It seems like a good strategy and I have both backtested it and tried it in real time trading. It's what gave me two, 50 tick winners in the Bund in the space of a fortnight last year. These two days were exceptionally volatile though and it is unworkable for me really as I have to close out positions by the end of the day. Something that makes the system in the book fairly unworkable. Anyway, check it out it's actually a good book.