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I am intrigued by this. I would suggest, however, that your contract-size is too large, because yours loss limit will suffer too many hits when an entry goes bad and the trade goes against you. You have listed a daily loss-limit, but what is your daily target? How much per day are you hoping to make with a 150K account? I did not see that listed in the OP.
Do you have a resting order at YL or are you looking for some kind of signal to avoid getting run over by a train? I have noticed that CL respects levels (including pivots) rather nicely. Goes from S1 to Pivot to R1 and back down.
Personally- I trade price levels so I will enter wherever I feel is appropriate. Believe it or not- getting run over does not happen as often as people believe. I do not use hard stops either so that helps a bit on false moves. I try to let the market prove me wrong but my style is not for the faint of heart. I personally love using the short term P&F signals in the direction of the trend for adding size.
Yes, I have been down this road, this "Taking all qualifying trades." If you simply set a target for each trade, surely you will not hit your loss limits.
Cut your losses short, and let your profits run. There is merit in this idealism.
P.S. On an account of your size, you do not need to set such a minimum drawdown as you do. You could suffer a much bigger one than that and still make profit."
Your system isn't going anywhere. Too many loss days in a row. Stop trading it and find what is going wrong with it. Sux, but you gotta' do it, or you will whittle away that 147K to nada over time.
