Colyn James Luchterhand

I trade and teach others to trade using simple price action principles on the 4H and 1D timeframes, primarily as swing trades. My trades can take several days to open and close. I usually take 3 trades per position at various profit levels, but a single stop loss. I use limit entries based on my research, and trades are entered when they enter my pre-set trade zones. I then let trades run to TP1, then adjust my stoploss to prevent losses if the trade goes to TP1. In general, I will let the trade run to stoploss. I have already calculated my risk per trade (usually 3% or less per instrument), and I'm prepared to take the loss if it goes to the SL. Trading on the 4H and 1D timeframes will usually result in 80%+ winrates, but there are no guarantees.

I am trading on a new prop firm account with 25K USD. This particular account just got started, but has already realized gains, and currently has trades active. I tend to trade major and minor forex pairs, and will occasionally take metals trades and some indices when it looks like a good setup. I don't dabble in altcoins/crypto, and only take exotic forex pairs occasionally if I see that the setup looks like it's going to be favorable. I will sometimes go days without seeing trades I feel will meet my criteria. I'm very particular about entering a trade. I often check limit orders to see if those are still meeting my criteria. If you are the type of person who needs to sit in front of the computer or on your phone and dabble all day, you will not like my style. I wait for good setups, wait for the market to come to my limit, and I do very little adjustment in between other than making adjustments to lock in my profits after hitting TP1.

TP1 in usually 50% of my profit goal, TP2 is usually completing my 100% goal. TP3 is set at a much further target to catch breakouts. I sometimes close these at a profit, or I let them hit my break even SL, but I usually let them run to see if they will hit TP3. This will sometimes double or triple my profit without risk of loss after adjusting stop loss to breakeven when TP1 hits.

If you are trading real money on with signals from me, you are going to want to have at least $1K in your account for taking 1D swing trades. There may be times when you have to adjust your lot size to take the trade depending on the instrument/pair the signal is for if you have a smaller account. I would not mix other signals with mine if you have a small account size. 1D swing trades can have some larger drawdowns before they swing toward TP1. If you have a bunch of smaller short trades active and a 1D trade enters a drawdown period, you may receive a margin call from your broker, even if you haven't touched the SL for the trade. Double check your spreads before you enter one of these trades. Some minors and exotics, along with some indices have very different spreads among brokers. Take all of that risk to heart when you place these signal trades. What is good for me, may not be good for your account size or with your broker. Your broker may not even have some of the instruments I am trading.

To sum things up, I've been trading for several years and have paid thousands of dollars on courses, mentors, and to the school of hard knocks. What I found is that simple price action high time frame trading tends to have the highest win rates consistently, and usually has a better risk to reward ratio. This is what you will find if you follow my trades. If I decide to sit in front of my computer all day, I may take the occasional 1H or 15M trade, but that is rare. I generally have better things to do with my time than sit in front of the computer all day. I check a few times a day to see if there are setups I like, and to see if my limit orders are still valid. Otherwise, I trust my system to work for me. Simple and un-sexy is best, no matter what some guru tells you.

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