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

I've started this journal to help me stay focused and on track. I've lost real money and felt the pain.

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

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

I'll be risking max 2% per trade with total exposure being 6% at any given time. My intial profit target is the close of the first/second 4hr candle after initiating the trade depending on if the trade is in profit or not. I then move the rest to Breakeven and take it off where I see fit. That way my money is not stuck in one trade.

(plan modified update)
Only looking at Majors now
Initial target 8-16hrs

I've added the account to trade explorer so anyone can see what I am doing.

Updates: Weekly summaries
Week 1 1.8%
Week 2 8.43%

Last Friday

Partial close
USDCAD Short +29.5
GBPUSD Long +9.9

Closed rest today

USDCAD Short +116.8
GBPUSD Long +91.6

Total 255.9 Pips

Today current trades

AUDCHF Short 0.94900
Currently -18 pips

sold USDJPY 79.41
AUDCHF looks like its going to stop me out. currently -41
Note to self: maybe look to close trade if price closes above my trendline (will go over this this weekend)

Had some issues with my entries but realized too late.

AUDCHF -50.3
USDJPY -11.3

loss for the day -61.6 pips

currently short GBPCHF, USDCHF
Long GBPUSD

Closed partially and at be.
USDCHF 14.9 pips
GBPCHF 12.7 pips
GBPUSD hasnt moved enough yet so profit not taken
price may retrace and take me out but I can enter again after 4 hrs.

GBPCHF, USDCHF rest stopped out at be

Currently in GBPUSD -14 pips

Longed EURUSD AUDUSD
Shorted USDCHF
Still in GBPUSD Almost hit my stop now 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.

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 seems sexy.

Remember to take what the market gives. Price will always come back and you can re-enter

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

rest at be.

Rest of AUDUSD was stopped out at be.
did a stupid trade going down to 1hr. lost against my rules (note: for weekend review)

Initiated 2 new trades
EURUSD Long
USDCHF Short

Time for bed. Will check tomorrow morning on the trades. 8 hrs later

Still in previous gu half.


Total pip count for the day: 102.9 pips

closed half of
USDCHF 17.7 pips
EURUSD 28 pips

Rest stopped out at BE EU & UCHF
Still in GBPUSD
Entered short again USDCHF

Took half off usdchf 23.7 pips and moved to BE
still in GBPUSD currently 77 pips

Waited half an hour extra before entering because of major news release.
Entered USDCAD Short

Still in
USDCHF 47 pips
GBPUSD 70 pips

Now going to relax and come back in 4hrs The beauty of trading 4hrs chart

Current open positions:

Partial positons at BE
USDCHF Short
GBPUSD Long (this one is from yesterday)

Full position
USDCAD Short

Total pip count for closed positons today: 70.1 pips

Woke this morning to see my gbpusd trade which was up +70 pips yesterday hade taken me out on breakeven+ 2 pips hahahahhaha. Lesson learnt.
Take what the market gives.
From now am using a trailing stop after my initial profit is taken.

USDCAD Trade. -34.4 pips. (interesting enough I failed to see that the market and my system was telling me the price is long.) It's really easy to see it now but what happens when I was trading on the right edge of the chart? Noting this down for overview during the weekend.

Seeing the previous I moved my stop on my USDCHF trade and locked in 45 pips.

Initiated 3 trades this morning
EURCAD Short
EURAUD Short
GBPCHF Long
will check back in 4 hrs

rest of USDCHF stopped out for 45.4 pips
Took half off
EURCAD 5.7 pips
EURAUD 9.9 pips
moved them to Breakeven
GBPCHF still not in profit so couldnt move stops.

Entered new trade GBPUSD Long

Rest of EURCAD EURAUD stopped out at BE

GBPUSD stopped out -53.7 pips for a loss. (note to self: Trades entered during the asian session seem to be useless as price retraces almost completley. Revise weekend plan not to enter before london maybe?)

Entered
EURAUD EUCAD Short
Still in GBPCHF