I disagree on the leverage. Guns don't kill people. People kill people. The same with leverage.
With financial instability and incidents like Alpari I say bring on 2000:1 leverage and thin capitalisation - purely because then more money can stay where it needs to be. In my account. I would rather owe my broker than have my broker owe me.
Also, after many years looking at this I reckon one of the biggest issues for new retail traders is watching too many things. Its like learning to fly a plane blindfolded. Rather learn to fly first - then try figure out how to deal with the blindfold.
Consistently on myfxbook competitions, the average losing trader has 65% winning trades but average loss is double the average gain. I am no statistician, but the coin flip analogy is often used, and coin flips are a 50:50 thing. So fine. Forget everything else, conceptually, flip a coin and you will be right half the time which is less than the 65% wins from trading competitions.
So if you can be right 50% of the time, the key to having edge (or total gains exceeding total losses) is to be able to consistently identify R:R greater than 1:1 because with say average performance of $1.7 of gain for every $1 lost, then 50% win rate or 65% win rate, a trader will be profitable - and no need to follow 1% rules or 3% rules or anything else. Just trade consistent lot size regardless of profits or losses
Edge is edge and a methodology with edge recovers from drawdowns be they 10% or 70%
If you like it, buy it. If you don't sell it.