Rules

1. Max Account Daily DD = 7%
2. Max VaR 25% at any time
3. Max Daily DD for a Symbol = 3%
4. Max Daily DD for a single trade = 2%
5. Max Number of Trades per symbol at one time = 2
6. Max Number of Trades per day = 20
7. Max duration of a losing trade = 2 days
8. Max duration of a winning trade = 4 days
9. Trades must be placed on price action or technical chart setups or news events NOT on economic views or gut feel.
10. 3 losing days in a row require cutting back trading activity by about a 3rd. Do not actually measure but it should feel like I am cutting back.

Guidelines

1. Before placing a trade you should have reviewed at least an hourly chart, it will be good to review daily, hourly and 15/5 min charts before making up my mind to trade.
2. Where feasible try to place a stop loss at a technical level that seems reasonable.
3. Where feasible try move the stop loss of a winning trade into a no loss position provided it doesn't compromise the ability to trade the original setup by being too restrictive in the hope to trade risk free.
4. Try explore trading with a take profit.
5. Need to investigate doing more correlation analysis before placing trades that may be too similar.
6. Need to consider a rule around moving Stop Loss towards break-even.