Back at it again.....
That is basically the concept behind my trading.
I trade either the 4HR or D1 charts by rule, but will bypass any 4HR bar trade for an equal or nicer looking trade set-up on the daily chart.
In my opinion, if it takes more than 8 minutes to scan your charts, locate a set-up, set the trap, or modify an open trade your system is either too difficult, you are trading too many pairs, or you are trading too many time frames.
I am trading the following pairs: eurusd, gbpusd, eurjpy, gbpjpy, gbpaud, euraud, eurnzd, gbpaud, gbpnzd, audjpy, audusd, and gbpcad
I like to keep my stop loss probably tighter than it should be. As such I have a program that will re-enter a trade that got stopped out, if price goes back to the original entry point after hitting the stop loss that was set when the trade was opened.
I can confidently let any "set" trap, or open trade remain as is until the close of the bar without stress on my part.
"Keep your eyes on the helpers" - Mr. Rogers