Currency Day TradingOur discussion of currency day trading will deal with the currency pairs traded on the foreign exchange market or forex. The four most popular currency pairs are the euro/dollar (EUR/USD), British pound/dollar (GBP/USD), dollar/Japanese yen (USD/JPY), and dollar/Swiss franc (USD/CHF). Since these major currencies will have the tightest point spreads, usually three to four pips, it is best to concentrate on these markets for profitable trades. The fact that these markets are open 24 hours a day are both a blessing and a curse for the short term day trader, depending on where one lives. The majority of the trading volume usually takes place during the London session which occurs between 2am CST and 10am CST, with the New York session between 7am CST and 2pm CST coming in second in terms of volume. The Asian session from 7pm CST to 2am CST is usually the quietest of the three in terms of volatility. We can use HLDayTrader to take short term scalps in the Forex. 
Short term traders who only have a limited window of time to trade can use the oscillator and short term momentum indicator, HLDayTrigger, as a stand alone indicator to enter and exit quick, scalping trades. This method works best when there is no strong trend present and the market is moving within a envelope, or trading range. After entry, look to exit when the oscillator moves to the opposite side of the OB/OS area for a quick scalping trade.
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