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Tips for Trading Forex Using Only the Daily and Five Minute Charts

Daily Charts in my opinion are much better. They have less noise and you can find high probability trade setups on these charts that can make you hundred of pips per trade. The good thing, you won’t need to monitor the daily chart like the five minute charts. Daily charts are ideal for end of day trading.

Uniqueness of Foreign Currency Market

The foreign currency exchange market offers a common platform for deciding the currency rates of various countries and also provides a trading platform in which investors can buy and sell currencies. The currency conversion exchange function throughout a day and it is open, except on weekends.

Understanding Currency Exchange Calculator

Most of the people who are new to the world of Forex trading will often have doubts about the currency convertors. Different countries have different currencies and a currency is often unique to that particular nation.

Taking Optimum Risks

Trading using Forex should be done with proper care and precaution. The right decisions should be made and at the right time to reap the best offers. A slight false step can result in big disasters and heavy losses have to be faced.

Tips for Trading in Minor Currency Pairs in the Forex Market

So, you pay this 1 pips to the broker when you enter the market and this is your trading cost. But, most of the minor currency pairs have spread that might range between 10 to 20 pips. Compare that high spread with that on the major pairs that have spread that range between 1-3 pips.

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