Daily charts best time to review

[AlchemistX]

Yeah definitely. I like my trading style being daily charts. Only trade foor 20 minutes after the New York close. After years and years it has become very consistent and my draw downs are small and seem to happen when the market is quiet and breakouts aren't that strong. Sometimes the market is quiet and sometimes there are too many trades to trade. Sometimes I might be in only 1 trade others times to my maximum of 5 which is my limit based on my money management methods.

I spend a similar amount of time, maybe half an hour. I stick to the Majors, plus I'm very picky and my MM is quite conservative, so I don't take many trades in any given month. Most of the time it's just a leisurely half hour looking at the charts, watching day by day as setups slowly unfold. No danger of making snap decisions.

[Dominator4fx]

I spend a similar amount of time, maybe half an hour. I stick to the Majors, plus I'm very picky and my MM is quite conservative, so I don't take many trades in any given month. Most of the time it's just a leisurely half hour looking at the charts, watching day by day as setups slowly unfold. No danger of making snap decisions.

Trading with the Major currency pairs is always safe since if their is any trend reversals we can get to know about it in advance and then we can adjust the trades accordingly.


Trading with a setup of good principles of Money Management will make sure that we are not over exposed as far as the risks of the markets are considered.

[AlchemistX]

Trading with the Major currency pairs is always safe since if their is any trend reversals we can get to know about it in advance and then we can adjust the trades accordingly.

Also, trading the Majors gives you higher probability trades.

Trading with a setup of good principles of Money Management will make sure that we are not over exposed as far as the risks of the markets are considered.

I completely agree. % risked per trade and % overall risk. Get these right - and stick to them - and regardless of what happens in the market, you will live to fight another day.

[Dominator4fx]

Also, trading the Majors gives you higher probability trades.

The majors t hat i am trading in the order of their preference are:

1. EURUSD

2. AUDUSD

3. GBPUSD

4. NZDUSD

5. GBPJPY

[SimonTemplar]

The majors t hat i am trading in the order of their preference are:

1. EURUSD

2. AUDUSD

3. GBPUSD

4. NZDUSD

5. GBPJPY

But those aren't all Majors... Not trying to be smart, but unless I am seriously missing something contributors on here would not assume that you trade those Pairs when you say you trade only Majors. Although I could be missing some vital piece of prior correspondence, more than possible! Common parlance on here - and elsewhere - says that there are only four Majors, and you only have two of them on your list.

ST

[MeiHua]

The majors t hat i am trading in the order of their preference are:

1. EURUSD

2. AUDUSD

3. GBPUSD

4. NZDUSD

5. GBPJPY

I thought the majors were EUR/USD GBP/USD USD/CHF and USD/JPY. imho AUD/USD GBP/JPY and NZD/JPY are crosses or comdolls or however you want to name each particular subset but i wouldn't not consider them to be in the "majors"

[Leg0nd]

About the majors/minors... Why not have a few minors who manly stabilize your unrealized p&l plus give you a basis for your short term trades? If you do it right you can carry trade a few minors (I currently have 3 carries), gather a little interest (hopefully enough to cancel out some of your non bearing interest trades) and make consistent daily gains off the majors (I trade 5 majors simultaneously) just a neat little tip... I always trade my majors opposite direction of my carries (minors) so in the event my trades do bad, my carries go up and if my carries go down all my majors go up the goal being you want your carries to go down so that you continue to clear positive trades. This has been my current setup for a week or so. It works quite well so far!

On topic though, I like to check my daily chart 2-3 times a day. Around noon eastern time, 4 p.m. And after the Asian market opens... So around 8 p.m.

[AlchemistX]

The Majors:

EUR/USD
USD/JPY
GBP/USD
USD/CHF
USD/CAD
AUD/USD
NZD/USD

Source:

Currencies Are Traded in Pairs | What is Forex? | Learn Forex Trading

That should settle it.

[SimonTemplar]

The Majors:

EUR/USD
USD/JPY
GBP/USD
USD/CHF
USD/CAD
AUD/USD
NZD/USD

Source:

Currencies Are Traded in Pairs | What is Forex? | Learn Forex Trading

That should settle it.

Okay, I don't agree with that list, plus you had GBP/JPY on your original list which is not a Major; I stand by my view that there are only four Majors (a lot of people refer to USD/CAD, AUD/USD and NZD/USD as Minors).

So not so much settled as let's agree to disagree.

ST

(EDIT: sorry assumed that you were the original poster, so correction GBP/JPY was not on your original list, but rather Dominator4fx's list)

[AlchemistX]

Okay, I don't agree with that list, plus you had GBP/JPY on your original list which is not a Major; I stand by my view that there are only four Majors (a lot of people refer to USD/CAD, AUD/USD and NZD/USD as Minors).

So not so much settled as let's agree to disagree.

ST

(EDIT: sorry assumed that you were the original poster, so correction GBP/JPY was not on your original list, but rather Dominator4fx's list)

Sorry, I was being a bit facetious. Babypips got it wrong!

I know there is some disagreement as to which pairs are the Majors, and I think this stems from the definition of a Major pair ie. a Major currency crossed with the US Dollar. It seems that there are differing opinions on what constitutes a Major currency.

For the record:

EUR/USD
USD/JPY
GBP/USD
USD/CHF

In my opinion.