DislikedInteresting system Tony. One question:
You place the SL on the other side of the first candle and go for 10-20 pips, what is the typical (or average) risk:reward ratio here?Ignored
Ideally you should exit if the price moves 5-10 pips against you and accept the tiny loss instead of a big one. There are many more opportunities that will arrive again, so you can try again.
The old saying, cut off the losers and let run the winners.
Remember its a 2 candle strategy and not a 3-4-6-8 candle strategy, but if you feel it could trend more, its best to break even the trade to allow it to run for more.
prepare for worst & expect the best