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One more thing, I only trade GBPUSD, EURUSD, and EURJPY. Mainly due to the spreads and the liquidity. I often raise my stops to 25 pips on cable and EURJPY because of their movement and bigger spreads.
You should feel free to make your own decisions in this matter as this system is just as viable for all pairs. However, take into account the average movement of the pair and the spread before starting to trade.
I also tend to trade only one pair at a time. This is a factor of my own risk tolerance and my need to nurse my trades. This is a personal character issue and may not be reflective of your trading style. As a result I may miss perfectly good trades on other pairs once I decide to get into a trade.
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