Disliked{quote} I presume you picked 5R as the hard exit for a reason, i.e in testing it showed good results. If you repeated the exercise but at 5R you trailed a stop loss by 1R what would your results look like? What you are likely to discover is that you catch a lot of trades that blast through your target and your average RR and profit increases. You only see this effect over longer samples of trades. What you are actually doing is risking 1R of your 5R win on a new trade - and it increases your opportunity of good luck. If you have some time I suggest...Ignored
In the talks with traders interview with Scot Billington he talks about being able to write a good strategy on a napkin. I think that's what we have here.
Is the 'Success Equation' by Michael Mauboussins the one you mean? It's the most recent one it seems.