Is It Possible To Earn On Currency By Trading A Few Minutes A Day?

Most novice forex traders are hesitant to devote all their time to working on the currency exchange, and these fears are quite understandable. As a result, it is necessary to combine the main activity, which, as a rule, takes the whole day, with trading, which, in turn, remains mainly in the evening hours and minutes.

In this article, we will talk about how realistic it is to combine the main work with trading so that it takes several minutes to conclude transactions. And in general, can such an approach guarantee more or less decent earnings. In principle, such tactics have the right to life, but for its implementation on Forex, you will need to follow well-defined rules, especially if we are talking about interesting currency pairs like EUR/NZD.

Competent selection of tactics and strategy

The first important point is the selection of a strategy that will allow you to work not only after returning from service, but also to do it rarely, and also with minimal time losses. To achieve this goal, it seems optimal to trade on daily charts with minimal timeframes, one, five, fifteen, and if you have free time, even thirty minutes. Of course, this approach requires maximum mental focus for a short time period and is characterized by a high level of emotional stress.

At the initial stage, the bet sizes can be small. At the same time, it is important not to forget about the rules of management. As the deposit grows, you will increase the profit from each closed transaction, and the amount of funds that can be earned in a few minutes will also increase.

There is a whole group of strategies, systems, patterns, indicators and advisors designed to work on short timeframes. It is recommended to pay the main attention to the study of this direction, developing the optimal approach for working in the market. An approach that allows you to get the most out of the time that you personally can devote to Forex.

High volatility is the key to success

In addition to choosing a successful strategy and competent tactical planning of actions, it is recommended to spend those very few minutes a day precisely at those moments when the market as a whole and individual currency pairs in particular are characterized by the highest level of volatility.

The first important period consists of 2 components:

  1. European trading session.
  2. London session.

The second period of potentially high volatility is the US session. During the operation of financial exchanges in Chicago and New York, there is an increased activity of large market entities that implement various strategic and tactical ideas. The period with the most active volatility is the time when the European and American sessions overlap.

In addition to sessions, it is recommended to pay attention to currency pairs with the highest level of volatility: GBR/CHF, GBR/USD, GBR/JPY, USD/CHF. In some cases, the range for these pairs can reach 100 or more points. And the high level of activity is explained by the direct connection with the US dollar.