I use the H1/H4 TFs as my bellwether and strategy is to look for setups on the M15 TF and enter on the M1 TF, which therefore allows for very tight stop. Sometimes I get stopped out quick at BE but overall, I have made more pips and reduced losing trades to less than 10% which is my goal and money management style. I believe that if we protect capital, we will be here to trade another day. If I get stopped out and the setup is still intact, I re-enter the trade.
I don't need to trade every day as a 25 pips daily average on a full size account should pay the bill. Remember, slow and steady wins the race - we are not competing against anybody but ourselves. Think about it. The day I realized I did not need to trade daily was the day I started making consistent pips in the market. I wait for my specific setup and trade it. If it is not there, I stand down as I know it may not be there every day but when it is, a 50 - 150 pips is possible, and therefore need only 7 - 10 days of a good setup to make my monthly target. So why the stress or getting emotionally charged with every trade!!!
I hope this helps one trader out there.
Shalom, and God bless
George
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