Majak kur re ho bhai... mind kurne ke liye hona bhi to chaiye..
Alok the problem with this system is a sudden move.. it works great when there is a granular move.. this system is based upon last 3 bars and if there is a sudden dip then you hit the SL.
May be you can keep the SL as 1% of the profit? to close the trade in profit. Anyways.. like any other system its not full proof.. but it works on 1 simple principle I just realized.
Market trends per the smart money.. where they want to take it.. no matter what pivot, support, resistance you figure out.. market will always prove you wrong some day. the only way out is to follow where ever market goes and in longer period market will give good returns to those who move with them. Closing price of the last 3 bars can be a great tool to define where they actually want to take.. if you want to take little big risks then you can increase these bars to 5,8,13 or whatever you feel comfortable with.
Lets see where this system takes me in the end.