Simple Trade from Elite Trader

I came across this in a thread from emini_traders_anon disussion group that might be worth looking into:

5-minute chart, standard Bollinger Bands (20, 2.0)

Buy Signal:
Wait for a bar whose high is sticking above the top Bollinger line
and whose moving average line is up compared to the last bar. Wait for a
minimum of one bar that has a lower high (to generate a pivot high),
and also wait for a bar whose low is lower than the pivot high bar.
This can happen within 1 bar or 15 bars. I usually prefer to wait at
least 2 bars after the bar high in order to create a proper pivot
(this is discretionary). Buy 1 tick above the pivot high on a
breakout. Sell automatically for $200 profit. Trail the stop behind
any strong up bar (open at bottom, close at top, decent range)
otherwise keep it $150-$200 away or behind a pivot low. Reverse logic
for sells.

Look for ONLY one trade from 09:40 – 11:30 EST and only one trade from
14:00 – 16:15 EST. Do not trade any other
hours or any other signals no matter what. This is what is known as
having patience and discipline. Will you
miss some moves in the middle of the day? Yes you will. The aim is
not to be a clever arse. The aim is to make money by focusing on
strong momentum moves. Let everyone else tear each other's hair out
in the middle hours - while you go to the gym. You wanna trade when
the institutions come into the market and drive it. That means the
first two hours and the last two hours. It helps retain focus.