JTrader
Have you come to realise, that you not making enough money for the hours you are putting in?
Trading off 1 or 4 hour charts would drive me nuts. Maybe its that, if so change you trading style to suit.
For me, i used to think like that, but now think the polar opposite.
I now am of the opinion that lower TF scalping etc. - chasing the odd pip here & the odd few pips there - will get you so far. If you can get to grips with it, it is an excellent way to compound quickly.
However, IMO, to progress to the next stages (eg. beyond where getting filled automatically at £10 per pip with WS etc. is still an issue, & making maybe 70 pips profit per week on cable/EURUSD if you successfully manage to dodge the news releases well enough), increasing TF & gaining a longer term perspective on direction, in order to bag many more pips, with less man hours involved is the more sensible approach, with longer term sustainability, & longer term big profit potential.
Ditching the M5-M15-M30 charts, and the PG tips style screen-monkey outfit & gaining some
DISTANCE = PERSPECTIVE by zooming out to the longer term TF's, starting smaller, but compounding just as easily & effectively as if scalping, as the profits roll in, trading a manageable multi-number of instruments all at once, & maybe make 5 times the number of pips per week.
Once you start compounding profits, you reach a point your £ profits natually become bigger, and the actual number of work hours is smaller. Many successful eg. EOD traders for example will back this up.
Having said all that, i do have a few M15-M30 approaches that should enable me to achieve the 70 pips per week on average etc. to fall back on, despite still being affected by noise (though to a lesser extent than M5 obviously).
:whistling.
But anything below M15 that i've managed to come up with - yes works brilliantly at times, but requires too much effort/concentration, & with inconsistency being the overall result due to non-highly significant
noisey/vibratory price movements.
Cheers.
