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Quoting xxsskxx
{quote} Thanks, so just for my understanding... My IC Market broker is a GMT+2 broker, what should be the right basket start time for basket open? Taking into account the clock change / 1 hour back we went earlier in the month. 3 or 4?
I simply used the default of 3.

I also use IC Markets for my live account, and will probably move the EA across to it once I'm happy with the results, and will most likely use the defaults as the chart times are the same for both brokers.
"Pips are vanity. Profit is sanity."
Some of you keep mentioning GMT, but GMT time is not relevant as we are trading candles (broker time) not time zones.

Some of you might have brokers who use NY close as the EOD and some brokers don't, but it doesn't matter as we are trading the new daily candle which every broker has, now of course depending on your broker and data feed there might be some differences in which pairs are validated and that is completely normal.

My basket is still running and in a little DD, but its still early in the week and has plenty of time to come around.
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
Some of you keep mentioning GMT, but GMT time is not relevant as we are trading candles (broker time) not time zones. Some of you might have brokers who use NY close as the EOD and some brokers don't, but it doesn't matter as we are trading the new daily candle which every broker has, now of course depending on your broker and data feed there might be some differences in which pairs are validated and that is completely normal. My basket is still running and in a little DD, but its still early in the week and has plenty of time to come around.
Thanks, this answered another query that was niggling in my mind, on whether GMT actually mattered or not, thanks.

I will just simply stick to broker time regardless from now on.
Quoting mrdfx
Some of you keep mentioning GMT, but GMT time is not relevant as we are trading candles (broker time) not time zones. Some of you might have brokers who use NY close as the EOD and some brokers don't, but it doesn't matter as we are trading the new daily candle which every broker has, now of course depending on your broker and data feed there might be some differences in which pairs are validated and that is completely normal. My basket is still running and in a little DD, but its still early in the week and has plenty of time to come around.
I'm sorry, but GMT IS relevant.

Some (should I say "most"?) brokers are within 1 or two hours of GMT, so I agree that in these instances the offset should not make a huge difference - BUT there WILL be differences. However, a broker which has a server time of GMT+6, for example, would start their daily candle a good four to eight hours ahead of other brokers, making the EA open orders way too early.

So yes, people DO need to take their broker's GMT offset into account.
"Pips are vanity. Profit is sanity."
Quoting mrdfx
Some of you keep mentioning GMT, but GMT time is not relevant as we are trading candles (broker time) not time zones. Some of you might have brokers who use NY close as the EOD and some brokers don't, but it doesn't matter as we are trading the new daily candle which every broker has, now of course depending on your broker and data feed there might be some differences in which pairs are validated and that is completely normal. My basket is still running and in a little DD, but its still early in the week and has plenty of time to come around.
There is no way we are not gonna take GMT into consideration,there is no broker that does not observe day light savings... On my broker candle close has move from GMT to GMT+1
This strategy is not dependent on GMT and never has been. I am looking at candles only and specifically the first daily close of the week.

Whether the GMT is +1 or -1 or if the broker is GMT +2 or +3 I am still looking at the first daily close of the week. If a broker changes their EOD time due to daylight saving etc, I will still open at the same time (EOD time +3) even if GMT had to change cos I'm not looking at GMT when opening my orders only the brokers EOD time +3.

There is no debating this, feel free to adjust your open times according to GMT if you want, like I said in the beginning we can experiment on different open times as the EOD time +3 hour rules is not set in stone, that is what I'm using for now, but it could easily change if we find a better open time.
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
{quote} Guys I picked up a small bug with the lots per balance calculation. Please don't use it! Use ONLY fixed lots for now until I can get it sorted and release an update!
I had no trades open today, could this have been the issue?
Quoting mrdfx
This strategy is not dependent on GMT and never has been. I am looking at candles only and specifically the first daily close of the week. Whether the GMT is +1 or -1 or if the broker is GMT +2 or +3 I am still looking at the first daily close of the week. If a broker changes their EOD time due to daylight saving etc, I will still open at the same time (EOD time +3) even if GMT had to change cos I'm not looking at GMT when opening my orders only the brokers EOD time +3. There is no debating this, feel free to adjust your open times according to...
So you mean if our initial EOD +3 is 1am and day light savings now apply,we should still open our trades at 1am instead of 2am ?Am just asking for better understanding.
Quoting mrdfx
This strategy is not dependent on GMT and never has been. I am looking at candles only and specifically the first daily close of the week. Whether the GMT is +1 or -1 or if the broker is GMT +2 or +3 I am still looking at the first daily close of the week. If a broker changes their EOD time due to daylight saving etc, I will still open at the same time (EOD time +3) even if GMT had to change cos I'm not looking at GMT when opening my orders only the brokers EOD time +3. There is no debating this, feel free to adjust your open times according to...
Well, the strategy is dependent upon candles...candles are dependent upon the broker's EOD time...so timing CAN be important.

e.g.:
If a broker is GMT+2, then their daily candle closes at 22:00 GMT, so if the EA is set to open trades at 03:00, they will open at 01:00 GMT.
If a broker is GMT-2, then their daily candle closes at 02:00 GMT, so if the EA is set to open trades at 03:00, they will open at 05:00 GMT.

Unless I'm much mistaken, the disparity in the above scenarios mean that we cannot simply ignore GMT and use candles, because the results can, and will, be wildly different, depending on broker offset. Hence, when someone asks me about my broker, I will often state the GMT offset so they can adjust their settings accordingly if they are on a different timezone. I'm simply trying to be helpful to others here.

Personally, my broker is GMT+2, so I'm comfortable (for now) using the default opening of 03:00, because by this time, the Daily candle will have opened and the first H4 candle will also be open (but not yet closed), but the higher timeframes of W1 and M1 will give the overarching trend.
"Pips are vanity. Profit is sanity."
According to my understanding of the rules, the candles of the time frames are the current candles. Current candles are not closed -- when people refer to the "close" price of the current candle that really means the current Ask price -- i.e. the most recent tick.

The only price that is carved in stone is the Open price -- this is the first tick of the specified time frame. And the arrival time of that first tick IS determined by the broker's server GMT time. The "Trend indicator_LuXingMod_AUD" shows the delta (i.e. difference) between the Open tick and the current tick. Since the Open tick will most likely be different for server's at different GMT times then the delta will also be different.

That is -- everyone's current tick (for all time frames) will probably be very close. However, the Open tick for server's at different GMT will be different. Hence, the delta between Open and Ask will be different. Hence, the colors could be different.

By the way -- the ticks for all time frames are EXACTLY the same -- with one exception, the Open tick. All time frames receive exactly the same tick data -- the only difference is that M15 is guaranteed a tick every 15 minutes, whereas H1 is guaranteed a tick every hour. All there are are ticks -- bars (and candles) are an artificial construct to compress data for our viewing pleasure. I wouldn't get so hung about about candles...

I think this is correct -- however, I'm wrong about 50% of the time...
i think the results should not be too different in long term. the main concept of this strategy says to wait for first daily close of the week... that's it. simply follow the rules and don't complicate it.
What about adding the "virtual basket" to this approach?
Quoting sheppy
Not to be negative by any means, but until it's figured out, I wouldn't want to trade it with real $
Thank you for your nonconstructive comment that added no value whatsoever to the thread.
Truth is like poetry. And most people f*cking hate poetry.
Quoting PaulDV
{quote} Well, the strategy is dependent upon candles...candles are dependent upon the broker's EOD time...so timing CAN be important. e.g.: If a broker is GMT+2, then their daily candle closes at 22:00 GMT, so if the EA is set to open trades at 03:00, they will open at 01:00 GMT. If a broker is GMT-2, then their daily candle closes at 02:00 GMT, so if the EA is set to open trades at 03:00, they will open at 05:00 GMT. Unless I'm much mistaken, the disparity in the above scenarios mean that we cannot simply ignore GMT and use candles, because the...
My broker uses NY close as EOD which is considered the market norm for the daily close (most brokers I think) which is currently GMT +2, however not all brokers use this as their EOD, so for those that are trading with brokers that have a different EOD time, and if they wanted to "trade the same" as me then they can adjust the open time in the EA settings.
Truth is like poetry. And most people f*cking hate poetry.
Quoting johnsmith2nd
{quote} I had no trades open today, could this have been the issue?
Not sure why it did not open for you but the lots per balance bug would not have affected the EA operation in opening trades.
Truth is like poetry. And most people f*cking hate poetry.
Quoting bojack34
What about adding the "virtual basket" to this approach?
Well you know I'm a fan of using VB and I think it could work, just need to figure out how to apply it to the EA.
Truth is like poetry. And most people f*cking hate poetry.
Quoting mrdfx
{quote} Well you know I'm a fan of using VB and I think it could work, just need to figure out how to apply it to the EA.
Well, this strategy is basically the same as CCFp strategy so you might as well use it the same way. I too am a fan of the VB.
10% SL Hit
10 Trades opened
Lot size 0.01/200
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Quoting ppwest
10% SL Hit 10 Trades opened Lot size 0.01/200 {image}
mine still on and in profit.
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