t gain anything by recommending them I just
find them very easy to use, all the BOSS trades can
be set up quickly and the charts are quick to
navigate in the mornings.
Also if you are new to forex they offer a program
called trade sense that helps you learn more about
the markets and also lets you start from as little as
10p per pip rather than the normal 50p minimum
which can be very helpful for someone trying the
markets for the first time, you can use real money
and still risk less than £5 per trade. I believe trading
with real money is more beneficial than trading
with one of the free demo accounts you so often
see.
84
Opening An Account With IGIndex
It can seem daunting opening a spread betting
account but really it’s not hard at all.
Here I will give you a brief overview of how to open
an account with IG Index just a quick step by step
process if you are new to spread betting.
1. Log into the website www.Igindex.co.uk
2. Click the red apply online button on the right
hand side
3. Click the red start application on the right
hand side
4. Enter your personal details as requested
5. Enter your address as requested
6. Choose the account type Personally I have a
plus account, you can choose a limited risk
account if you are of a more cautious nature,
which is fine, but you will have to allow for this
when you place your trade, which will give you
slightly less profit. I will leave this up to
yourself, what I will say is over the past year I
have only had 1 trade which went further into
loss than my stop loss when trading BOSS.
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7. If you are a complete newbie to trading I
recommend you also click the button under the
account type to take part in the free trade
sense course, which will help you understand
trading more and allow you to start with very
small pip sizes.
8. Next you will be asked to submit your relevant
trading experience, investment knowledge,
and your financial details and employment
status. Don’t worry about this if you have
never traded just be honest, also you may get a
warning that a plus account may not be for
yourself based up on your information this is
just for legal reasons if you are on a lower
annual income.
9. You then have a declaration to electronically
sign
10. Hit the finish button and you will get the
message your account is being created
As I said this is just a quick over look at opening an
IG account if you have any problems or questions
you can contact me or if it is solely an IG problem
their own help desk is 0800 195 3100 which is open
8am-9pm.
86
Getting Started
Ok so now we have our IG Index account set up now it
is time to learn the morning ritual this is what you will
be doing every morning before 7am, I would
recommend when you start aim to be at your
pc/laptop by 6.45am Just as you are getting used to the
set up but after a week or 2, 6.50am is fine.
Firstly log into your IGIndex account, when you are
logged in you will look for the GBP/USD it is always on
the first page on popular markets:-
87
But I recommend you do the following so you don’t
accidentally open the wrong pr chart.
Left click on the open symbol to the left of the period
column and click add to watch list:-
Then when you click my watch list here:-
You will have the required pr and there can be no mix
ups.
88
Ok so we have the GBP/USD the pr we are going to be
using BOSS with, now you need to click this icon
This will give us the quick chart. There is an option for
advanced charts but we will not need these, for BOSS
trades, quick charts are fine for what we will be doing.
Firstly we need to make the chart set up easy to read
to use the BOSS method we need to click on the
settings tab here:-
89
Then we will uncheck any boxes normally just the ma is
already checked then change the open option to
candlestick:-
90
You will then look more like this picture, next we need
to change the time here to 5mins not 1mins
Also zoom in with the magnify icon once or twice to
make the chart easier to see.
Now we don’t want to do this every day if you click this
icon you can save the chart as BOSS and you will be
able to open every morning here if you push the same
icon then select BOSS. See Over.
91
If you notice at the bottom of the chart this is the live
time and going up on the right is the live price, if you
look back to the left this is where the price has
previously traded the green bars are where there has
been buying and the red bars are where there has
been selling.
92
We are looking for the midnight price on the morning
we will be opening our trade so we should adjust the
chart like this to have the chart ready to trade BOSS.
Now we have the chart ready we will open our first
trade ticket.
93
You click this icon here;
This is the order to open ticket so we will not need to
be at our pc for a trade to get opened.
This is how we first set up BOSS in the morning so now
let’s talk about how to trade the BOSS method.
94
The BOSS Trading Method Explained
Ok so now let’s get down to the nitty gritty of how we
will actually start making money with BOSS!
Right once we have our BOSS chart set up, we are
going to click on this tool, which will give us a
horizontal line we can move up and down on our chart.
As shown:-
Now we look where the price has traded from
midnight to the current time (which should be just
95
before 7am) we will look at the highest price the bars
have gone up too, by bringing the line up to the highest
bar level we now make a note where the highest point
the pound/dollar has traded since midnight to present.
note: - if you put your curser over the bar it will tell you
the highest point the bar has traded too exactly, this
can be easier than trying to read. Be sure you are only
marking up from midnight; this will be the dark vertical
line with the date at the bottom.
Putting your curser over the highest bar looking for the
price:-
As you can see the highest point I had on this
morning’s chart is 16033.1
96
Now we are going to do the same with the lowest bar
since midnight make a note of this also, this low is
15967.6:-
Next we are going to add 5 to our highest point; this
will be the last digit before the decimal point. With the
decimal point at .4 and under we will round down and
.5 and over we will round up, so the high I will make
note of is 16038. We then do the opposite with the
lowest point, so my low for today will be 15962
(remember the decimal points are reversed on the low
so .6 and under we round down and .7 and over round
up) we get rid of the decimal because it is quicker and
easier to write out the trade ticket.
So we now have our 2 points on our chart. Next we will
raise the line to our high which we can read from the
97
text box on the right, then left click this will leave a
copy of this line,
We then repeat the process with the low price we have
written down and we will have our chart looking like
so:-
Note: - It can be really tricky getting the horizontal line
to stop on a round number just zoom in and it’s much
easier but then don’t forget to zoom out again!
98
Now we go to our order to open trade ticket, in your
IGIndex account and first input the number which the
live bar at present is nearest in this case the high.
We write in the high number of 16038 and then in the
limit box we write 30 and 30 also in the stop loss box
like this:-
Make sure it has BUY in the box for your top order or
sell for your bottom order as this is our green buy
trade. We select buy and hit submit.
The box will disappear then we click the same icon and
do the same trade for the sell which will be 15962 with
99
a 30 limit and 30 stop like so:-
Then we hit the submit button. Now if we click on
working orders we will see our 2 trades waiting to be
opened.
100
I strongly recommend, especially when you are first
starting out, you look at your chart and figures and
double check these numbers to make sure you have
set these 2 trades up properly.
And that is it our work in the morning is done! I told
you it was quick and simple! After a while you will be
able to do this whole process quickly but make sure
you are awake and get these figures right!
When you finish work or come back to check your
trades I normally do this 5pm you should of had at
least 1 trade opened and possibly 2 trades that have
been taken, look at the chart that you have set up and
see where your lines have been broken in this case
both our buy trade and our sell trade was successful.
As we can see over the next page on the BOSS chart
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So that is how the BOSS method is operated, there are
a few other points to mention here are some FAQ’s
1. What if when setting up in the morning just as
7am is approaching the chart is in the process of
breaking a high/low?
No problem we just wait till the 7am bar is complete
and hit our trade 5 pips away, in this case I would use a
live order ticket instead of an order to open and watch
102
for the live price to hit the line then push buy/sell
depending on which direction the market is moving.
2. What happens if I get home from work at 5-6pm
and I have a trade open but not finished?
This is of personal preference I find around this time
the markets are a lot quieter so I would take any profit,
if in profit or around breakeven, but if showing a loss
depending on the size of the loss and if you have had a
trade win already for instance:- if you had a high break
out earlier and made 30 pips then you get back and
have a trade -10pips I’d be inclined to close it as you
have still made 20pips for the day, but as I say that is
103
personal preference, if you let the trades run in the
long term it wouldn’t affect you much either way.
3. I’ve had 2-3 days and made some losses should I
increase the stake to get back my losses? After all,
the strike rate with the BOSS method shows there
has never been more than 3 losing days?
No No No No! I strongly recommend you don’t do that
as we have already said by the next week you should
have made all profits and more back without increasing
the stakes as you will learn in the next chapter we only
increase when our account is growing.
104
Why BOSS Works
This method of trading works because we are leaving
trades in an area either just above or just below high
resistance areas, so to actually push through often
needs big weights of money being traded IE the big
banks and pension funds. A lot of the time will go
much further into profit than the 30 pips we are
looking for, which we can also trade as I will show you
later, but personally I always go for 30 pips.
Of course there will be times when the resistance
areas just get touched but don’t push right through
these like any other method will be losing trades for us,
but what we are looking for with BOSS is a consistency
in our winning, and of course a higher win to lose ratio
which happens every month, if we stick to these rules,
as you will see in the next couple of chapters we will
not have many losing weeks and no losing months (as
in 2009) we will use this consistency with our staking
plan to really capitalise on this.
105
Real Results From 2009
Jan-Dec
On The next page you will see the full results obtained
by the BOSS trading method during the whole of 2009.
How to read the chart:-
I have only entered weekday dates as we only
trade Monday to Friday
The week total is always the Monday to Friday
total
Some months start in the middle of the week
obviously, so the month totals finish on the last
weekday of the month (hence why they differ
from adding the weeks up)
All the red cells are either unsuccessful days or
unsuccessful weeks
There are no unsuccessful months
The * marks on the side are the weeks I don’t
personally trade which is just Easter and Christmas
I left the results in for reference but I will advice
you by email when I personally stop/start trading
BOSS.
106
Date week start to finish Mon Tue Wed Thurs Fri
Week Total
Month Total Total
5th-9th Jan -30 -60 0 0 60 -30 -30 12th-16th Jan 0 30 0 0 30 60 30 19th-23rd Jan 30 30 30 -30 30 90 120 26th-30th Jan 30 30 30 0 30 120 240 240 2nd-6th Feb 30 0 0 60 30 120 360 9th-13th Feb 30 -30 -30 30 30 30 390 16th-20th Feb -30 60 0 30 60 120 510 23rd-27th Feb 30 30 60 0 0 120 390 630 2nd-6th Mar 0 -60 30 60 60 90 720 9th-13th Mar 30 0 -30 30 0 30 750 16th-20th Mar 30 -30 60 -30 0 30 780 23rd-27th Mar 30 -30 0 -30 -30 -60 750 30th Mar- 3rd Apr 30 NT 30 30 60 150 120 900 6th-10th Apr 0 0 NT 0 NT 0 900 *
13th-17th Apr 30 -60 0 30 30 30 930 *
20th-24th Apr 30 -30 30 30 0 60 990 27th Apr-1st May 60 60 30 60 30 210 390 1200 4th-8th May -60 -30 30 0 -30 -90 1110 11th-15th May -30 30 0 0 0 0 1110 18th-22nd May 30 30 30 60 60 210 1320 25th-29th May 0 0 0 0 30 30 180 1500 1st-5th Jun 30 60 -60 60 0 90 1590 8th-12th Jun 0 30 30 30 30 120 1710 15th-19th Jun 30 30 0 60 -30 90 1800 22nd-26th Jun 0 -60 60 30 30 60 1860 29th Jun-3rd Jul -60 0 30 30 -60 -60 300 1800 6th-10th Jul 30 30 -60 30 -30 0 1800 13th-17th Jul 60 30 30 0 30 150 1950 20th-24th Jul 30 30 60 30 0 150 2100 27th-31st Jul 30 0 30 30 -60 30 270 2130 3rd-7th Aug 30 -60 0 30 -60 -60 2070 10th-14th Aug 30 -30 60 30 30 120 2190 17th-21st Aug 30 30 30 60 30 180 2370 24th-28th Aug 30 0 -30 30 -30 0 2370 31st Aug-4th Sep -30 60 -30 30 0 30 210 2400 7th-11th Sep 0 30 0 60 -30 60 2460 14th-18th Sep 30 0 -30 60 30 90 2550 21st-25th Sep 30 30 0 30 30 120 2670 28thSep-2nd Oct -30 30 30 -30 -60 -60 360 2610 5th-9th Oct -60 0 -30 30 30 -30 2580 12th-16th Oct 30 60 -30 30 30 120 2700 19th-23rd Oct 60 -60 30 30 0 60 2760 26th-30th Oct 30 30 0 30 -30 60 120 2820
107
2nd-6th Nov 30 30 30 -30 0 60 2880 9th-13th Nov 30 30 60 30 30 180 3060 16th-20th Nov -60 60 -60 30 30 0 3060 23rd-27th Nov 30 30 30 30 30 150 3210 30th Nov-4th Dec -30 30 0 0 60 60 360 3270 7th-11th Dec 30 30 0 -60 0 0 3270 14th-18th Dec NT 0 0 30 0 30 3300 21st-25th Dec 30 0 -60 -60 NT -90 3210 *
28th-31st Dec NT 0 60 -30 30 3240 *
As you can see out off the 52 weeks of the year
only 8 were unsuccessful ( which 1 was Christmas
so we wouldn’t of traded anyway!) so that’s a nice
total off 3,240 pips not bad for 10 minutes work a
day huh?!
It’s worth noting also that if you had started trading
from the first week of Jan, with the recommended
bank of £3,000, after being 30pips down the first
week your account would have never been below
the £3,000 for the rest of the year!
By the way if you would prefer to trade the same
amount on your trades as I first did, I used 300
times my pip value i.e. myself I had £3,000 for £10 a
pip I find 10% risk ok with BOSS because of the
consistency factor, I know most traders don’t go
above 5%, so if 5% is for you I have included these
108
in the charts below also. But I did start with 300 x
pip amount personally.
Investment plan 10% = 10x unsuccessful trades
5%=20x unsuccessful trades
10% 5%
£3000 at £10 per pip £6000
£4500 at £15 per pip £9000
£6000 at £20 per pip £12000
£7500 at £25 per pip £15000
£9000 at £30 per pip £18000
£10500 at £35 per pip £21000
£12000 at £40 per pip £24000
£13500 at £45 per pip £27000
£15000 at £50 per pip £30,000
£30,000 at £100 per pip £60,000
£60,000 at £200 per pip £120,000
£150,000 at £500 per pip £300,000
£300,000 at £1000 per pip £600,000
109
How To Stake For Amazing Results
After looking at different ways to stake BOSS, I
found out that because of the consistent number of
winning weeks a relatively small account can grow
very quickly.
This is the way I recommend you trade BOSS I also
think it is best and most beneficial if whatever bank
you decide to put away for your BOSS trading,
make sure this is money you will not require or
need for anything else, you want to leave this
money to trade with BOSS solely, set a target of a
point value you wish to get to maybe £50 or £100 a
pip, then let the account grow until you hit these
pip sizes. Once you get to your initial goal per pip
size you can try taking 50% off the profits each
month and letting the rest build again though this is
of personal preference.
Below you will find a chart which is handy to print
off and keep near where you will be trading
110
So these are the figures we need, we have the
aggressive staking method of 10% per trade or the
safer option of 5% per trade.
10% = 10x trades 5%=20x trades
£1500 at £5 per pip £3000
£3000 at £10 per pip £6000
£4500 at £15 per pip £9000
£6000 at £20 per pip £12000
£7500 at £25 per pip £15000
£9000 at £30 per pip £18000
£10500 at £35 per pip £21000
£12000 at £40 per pip £24000
£13500 at £45 per pip £27000
£15000 at £50 per pip £30,000
£30,000 at £100 per pip £60,000
£60,000 at £200 per pip £120,000
£150,000 at £500 per pip £300,000
£300,000 at £1000 per pip £600,000
111
Of course you can start with much smaller accounts
just divide the top numbers by 10 the smallest pip size
is 50p with IG Index (after your trade sense program)
so the minimum amount your account would need
would be £150 , which can still grow large in 1 year.
I suggest you take the latter page out and put that
somewhere near where you will be trading for
reference. Obviously each time we hit 1 of the next
targets we will increase the pip size, but not on a day
to day basis, we will adjust on a week by week basis,
what I mean by this is if you started Monday with your
£3,000 account and we had a good start to the week
and made 60pips, 30pips and another 60 pips on
Wednesday, we would then have our account up to
£4500 which is enough for £15 per pip with the
aggressive staking method but I do not change the pip
value until the start of the next full week, so we will
look at how much is in the account and adjust our pip
size accordingly after Friday ready for Monday.
The same if we are unsuccessful the most BOSS has
been down in a single week is -90 pips so if we were
unlucky enough for this to be our first week by the end
112
of it we would be at £2100, then next Monday we
would start at £5 per pip until we got above £3000
after Fridays trade then we could start at £10 again this
does keep the account safe and although we may have
slight setbacks, when you hit the good weeks your
account can grow very quickly.
Depending on how much of a risk you like to take there
is a couple of things you can do
1. Start with using 5% until you double your bank
then either trade the whole bank at 10% and only
drop back to 5% if you are unlucky enough to get
back to your original stake (which is unlikely)
2. Start trading at 5% until you double your starting
bank then take out your original investment and
trade the new starting bank at 10% you are no
longer risking your own hard earned cash!
3. Trade 10% and as soon as you double your bank
take out your initial investment and carry on
trading 10% (this is relying on you starting on a
good week but the odds are in your favour )
4. And of course you can start with either 5% or 10%
and just stay with the amount you choose until
you hit your goal
113
Results With Staking Plan
Now we will see how different the results can be if you
tie in the advised staking plan, which is why I believe it
would be best to look at BOSS as a 6-12month
investment, because by the end of the year your
original investment could be considerably larger!
On the next pages I will show you the staking method
explained with a starting account of £3,000 the 5%
staking and then the 10% more aggresive staking
method.
The results with the more aggressive staking plan I
have capped at £1000 per pip, I know this would be a
huge amount per pip to try and get on, but I have put
this up to illastrate the power that can be achieved, if
you keep the BOSS trades going over the full year.
114
How to read the chart:- All the dates are again in
weeks, we have the 5% trades to the left and the more
aggressive 10% trades on the right. The stake change
means what the stake would change to at the end of
each week (so what you would trade per pip from
Monday to Friday the following week.)
Date week start to finish
Week Total pips made
£3000 starting with 5%
5% week Stake /Change
£3000 starting with 10%
10% week stake /change
5th-9th Jan
-30 £2,850.00 £5.00 £2,700.00 £10.00
12th-16th Jan
60 £3,150.00 £5.00 £3,600.00 £10.00
19th-23rd Jan
90 £3,600.00 £5.00 £4,500.00 £15.00
26th-30th Jan
120 £4,200.00 £5.00 £6,300.00 £20.00
2nd-6th Feb
120 £4,800.00 £5.00 £8,700.00 £25.00
9th-13th Feb
30 £4,950.00 £5.00 £9,300.00 £30.00
16th-20th Feb
120 £5,550.00 £5.00 £12,900.00 £40.00
23rd-27th Feb
120 £6,150.00 £10.00 £17,700.00 £55.00
2nd-6th Mar
90 £7,050.00 £10.00 £22,200.00 £70.00
115
9th-13th Mar
30 £7,350.00 £10.00 £24,300.00 £80.00
16th-20th Mar
30 £7,650.00 £10.00 £26,700.00 £85.00
23rd-27th Mar
-60 £7,050.00 £10.00 £21,600.00 £70.00
30th Mar- 3rd Apr
150 £8,550.00 £10.00 £30,000.00 £100.00
6th-10th Apr
0 £8,550.00 £10.00 £30,000.00 £100.00
13th-17th Apr
30 £8,850.00 £10.00 £33,000.00 £110.00
20th-24th Apr
60 £9,450.00 £15.00 £39,600.00 £130.00
27th Apr-1st May
210 £12,600.00 £20.00 £66,900.00 £225.00
4th-8th May
-90 £10,800.00 £15.00 £47,100.00 £155.00
11th-15th May
0 £10,800.00 £15.00 £47,100.00 £155.00
18th-22nd May
210 £13,950.00 £15.00 £79,550.00 £265.00
25th-29th May
30 £14,400.00 £15.00 £87,050.00 £290.00
1st-5th Jun
90 £15,750.00 £20.00 £113,150.00 £375.00
8th-12th Jun
120 £18,150.00 £30.00 £158,150.00 £525.00
116
15th-19th Jun
90 £20,850.00 £30.00 £205,400.00 £680.00
22nd-26th Jun
60 £22,650.00 £35.00 £246,200.00 £820.00
29th Jun-3rd Jul
-60 £20,550.00 £30.00 £187,100.00 £620.00
6th-10th Jul
0 £20,550.00 £30.00 £187,100.00 £620.00
13th-17th Jul
150 £25,050.00 £40.00 £277,100.00 £920.00
20th-24th Jul
150 £31,050.00 £50.00 £358,100.00 £1,000.00
27th-31st Jul
30 £32,550.00 £50.00 £388,100.00 £1,000.00
3rd-7th Aug
-60 £29,550.00 £45.00 £328,100.00 £1,000.00
10th-14th Aug
120 £34,950.00 £55.00 £448,100.00 £1,000.00
17th-21st Aug
180 £44,850.00 £70.00 £628,100.00 £1,000.00
24th-28th Aug
0 £44,850.00 £70.00 £628,100.00 £1,000.00
31st Aug-4th Sep
30 £46,950.00 £75.00 £688,100.00 £1,000.00
7th-11th Sep
60 £51,450.00 £85.00 £748,100.00 £1,000.00
14th-18th Sep
90 £59,100.00 £95.00 £838,100.00 £1,000.00
21st-25th Sep
120 £70,500.00 £115.00 £958,100.00 £1,000.00
28thSep- -60 £63,600.00 £105.00 £898,100.00 £1,000.00
117
2nd Oct 5th-9th Oct
-30 £60,450.00 £100.00 £848,100.00 £1,000.00
12th-16th Oct
120 £72,450.00 £120.00 £968,100.00 £1,000.00
19th-23rd Oct
60 £79,650.00 £130.00 £1,028,100.00 £1,000.00
26th-30th Oct
60 £87,450.00 £145.00 £1,088,100.00 £1,000.00
2nd-6th Nov
60 £96,150.00 £160.00 £1,148,100.00 £1,000.00
9th-13th Nov
180 £124,950.00 £205.00 £1,328,100.00 £1,000.00
16th-20th Nov
0 £124,950.00 £205.00 £1,328,100.00 £1,000.00
23rd-27th Nov
150 £155,700.00 £255.00 £1,478,100.00 £1,000.00
30th Nov-4th Dec
60 £177,100.00 £285.00 £1,568,100.00 £1,000.00
7th-11th Dec
0 £177,100.00 £285.00 £1,568,100.00 £1,000.00
14th-18th Dec
30 £185,650.00 £305.00 £1,598,100.00 £1,000.00
21st-25th Dec
-90 £158,200.00 £260.00 £1,508,100.00 £1,000.00
28th-31st Dec
30 £166,000.00 £275.00 £1,538,100.00 £1,000.00
118
As you can see by the end of the year, whichever
trading style you decided to use you would be
massively in profit.
The results have been given with the recommended
bank off £3,000 but even with just £300 and trading
the aggressive method starting at just £1 per pip you
would be well over £100,000 at the end of the year so
there would be no need to put more than you can
afford in your account to trade BOSS.
119
Advance Settings with Results
This is a new section I have added for 2010, as I said I
am constantly looking at other ways to Make BOSS
more profitable.
In this section I have tried the following:-
1. Starting trades with a 30limit/30 stop loss after
8am
2. Using a 30 pip trailing stop from 7am with a 30
limit
3. Using a 30 pip trailing stop from 8am with a 30
limit
4. Using a 30 pip trailing stop with a 50 pip limit from
7am
5. Using a 30 pip trailing stop with a 50 pip limit from
8am
6. Using a 30 pip stop with a 50 pip limit from 7am
This is purely to show what I have researched; I would
still recommend using the original settings to start with
as these have always been most profitable and
consistent.
120
As you can see from the spreadsheet below the 30 pip
30 stop loss has performed best. With the 50 pip limit
and 30 pip stop loss second.
I think in the long run this could be a very profitable
way to trade BOSS capitalising on the big moves, a
good week could bring in plenty of pips.
I would not recommend using the more aggressive
staking plan though as the consistency would not be so
high, if you do consider trying for the 50 pips, 5% is the
most I would risk per trade.
To understand the spreadsheet from left to right the
columns are:-
1. Date
2. The max number of pips available on the buy trade
3. The max loss before turning to profit for the buy
trade (if na is shown the loss has gone far past the
30pip stop loss)
4. The max number of pips available on the sell trade
5. The max loss before turn of the sell trade
6. Total pips with a 30pip stop loss/limit (standard
setting)
7. Total pips if trading from 8am
8. 30pip limit with a 30 pip trailing stop from 7am
121
9. 30pip limit with a 30 pip trailing stop from 8am
10. 50 pip limit with a 30 pip trailing stop from
7am
11. 50 pip limit with a 30 pip trailing stop from
8am
12. 50 pip limit with a 30 pip stop loss from 7am
As I said this is purely to show what I have been
working on, at first I thought the 30 pip stop loss would
save us some pips on the trades that don’t quite hit the
limit before re-tracing but it seems in the long run it
will cost winning trades as well.
Date High mlb4t low mlb4t
Total 30/30 7am start
Total 30/30 8am start
30ts 7am
30 ts 8am
50ts 7am
50ts 8am
total 7am 50/30
4/1/10 87 12 8 na 0 30 0 30 20 50 20
5/1/10 x x 72 22 30 30 30 30 0 0 50
6/1/10 54 19 x x 30 30 30 30 50 0 50
7/1/10 x x 6 35 -30 -30 -30 -30 -30 -30 -30
8/1/10 148 3 x x 30 30 30 30 50 50 50
Week Total 60 90 60 90 90 70 140
11/1/10 82 22 x x 30 30 -10 30 -10 50 50
12/1/10 61 23 x x 30 30 30 30 0 0 50
13/1/10 67 34 x x -30 30 -30 -10 -30 -10 50
14/1/10 61 23 x x 30 30 30 30 0 0 50
15/1/10 x x 12 39 -30 -30 -20 -20 -20 -20 -30
Week Total 30 90 0 60 -60 20 170
122
18/1/10 54 12 x x 30 30 30 30 50 19 50
19/1/10 23 na 21 na -60 -60 -40 -30 -40 -30 -60
20/1/10 x x 23 na -30 -30 -10 -30 -10 -30 -30
21/1/10 x x 117 0 30 30 30 30 50 50 50
22/1/10 35 6 86 0 60 0 60 60 50 20 20
Week Total 30 -30 70 60 100 29 30
25/1/10 113 28 x x 30 30 -10 -10 -10 -10 50
26/1/10 x x 93 0 30 30 30 30 50 50 50
27/1/10 2 51 x x -30 -30 -30 -30 -30 -30 -30
28/1/10 41 0 20 16 40 -30 30 -20 11 -20 -60
29/1/10 14 na 110 17 0 0 10 10 30 30 20
Week Total 70 0 30 -20 41 20 30
Month Total 190 150 160 190 171 139 360
1/2/10 x x 81 19 30 30 -30 -30 -30 -30 50
2/2/10 28 15 13 na -15 -15 -5 -15 -5 -15 -15
3/2/10 32 9 54 7 60 0 20 -40 -10 -40 20
4/2/10 x x 71 29 30 30 30 30 0 0 50
5/2/10 x x 45 0 30 -30 30 -30 15 -30 -30
Week Total 135 15 45 -85 -30 -
115 75
8/2/10 31 0 x x 30 30 30 30 0 0 -30
9/2/10 1 na 1 na -60 -60 -60 -60 -60 -60 -60
10/2/10 44 5 5 na 0 0 0 0 -30 -30 -30
11/2/10 52 0 40 0 60 60 60 60 50 50 20
12/2/10 31 10 73 10 60 60 60 60 50 50 20
Week Total 90 90 90 90 10 10 -80
15/2/10 34 25 18 na 0 30 10 30 -20 0 -30
16/2/10 7 na 21 na -60 -60 -40 -40 -40 -40 -60
17/2/10 20 na 22 na -60 -60 -20 -40 -20 -40 -60
18/2/10 x x 79 5 30 30 30 30 50 50 50
19/2/10 x x 3 39 -30 -30 -30 -30 -30 -30 -30
Week Total -120 -90 -60 -80 -50 -60 -130
22/2/10 3 55 x x -30 -30 -30 -30 -30 -30 -30
23/2/10 33 0 85 0 60 30 60 30 50 50 20
24/2/10 8 na 5 na -60 -60 -60 -60 -60 -60 -60
25/2/10 x x 126 17 30 30 30 30 10 10 50
26/2/10 23 na 78 15 0 0 20 20 40 40 20
Week Total 0 -30 20 -10 10 10 0
Month Total 105 -15 95 -85 -60 -
155 -135
1/3/10 x x 307 0 30 30 30 30 50 50 50
2/3/10 35 28 x x 30 30 -20 -20 -20 -20 -30
3/3/10 50 6 x x 30 30 30 30 50 50 50
4/3/10 2 42 14 20 -30 -30 -30 -30 -30 -30 -30
5/3/10 77 0 12 na 0 0 10 0 30 20 20
123
Week Total 60 60 20 10 80 70 70
8/3/10 2 na 11 45 -60 -30 -60 -20 -50 -20 -60
9/3/10 x x 36 17 30 30 30 30 0 0 -30
10/3/10 x x 74 6 30 30 30 -20 50 -20 50
11/3/10 74 0 x x 30 30 30 30 50 50 50
12/3/10 135 0 5 na 0 30 0 30 20 50 50
Week Total 30 90 40 50 70 60 60
Total so far 2010 385 285 315 165 261 114 355
As we can see the standard settings has made the most
profit but I think the end column of 50limit with a 30
stop loss is worth keeping an eye on!
Please don’t let any of this confuse you, when you start
out stick exactly to the recommended settings, I just
thought I’d share more brain storming with you. Any
other good settings I find in the future you will receive
in an email all updates will be free for original Boss
method purchasers.
124
How To Use Your Tracking Tools
The first Tool Is the simple table I made to enter your
results in, this is for people who would prefer to print a
couple sheets out, and then just fill it in with a pen
every night which is what I always used to do!
From the left I will explain each column
1. Date:- This will be the weekday date no need to
write in weekend dates just skip those 2, only
weekdays are needed
2. B.O High: - that’s break out (not what B.O is
normally short for!) write here the total amount
of pips that went above the high line you marked
on your chart
3. MLB4T:- That is short for max loss before turn, I
like to know how much of a loss the trade went
into before winning
4. Result:- If you are trading the recommended
30pip stop/limit you put either +30 or -30 here
125
5. 6.7 And 8 are the same but for the short trade and
the weekly stake should only change on Mondays
and the last column is your own running total.
Date
B.O HIGH max pips MLB4T Result
B.O LOW max pips MLB4T
MAX PIPS TOTAL
weekly stake
running total
126
Now I will show you how to use the forex trading account excel sheet to keep track of your trades.
I like to use this; it was designed by a friend of mine who agreed to let me share it. It is very straight forward.
127
1. This is where you put your starting account
balance
2. On the left you will put your pip starting price
for the week i.e. in this case it will be £10 and
to the right you will put your outcome for the
trade so in this case it was 30pips.
3. This is the date of the first Monday you will be
trading the spreadsheet will automatically
follow suit with the rest of the weeks
4. The account by week and the weekly
calculator, as you fill up the week and finish
Friday the spreadsheet will add up the week
for you in the blue, under the weekly
calculator.
You add this to your start bank and then write
in the account by week cell, then each week
you put your last week’s result in the weekly
calculator, then in the blue cell underneath it
will tell you your new week total, which you
manually put into your next week cell and so
on.
128
Conclusion
By now you should understand the BOSS trading
method and have a lot to think about, remember have
faith in the consistency of the results and have a little
patience to start with.
Once the ball really starts rolling profits accumulate
very fast.
Look back at the past results, some weeks will have no
move on the account, don’t let this bother you as when
you hit the good weeks the pips will come thick and
fast and your own account will grow very fast.
I am constantly monitoring the results for BOSS and I
am already looking at a few extra ways to trade, as
long as your email is in my mailing list you will have any
129
extra tips or changes to BOSS for free I will make sure
you get them.
Also if you think you have anything to add I will be
more than happy to look and analyse past results.
Any problems or if you are confused about anything I
aim to get back to people within 24hrs but as quickly as
I can!
Happy Trading and I hope you have a great time
trading BOSS good luck!
I will also keep everyone updated with the live results I
am getting so everyone can check their own results to
see if they are getting the same results.
130
Contact Details
My email is: - [email protected]
Please do not hesitate to contact me about anything at
all, no matter how small it seems I will be happy to
help, if you get really stuck I will also offer a phone
service but please email first.
Also I would love to hear any success stories you have
in the near or distant future and don’t forget to include
your name so I can address you personally.
All the Best
Lee
131
Disclaimer
Financial Spread Bets are a leveraged product and therefore may not be
suitable for all investors. Financial Spread Bets carry a high degree of risk to
your capital and it is possible to lose more than your initial investment or credit
allocation as well as any variation margin that you may be required to deposit
from time to time. You should only speculate with money that you can afford
to lose. Please ensure that you fully understand the risks involved and seek
independent advice if necessary and prior to entering into such transactions as
neither myself or LPS Publishing will be held responsible for any financial losses
that you might encounter through any carelessness.
The strategies, general information and opinions contained in this manual are
that of the author and should not in any way be viewed as investment advice.
They represent the author’s personal trading experiences and are subject to
change without prior notice. Past results are no guarantee as to future
performance.
The information contained in this manual does not constitute any
recommendation to order, trade, buy or sell the financial markets in any way.
Neither the author nor publisher accepts any responsibility for any investment
decisions made by any reader or user of this manual.