This money management system looks quite good, Although I am new to trading so what was the outcome? and is this worth using or is it destined for busto
you need alpha with it, a string of 1% losses can wipe you out. The 1% is product of stop distance and quantity. A large stop distance by reducing quantity to 1, and using a trend filter and alpha will increase chances of breaking away from stop.
Another thing I can add tho this. You can always enter into a good trade if you have a smart Risk-Reward ratio. I mean anything like 3:1 Risk-reward ratio is always a good one. This will definitely help you to make a greater amount of money from your investment. But... that doesnt mean you can trade on anything. you must do research and find a proper trade opportunity everytime.