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7 Reasons to Trade Four Hour Charts

Trading the four hour charts have some distinct advantages. Learn what they are in this post.

Home / Technical Analysis Tutorials / 7 Reasons to Trade Four Hour Charts

Trade to travel

In my travels to Poland and Estonia, there is one thing that was abundantly clear.  To get the full experience at a location, I could not be sitting in front of a screen trading for 6 hours a day.

This got me thinking about how it would be great to also have some 4 hour chart strategies that would still have excellent risk reward ratios, but would be trades that I would only have to check once or twice a day.  In addition, Metatrader 4 alerts could also be a big help in detaching me from the computer screen.

Although trades based off the 4 hour charts would probably have larger stops, the rewards could be as follows:

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  1. Larger profit potential.
  2. Trade entry time is not so critical.  I would not have to get into a trade right away, there would be more room for error.
  3. Trading a longer time frame would give me more time to do other things I love to do.
  4. Backtesting is easier because there would be fewer setups per time period.
  5. Since I could test more pairs, I could also trade more pairs, providing more opportunities.
  6. Once I master a profitable strategy, I could teach it to people with day jobs.
  7. It would allow me to practice patience and not trading for the sake of trading.

My only apprehension is that I have been known to get antsy in the past when trading a four hour strategy.   Anyway, those were just some thoughts that I had on my trip.

I will probably hold off for now, but a four hour trading strategy or two can definitely have a place in a trader's arsenal.

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Category: Technical Analysis Tutorials

About Hugh Kimura

Hi, I'm Hugh. I'm an independent trader, educator and international speaker. I help traders develop their trading psychology and trading strategies. Learn more about me here.

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First posted: May 23, 2011
Last updated: May 17, 2020

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CFTC Rules 4.41 - Hypothetical or Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, because the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Testimonials appearing may not be representative of other clients or customers and is not a guarantee of future performance or success.

 

 

 

 

 

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