Quote from tampa:
As a gesture of goodwill, and in the spirit of sharing â one for all and all for one â I will release, and fully disclose my renowned trading system â the tampa technique. The same method used in my chat room, and that has brought thousands riches beyond their wildest expectations. After many years of hard work, and exhaustive back testing, I have developed a system that is a cash cow â a virtual ATM machine. And whatâs even more special, I will share it with you â at no charge, and without any obligation.
Setup is as follows -
1 Min chart (waiting to test on tick charts when Q finally gets them)
20,2.2 Bollinger Bands
20 period EMA
5,2,1 Stochastic 85,15
20,3,1 Stochastic 85,15
STRICT rule entries -
Short setup - only two conditions MUST be met, well actually three -
1. Price penetrates the BB band on the upside.
2. The 5,2,1 is above the 85
3. Price must move below the bar that penetrated the BB band (the previous high bar) by one tick, and NOT also create a new high.
A sell order LIMIT is placed at the low of the previous bar - can also be placed one tick below - matter of choice - the limit will miss a few moves..but....immediately (if not sooner) upon fill a target and stop are placed; this is why a trading software like BT is nice (What happened to Jasper - was looking forward to trying it?)
Using BrackeTrader a target is set for 1 point and a stop is also set for 1 point. However I will often hit the smaller target button if price does not go my way QUICKLY! This is a scalp after all and any profit is a good trade. I do not trail stops or move them. I may widen an initial stop to a max of 1.25 if the high of the bar so dictates.
A buy is exactly the opposite.
Very simple, yes?Thoughts, questions, comments.
I am doing this decent thing because I have always been a straight shooter â in fact, you could say, straight as an arrow. Sharing has always been a part of my life, and it continues to this day.
I like this - is it copyrighted or may I plagerize it?
Make 'em pretty, Chris