In love with 4hr PA. Looking at Charts only 5 times a day!
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Thread: In love with 4hr PA. Looking at Charts only 5 times a day!

  1. #1
    I've started this journal to help me stay focused and on track. Ifelt that the pain and've lost money that was real.

    I'm going to be trading demo and on 4hr charts only. Trading price action and S/R lelvels.

    I'm considering 18 pairs. Haha I know that sounds like a lot. But What I look for is fairly specific along with price action so that it takes me 5 mins max to scan all of them in the close of each 4 hr candle.

    I will be risking maximum 2% per trade with complete vulnerability being 6 percent at any given time. My intial profit target is that the close of the first/second 4hr candle after beginning the trade depending on whether the trade is actually profit or not. Then I move the rest to Breakeven and take it off where I see fit. That way my money isn't stuck in one trade.

    (plan altered upgrade)
    Only considering Majors today
    First target 8-16hrs

    I've included the account to exchange explorer so anyone can see what I am doing.

    Updates: Weekly summaries
    Week 1 1.8%
    Week two 8.43%

  2. #2
    Now current trades

    AUDCHF Brief 0.94900
    Currently -18 pips

  3. #3
    Marketed USDJPY 79.41
    AUDCHF looks like its going to prevent me out. Currently -41
    Note to self: perhaps look to close trade if price closes above my trendline (will proceed within this weekend)

  4. #4
    Had some difficulties with my entries but recognized too late.

    AUDCHF -50.3
    USDJPY -11.3

    reduction for the day -61.6 pips

  5. #5
    currently short GBPCHF, USDCHF
    Long GBPUSD

  6. #6
    Closed partly and at be.
    USDCHF 14.9 pips
    GBPCHF 12.7 pips
    GBPUSD hasnt moved enough yet so profit not accepted
    price could invisibly and take me out but that I can enter back after 4 hrs.

  7. #7
    GBPCHF, USDCHF rest Ceased out at be

    Currently in GBPUSD -14 pips

  8. #8
    Shorted USDCHF
    Nevertheless in GBPUSD Almost hit my stop today back at -14 pips

    Because I knew there was news coming out I waited an extra half hour after my time to enter the trades.

  9. #9
    EURUSD, USDCHF I got greedy and didn't take profits when I was supposed to so ended up Breakeven. I may enter again if Pa appears sexy.

    Remember to choose what the market gives. Price will always return and you are able to re-enter

    GBPUSD Took half profits 58.9 pips
    AUDUSD Took half profits 35.1 pips

    rest at be.

  10. #10
    Rest of AUDUSD was stopped out in be.
    Did a stupid trade going down to 1hr. Lost against my principles (note: for weekend review)

    Initiated 2 new transactions
    EURUSD Long
    USDCHF Brief

    Time for bed. Will check tomorrow on the transactions. 8 hrs after

    Nevertheless in previous gu half.

    Complete pip count for the day: 102.9 pips

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