Easy Forex

The Forex markets are open24-hrs a day during most of the week, allowing forex traders ahuge flexibility to enter their trades. And as long as themarkets are open the prices will be constantly fluctuating ascan be easily seen by looking at the forex charts. And it'sthanks to this fluctuations that traders can have profitabletrades the whole day.

The charting software interprets the constantly changing pricesby dividing this data into various time intervals. For each ofthese intervals the chart will show you the open and closeprice, along with the high and low price during the interval.Most software packages will allow you to see this price data byclicking on the spot of the chart where you want to check thesevalues.

One very interesting feature of these forex charts is that theywill allow you to choose the time interval under which you willbe trading. You may look at charts with time intervals goingfrom 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 theamount of time you want to spend monitoring your trade. Forexample if you want to monitor the trade for only a few hoursyou should use the 15 min charts. If you would like to enter atrade that will last for an entire day then you should betteruse the 30 min charts. And if you want to have a trade thatstays open during days you should choose the 1 day charts.

Of course the lengths of the trades can vary, and the timeinterval you see is only a first approximation indicator of howlong your trade will stay open.

One more issue with the length of the intervals is how much youwill make, in average, per trade. The longer the interval themost profitable the trade will be compared with a shortinterval. But on the other hand shorter intervals allow for agreater number of trades that will compound and maybe surpassthe profitability of the longer intervals.