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Live Traders -What time frame is your charting on?

  • #1
  • First Post: Sep 25, 2007 11:35am Sep 25, 2007 11:35am
So two of my demo accounts (FXDD & IBFX both in the US) have the MT4 platform which i appreciate for charting. They both have their own time frame, i believe FXDD's daily candle starts at 5pm est and IBFX is 8pm est. Using the same system on both i was amazed to see totally different signals, when comparing Mouteki/TD trend lines for example there was hundreds of pips in difference where they were drawn on certain occasions.

This leads me to wonder if there is a standard in time frames in the trading world here in North America? It may not matter to some however to my daily system it does matter. To my knowledge a trading day in the US closes with the NY session at 5pm EST. So for trading a daily system it would seem logical to stick with daily candles that closes at 5pm. Any traders that use daily candles wish to voice their opinion?
  • #2
  • Sep 25, 2007 11:58am Sep 25, 2007 11:58am
Quoting saskgui
So two of my demo accounts (FXDD & IBFX both in the US) have the MT4 platform which i appreciate for charting. They both have their own time frame, i believe FXDD's daily candle starts at 5pm est and IBFX is 8pm est. Using the same system on both i was amazed to see totally different signals, when comparing Mouteki/TD trend lines for example there was hundreds of pips in difference where they were drawn on certain occasions.

This leads me to wonder if there is a standard in time frames in the trading world here in North America? It may not matter to some however to my daily system it does matter. To my knowledge a trading day in the US closes with the NY session at 5pm EST. So for trading a daily system it would seem logical to stick with daily candles that closes at 5pm. Any traders that use daily candles wish to voice their opinion?

I heard GMT (IBFX has that) is most common, I however also use another feed which closes an hour earlier (Windsor Direct). So I get at least two ways of lookin at things.

If I'm really bored I also have two other feeds to complete the 4 variants.

Trust me, you think this is a big deal initially, but at some point you just shrug...I'm fine with having at least two feeds, but if you're really paranoid just take 4 and choose the best looking setup
Trust price. Know yourself.
  • #3
  • Sep 25, 2007 12:33pm Sep 25, 2007 12:33pm
Quoting saskgui
So two of my demo accounts (FXDD & IBFX both in the US) have the MT4 platform which i appreciate for charting. They both have their own time frame, i believe FXDD's daily candle starts at 5pm est and IBFX is 8pm est. Using the same system on both i was amazed to see totally different signals, when comparing Mouteki/TD trend lines for example there was hundreds of pips in difference where they were drawn on certain occasions.

This leads me to wonder if there is a standard in time frames in the trading world here in North America? It may not matter to some however to my daily system it does matter. To my knowledge a trading day in the US closes with the NY session at 5pm EST. So for trading a daily system it would seem logical to stick with daily candles that closes at 5pm. Any traders that use daily candles wish to voice their opinion?
There is no single or simple answer to this question; a lot has to do with your 'style' of trading and what are your goals. I primarily trade Daily charts and want a new Daily candle at 5 PM ET, so I use a data feed from FXDD. But I also have three others available for consulting, providing me a new Daily at 6,7 & 8 PM, should I choose to "take a look". This comes in handy most often when working from a 4 hour chart.

If you have observed a large difference when using your trading strategy combined with different broker feed times, why wouldn't you use the one that provides the best profit opportunities? I would...........
  • #4
  • Last Post: Sep 26, 2007 8:42am Sep 26, 2007 8:42am
You just gotta love the "unlimited freedom" of forex. Thx for your opinons.
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