Alok….I would recommend you going against this strategy if you are NOT a professional trader. For a part time trader, sooner rather than later, he is likely to lose all his money.
I met a professional trader a couple of days back, who had 7 consecutive losing trades in copper. Down 3% of his equity in each trade. However in 8th trade, he tripled his money. How many part time traders can trade for the 8th time using the same strategy after having 7* consecutive losses? If you can, then go for low leverage, large positions, small stops and don’t expose more than 2% of your equity on any trade.
Good Luck.
* I am hoping to repeat his strategy. My last four trades in zinc have all been stopped. I am waiting for the fifth signal.