Stop Loss always 12.5 pips
Take Profit always 15 pips
-> New Rule: Quit for the day after 3 profits or 2 losses - whichever happens first.
Euro, Cable, Aussie, Kiwi, Gold.
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Well sir, looks like you're playing checkers at a chess match.
When I stop trading for the day after 2 losses or 3 wins (which ever occurs first) it sort of manages risk on a day level. It reduces possible scenario outcomes down to 5. From worst to best they are.
(1) two losses
(2)two losses, 1 profit
(3)two losses, 2 profits
(4)one loss, 3 profits
(5)three profits
Today was a number (4).
EURUSD - tp
AUDUSD - tp
NZDUSD - sl
GBPUSD - tp
Well sir, looks like you're playing checkers at a chess match.