- Place a limit order some pips above/short – below/long the bollinger bands, if the price doesn’t hit the order be patient, maybe the next time will do. The number of pips depends on the pair, but I can say half of the spread you’ll pay it’s a good number.
- Close the position some pips before the price reach the oposite bollinger band.
- Avoid scalping when news concerning the pair are coming (1 hour or nearer).
And finally I think it’s the most important point, identify the main trend, open a chart of 1 hour and other of 4 hours, the price usually ranges but in one direction, at least slightly, so, if you see the martket is ranging in bullish direction, place only the long orders, and if the market is bearish place only the short orders.
Try it on a demo before go real, it requires practice and knowledge of the typical movements of the pair, try to stick just to one or two pairs so you really notice how they are used to move.
Hope this helps, good luck