If you like to trade the forex markets you might want to learn how to swing trade the different currency pairs. There are several good reasons to swing trade rather then daytrading the FX markets. Swing trading is less time consuming and takes a great deal of the pressure off you.Trying to daytrade the forex markets is stressful especially with all the chopping and wild swings in the markets around news times. It is much easier to spot uptrends and down trends on longer time frames. Daytrading usually involves short time frames under 5 minutes.

  Forex daytraders will set their charts to 1 minute and even 30 second time intervals to make a trade. If you are not experienced at this it can cost you stress and cash on making bad trades. You need to be totally experienced on reading candle stick and tick charts to do this type of FX trading. You would need to look at what you want your end results to be and if you can take the stress of day trading. You need to ask yourself if you have the mental state to be a forex day trader. There are many negative factors that need to be taken into consideration to daytrade.

 If you are swing trading the currency markets you can use longer time frames on your charts. Charts can be set at 3 hour up to a day. This will allow you to find better entry points. You can look for the support and resistance areas and make your trades from these. On longer time periods it is much easier to see what trend is in place. Most forex brokers will allow you to have several different charts running at the same time. Set up a couple charts with a long term time and one short term. You can lower the risk of loss and set your stop losses by using this plan.

  Another advantage of swing trading is that it gives you time to plan your trades. This will keep emotions out and let you set your trades according to your trading plan. You will be able to see where the markets are heading and avoid taking large losses that can happen when daytrading. You will be able to see where the volume of trades and at what time they occur. Normally higher trading volumes happen around news times then the markets will settle back down. Unless the news is extremely good or bad the forex markets will return to the original trend they were in before the news.