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Comments on Forex and Trade Intervals.
Comments on Forex and Trade Intervals.
by Adrian Pablo
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The Forex markets are open 24-hrs a day during most of the week,
allowing forex traders a huge flexibility to enter their trades.
And as long as the markets are open the prices will be
constantly fluctuating as can be easily seen by looking at the
forex charts. And it's thanks to this fluctuations that traders
can have profitable trades the whole day.
The charting software interprets the constantly changing prices
by dividing this data into various time intervals. For each of
these intervals the chart will show you the open and close
price, along with the high and low price during the interval.
Most software packages will allow you to see this price data by
clicking on the spot of the chart where you want to check these
values.
One very interesting feature of these forex charts is that they
will allow you to choose the time interval under which you will
be trading. You may look at charts with time intervals going
from ticks, 1 min, 5 min, 10 min, 15 min, 30 min and 1 day.
What of these time intervals you use will depend mostly on the
amount of time you want to spend monitoring
your trade. For
example if you want to monitor the trade for only a few hours
you should use the 15 min charts. If you would like to enter a
trade that will last for an entire day then you should better
use the 30 min charts. And if you want to have a trade that
stays open during days you should choose the 1 day charts.
Of course the lengths of the trades can vary, and the time
interval you see is only a first approximation indicator of how
long your trade will stay open.
One more issue with the length of the intervals is how much you
will make, in average, per trade. The longer the interval the
most profitable the trade will be compared with a short
interval. But on the other hand shorter intervals allow for a
greater number of trades that will compound and maybe surpass
the profitability of the longer intervals.
About the author:
Adrian Pablo is a freelance writer with articles published in a
number of places. Get a free report on Fibonacci Trading and
learn more about the world of trading , visit:
http://www.1-forex.com
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