Is it okay to only watch your videos and practise an exam kit before I sit the P4 exam excluding the usage of a study text? Any tactics of studying P4?
Yes (although the more reading you to the better). A lot of P4 is revision of F9, so if you come to something that you realise you are unsure about then also watch the F9 lectures on that topic.
Do make sure you leave time to work through all of the questions in your exam/revision kit – attempt them first without looking at the answers, and then learn from your mistakes.
Also, do read the technical articles on the ACCA website.
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