Forex Overeasy Technique

Howdy all, Im fairly new to this forum and forex all together, although Ive been lurking for a few weeks. Ive yet to find a thread on FF about the Forex Overeasy system as noted by Diallist in this thread:

http://www.forexfactory.com/forexfor...ead.php?t=3689

Can anyone share any experience with this system? Ive been using it a few weeks and it seems nice, as long as the rules are followed very strictly, of course. One problem Ive had, for example, is determining stop losses. It seems as though having no stop losses in place, while extremely risky I know, usually nets considerably more pips over time; however, that one sharp retracement against the trend for 100 pips can hurt. :

Another thing is the length of the channel, as well as the slop. It seems the longer the channel, while it would seem to be optimistic, often has proven to be to be very dangerous. An extreme slope, or even a flat one for that matter, often has turned out the same for me.

Also, if anyone is using this technique, what are your favorite sessions to trade, as well as pairs? How many do you concentrate on?

Anyways, please discuss this method, or point me to a thread at the Factory. Thanks!

Todd

BTW, Ive read a great deal of the thread at StrategyBuilderFX forum regarding this method, and to me its basically all about making an EA for it, which I understand to be virtually impossible. This is not what Im interested in.