I am using this on daily charts only. So far so good, but I’ve just been testing it for less than 2 weeks.
I’ve simplified the system, and I basically only use it for entries.
I follow the entry rules.
No fixed SL amount, as I use prior sup/res levels to place stop below/above them. I adjust my SL once every day (near close of daily candle)… always in direction of trade, and never increasing the risk. I don’t follow the break even rules, I let price action and sup/res determine when and where to move my SL.
No TP, I let my SL take me out of trades.
My risk per trade is in units, and it’s 1 unit per dollar in my account at the time of taking the trade… I look at my my unrealized balance for this.
I’m looking for entries on 27 pairs
These are my current trades. All of the trades in the green have some secured profit. On the one in red, I moved my stop closer to price action to further reduce risk.