The daily chart gives us the most pertinent view of the market in my opinion, so if you are not focusing mainly on the daily chart, you are probably spending too much time on other less-pertinent market variables that are only going to confuse you and cause you to enter trades that are based more on “guessing” than on sound price action trading logic of the daily chart. • Trading inconsistently – If you are confusing yourself by focusing on many different time frames and not focusing on the daily charts as your main time frame, you are very likely getting inconsistent trading results, at best. Trading daily charts that close at 5pm New York time is important because this marks the end of the current Forex trading day and the start of the new trading day as New Zealand trading opens.