I read somewhere that in order to be successful at forex, you have to be a part-time trader and a full-time backtester.
Seriously. It’s acceptable to trade off the 4H, daily and weekly charts. Your biggest timesink should be backtesting and system development. That’s like Michael Jordan shooting 10,000 hoops during his spare time. Trading is when you’re playing live at an NBA game. That will only constitute a fraction of your time. Every other minute “should” be spent on backtesting / system development or something trade-related.
I usually devote 20 minutes per day checking the markets on the daily timeframe. That’s not much at all. I also work. Outside of work, I try to sink in at least 3-4 hours on backtesting or something related. That’s per day. On my days off, maybe 6-8 hours.
edit: This is what worked for me. What works for you may be different. Perhaps daytrading or scalping may suit you.