Long term point and figure charts - MT4/MT5 resources

Have you ever heard the saying “less is more”? This is true in many situations, especially in the world of Forex. I've found a very profitable long-term strategy using point and figure charts. Below are the rules for this system.

Buy at a box above the starting point of the first box in a downtrend and sell at a box below the starting point of the first box in an uptrend.
A trend is defined as 10 or more boxes in the same direction.
Stop loss is when you receive a signal in the opposite direction. Alternatively, stops can be set near support or resistance levels on a candlestick chart using the EUR/USD system

Example of selling at the red horizontal line, which is one box below the starting point of the first box in the current uptrend.
http://img27.imageshack.us/img27/878/unavngivetaqz.jpg

Take profits when you are satisfied with your profits. Don't be greedy.
http://img27.imageshack.us/img27/29/unavngivetr.jpg

What do you think of this strategy? I don't have exact numbers, but I think about 90% of trades are profitable. The question is when to take profits. I don't have exact rules for this. The indicators I use are attached to this article.

EDIT: Please read all posts in this thread before asking any questions. I don't like repeating myself again and again.