Trading Dailies, 1HR a day? | Forex Factory

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Trading Dailies, 1HR a day?

  • #1
  • First Post: May 10, 2016 9:35am May 10, 2016 9:35am
I've been trading 1HR and 4HR charts for a while now but considering moving to daily charts as I do still work full time and it's getting harder to even check every 4 hours due to changes and less freedom at work and I'm still not making enough money trading to trade full time...

I have a strategy for trading dailies that is entirely order based. It requires about 30 mins to one hour a night to set orders, manage stops, targets and draw on charts etc. Only thing is it doesn't really feel like much work and I''m finding that hard to accept.

Curious to see people who trade daily charts, how much time on average do you spend looking at your charts?

Thanks
  • #2
  • May 19, 2016 2:13am May 19, 2016 2:13am
Although the type of trading style impacts the choice of time-frames to some degree, it is worth highlighting the differences and nuances of the individual time-frames explicitly to enable traders to make a conscious decision about which time-frame to use for their trading based on their objectives, personal needs, and character traits.
  • #3
  • May 19, 2016 6:13am May 19, 2016 6:13am
Interested to hear your views.
I have eliminated all time frames under 4H from my MT4 charts.
Without having an understanding of down, you can never appreciate up.
  • #4
  • May 19, 2016 7:24am May 19, 2016 7:24am
Quoting Revorocks
Curious to see people who trade daily charts, how much time on average do you spend looking at your charts?
Less than 5 minutes a day.
  • #5
  • May 19, 2016 7:34am May 19, 2016 7:34am
Quoting Atokys
{quote} Less than 5 minutes a day.
Except those times you get artistic and spend hours looking for brontosauruses, sharks and pickatchu's
  • #6
  • May 19, 2016 7:58am May 19, 2016 7:58am
Quoting Copernicus
Except those times you get artistic and spend hours looking for brontosauruses, sharks and pickatchu's
ROFL
  • #7
  • May 19, 2016 8:04am May 19, 2016 8:04am
Quoting Atokys
{quote} ROFL
PS I was intensely impressed with those fine works of art. Between you and me it must have taken ages to craft with the limited drawing capabilities of the PC. :-)
  • #8
  • May 19, 2016 10:54am May 19, 2016 10:54am
Quoting Atokys
{quote} Less than 5 minutes a day.
Very concise, thank you
  • #9
  • May 19, 2016 10:46pm May 19, 2016 10:46pm
if you can set and forget your tomorrow trades based on the end of day data, then you can automate the process.
Once the EA is done, time to trade?

Zero...

more time to paint.
" check out The Traders Outpost "
  • #10
  • May 20, 2016 12:18am May 20, 2016 12:18am
My way.
No charts under 4H on my platform.
Just takes a few min's per day to move the SL's.
Attached Image (click to enlarge)
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Without having an understanding of down, you can never appreciate up.
  • #11
  • May 20, 2016 2:22am May 20, 2016 2:22am
Quoting anonymousey
My way. No charts under 4H on my platform. Just takes a few min's per day to move the SL's. {image}
Around 95% of Forex traders are failures. !!!!!!!!!!!
Stands to reason why. 99% are DAY traders.
Forex traders are conditioned to be day traders, therefore conditioned to fail.
Without having an understanding of down, you can never appreciate up.
  • #12
  • Jun 8, 2016 7:07am Jun 8, 2016 7:07am
Quoting anonymousey
{quote} Around 95% of Forex traders are failures. !!!!!!!!!!! Stands to reason why. 99% are DAY traders. Forex traders are conditioned to be day traders, therefore conditioned to fail.
Lack of interest in this thread makes the above statement glaringly obvious. No-one interested in money making systems. 99% sheep here on FF following losers & dreamers.
Without having an understanding of down, you can never appreciate up.
  • #13
  • Jun 8, 2016 7:58am Jun 8, 2016 7:58am
sorry for not responding to your post. Had a chaotic couple of weeks with family being in hospital, job interviews and legal problems so haven't touched on trading for some time.
Your system looks very similar to the one I have been using, HA candles etc

Looking at your trade explorer do you not feel ts a little volatile in terms of how fast your making gains. Surely if you can make money that fast you can also lose it?
  • #14
  • Last Post: Jun 8, 2016 9:33pm Jun 8, 2016 9:33pm
Quoting Revorocks
sorry for not responding to your post. Had a chaotic couple of weeks with family being in hospital, job interviews and legal problems so haven't touched on trading for some time. Your system looks very similar to the one I have been using, HA candles etc Looking at your trade explorer do you not feel ts a little volatile in terms of how fast your making gains. Surely if you can make money that fast you can also lose it?
If i was DAY trading. YES. It's easy to make money & even easier to lose it again. I gave up day trading some time ago. Now the smallest chart on my MT4 platform is the 4H.
Without having an understanding of down, you can never appreciate up.
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