Hello pals… Can i use 4hr time frame to swing trades?? share your thoughts on this please, thanks.
You could use any TF for swing trading, but in practice 4hr downwards is better for intraday trading. Swing traders tend to use Daily, Weekly or Monthly TFs. No Nonsense FX suggests that the Daily TF is more profitable than any lower TFs.
Hi Steve, thanks for the reply, another question please, can i ise a 1:1 R/R and still be profitable with a high wining rate strategy?
I place my T/P before a zone where losing traders close their positions or get stopped out. I place a S/L where only a spike would hit it. IMO RRR should be consigned to the garbage bin as it’s useless.
So in other words RRR is useless in ur opinion,
You trade in accordance to market structures?
Yes I trend trade in accordance to market structure. My aim is to be on the right side of a trend trade from opening right through to where I place a T/P - which is critical. My strategy provides a continuing profit of around 55%.
So, first I look for a trend movement on my favoured FX pairs, then I look LEFT for a likely area on the Daily charts where there could be a next support and resistance level - pivot tables are good for this, so are PSAR balls set at 0.09 - 0.40.
Mostly, it’s a simple movement towards the S&R zone and my T/P before the level where losing traders close or get stopped out.- the one adverse issue is a spike caused by change in market sentiment. Therefore I give my S/L enough space NOT to get triggered by a minor retracement.
In which case, a few of my short-term trades risk slightly more than the 55% profit target. Which is because I have no control over what the market would throw at me - the same as every trader on the planet.
IMO, RRR is a hit and miss system, triggered only by an entry point and a random TP aligned to the S/L exposure. That’s why 85% lose out trying to manage it. Emotional challenges are always there.
Hope that helps.
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