I've been trading this way since Oct 2011, and after each devestating loss (and there were only a few) tweaked. Keep in mind, you can't protect yourself without giving up some profit potential on the other side. Highwater mark in 2012 was 78%, I think it ended something like 62% but that was not really accurate because I carried a trade over New Years that was a big awful loser and just by luck ended Jan 31 at breakeven. Lost 25% of account in just 10 days in Feb 2013 (but that was trading directional rather than the strategy that got me here. Why did I change? Because I was just breaking even and was afraid I just got lucky in 2012.) I'm tired of defending it. Buy dips, sell rallies (whether they are winners or losers), never add to my largest loser, and scale out with those hated miserable stops once I have a full load on, never move the stop, if it never gets hit, great, if it gets hit put in another until I get back down to an addable size. Don't think it would work in any other market. I need at least 3 or usually 4 pairs. Typically long two and short two the base currency. When I started I traded 6, but the SNB peg messed up eur.chf. Now it is going like clockwork. Almost every decision is covered. Except, when to take a profit. If you can come up with a good answer for that one, let me know. I have a target which when gets hit, profits are taken no questions asked. But many, if not most times I feel I am in a high energy profit and take it and get back down to starting size. so it's the same as it has always been, 90% is just money management, 10% is reading the market.