Just skimmed over your post but how wide are your stops when trading the dailies and what markets do you trade?
I got anhialated trading the 4HR TF on EUR\USD because my stops were too tight. If you trade long TF's your stop must be protected by a decent support\resistance level or you'll get screwed. Also, ditch the notion that you need a certain RR ratio - 3:1 etc is ********.. If you have a 100 pip stop and market gives you 90 pips profit and you can see it turning then cut it quick... Don't wait for it to either stop you out or hit your 3:1 because the market couldn't give a **** about where your targets and stops are. It simply goes where it goes but gives plenty of clues on the way!
Yes, but you are talking forex and he is talking shares. A share trader, or even an index trader, IMO, should keep close stops. Why lose too many points in a losing trade? You have to get them back again, afterwards. Forex, I dont know too much about, but 100 points stop is what has kept me away all this time. Even now, when I trade cable or euro/$ I come to a decision to cut when I think I am wrong which, normally, is not much more than 25. I think that carrying too much risk is imprudent.