Simple Breakout Trading Strategy

The speaker provides a simple day trading breakout strategy.  The strategy involves using bollinger bands and bar charts (or even candlestick charts).  When the bar closes outside of the bollinger bands, a market order is executed; an order to sell short when the lower band is penetrated, and a buy order when the bar closes above the upper bollinger band. 

The stop rules are simple as well.  A stop would be triggered if the current bar closes back within the two bollinger bands or if the security moves against you in an amount equal to 10% of the previous days range.