This is an intra-day trend strategy, with strict risk management measures in place. Open positions are generally closed before North American lunch time. The strategy trades numerous majors, Gold and Oil. Trading may not occur often, as good opportunity doesn't come daily.

Trades are not held overnight because what happen today may not happen tomorrow. For example very often we see market drops significantly and only to see it rebound strongly on the next day. Of course, there are instances where market may continue to drop tomorrow, but I prefer to evaluate on a day to day basis. I prefer to start a new trading day clean with no position, so that it does not get married to an idea that belongs to the past, where new information keeps coming in that could negate the truth of the past.

Target drawdown is 10%. I risk a maximum of 2% of account balance per currency pair per day. It is possible for me to trade more than 1 currency pair per day, but my total daily risk is capped at 6% a day. Most of the time it is just 2% or 4% though. Hard stop is always placed by using stop loss.

I slice the 2% risked per currency pair into about 4-5 trades for easier trade management, i.e. i have the flexibility and speed to scale out positions. So if i slice it into 4 trades, then each trade carries 0.5% risk. Again, it will not exceed 6% total risk per day.

Myfxbook:
https://www.myfxbook.com/members/lummy777/peace-pacific/1204375