I haven’t gone live yet. However sometimes the SL levels seem awfully big. So I understand that would be a key factor in position size in relation to overall acct. % risk.
A similar strategy is the babypips “So Easy it’s Rediculous” (SEIR)strategy.
What I found backtesting both strategies on the same charts that the SEIR 50 day ma would often prevent buying into a trading range or a small trigger on the PMMFTS strategy.
This is how I have been “studying” with both systems.
First I’d bring up a weekly chart and marke S/R lines. Then go to the daily and mark S/R lines in a darker color.
Using MT4, I would go back to Jan. 2016 or 2017 and go a candle at a time on a daily chart looking for the trade triggers, corresponding vol, price action all in relation to the S/R levels.
I have found this to be a tremendous value in improving my chart reading.
The best thing that I like about it is it trades off of the daily chart. Once a day at 5:00 EST check the 10 charts and I’m done.
There’s no rushing or pressure.
I’ll follow-up when I go live. I am sure that will be a completely different story!