moonchild
VIP Contributor
If you're day trading the forex market it is important to choose pairs that are volatile and move aggressively because if you want to make money you'll have to need volume in your pairs, in this short article we'll be looking at how to approach scanning of pairs to pick up the best and make the most out of them.
The number one tool to use is an ATR, it helps you to calculate the average daily range of a pair, so you get to see how many pips it moves daily and also how volatile it is, you can use the indicator by going to the indicator tab on mt5 and then clicking it to add on your screen.
Open up all the pairs on your broker and see the number of their ATRs and choose your pairs from their.
You should also pay attention to the trend is it up or down or the market is consolidating, that'll help you too.
The number one tool to use is an ATR, it helps you to calculate the average daily range of a pair, so you get to see how many pips it moves daily and also how volatile it is, you can use the indicator by going to the indicator tab on mt5 and then clicking it to add on your screen.
Open up all the pairs on your broker and see the number of their ATRs and choose your pairs from their.
You should also pay attention to the trend is it up or down or the market is consolidating, that'll help you too.