My response is in ITALIC
"Are you asking me about when is the best time to place trades on the daily timeframe is it ?"
since you brought it up, i am open to hearing your thoughts on that.
Intraday trading: London, London and London. Highest volumes, most action. (Read the Minimum requirements at the start of the thread, start on the daily's)
Trading from the Daily's : What I do is I check my charts when my Daily's close, then just put the orders on. It doesn't matter to me when the order is activated ie it can be activated in Asian or London session that doesn't matter when you are trading the Daily's.
i was wrong on my original assumption. i thought the lower time frames would make the bigger difference. but when i think about it now there would be no difference on the 1h or below ("a-duh") . so when we go up from there is when we start to see the differences.
now i am just curious as to whether there is a preference between the gmt or the est time zone feeds when it comes to trading in this way?
I honestly don't know what you are getting at here, there are no "specific" est or gmt time zone feeds. If I was using the intellicharts package that you have my candles would close at 9PM GMT (I think) We would be looking at the same candle, at the same time. ACTUALLY you may be talking about your "Broker Time" being different from the timezone in your area, yeah that happens, but just because your broker time is different than your own timezone, it doesn't mean anything
i have only demo'd w/ mbt & their charting package is intellicharts. their daily opens/closes at 4 pm est. i dont care for their charts at all. after i get more comfortable trading this way & get closer to going live (ive been studying forex for a year & still feel i am not ready yet), then it will be time to pick my broker/platform. i would love for everyone to chime in on who they use &/or like the best/worse. as of now since the boss uses tradestation i am leaning towards checking them out first. also of importance, who is the best/worse at giving you your profits/money when you want them?
Here is a great article on forex brokers that you simply MUST read if you have not already - http://www.forexfactory.com/showthread.php?t=7484. People have their own preferences, Im with Alpari UK and there was no problems with them paying out. It's best to ask it in the Broker Discussion area of FF, Tradestation is the rolls royce of charting packages, but it isn't free. Metatrader is what most people use, and I would personally recommend it.
another thought i just had...is it wiser to open a "futures" acct instead of a "forex" one for cftc & taxation purposes? even though the acct would be labeled a "futures" one i'd still only want to trade the forex. i just cant seem to grasp the futures market w/ all the different months & their ticker symbols & i dont want to deal w/ margins & holding a position overnight. anyway...ill shut up now. it is nice to be hear & ill never stop thanking you all.
I know nothing about this as I am not American
"Are you asking me about when is the best time to place trades on the daily timeframe is it ?"
since you brought it up, i am open to hearing your thoughts on that.
Intraday trading: London, London and London. Highest volumes, most action. (Read the Minimum requirements at the start of the thread, start on the daily's)
Trading from the Daily's : What I do is I check my charts when my Daily's close, then just put the orders on. It doesn't matter to me when the order is activated ie it can be activated in Asian or London session that doesn't matter when you are trading the Daily's.
i was wrong on my original assumption. i thought the lower time frames would make the bigger difference. but when i think about it now there would be no difference on the 1h or below ("a-duh") . so when we go up from there is when we start to see the differences.
now i am just curious as to whether there is a preference between the gmt or the est time zone feeds when it comes to trading in this way?
I honestly don't know what you are getting at here, there are no "specific" est or gmt time zone feeds. If I was using the intellicharts package that you have my candles would close at 9PM GMT (I think) We would be looking at the same candle, at the same time. ACTUALLY you may be talking about your "Broker Time" being different from the timezone in your area, yeah that happens, but just because your broker time is different than your own timezone, it doesn't mean anything
i have only demo'd w/ mbt & their charting package is intellicharts. their daily opens/closes at 4 pm est. i dont care for their charts at all. after i get more comfortable trading this way & get closer to going live (ive been studying forex for a year & still feel i am not ready yet), then it will be time to pick my broker/platform. i would love for everyone to chime in on who they use &/or like the best/worse. as of now since the boss uses tradestation i am leaning towards checking them out first. also of importance, who is the best/worse at giving you your profits/money when you want them?
Here is a great article on forex brokers that you simply MUST read if you have not already - http://www.forexfactory.com/showthread.php?t=7484. People have their own preferences, Im with Alpari UK and there was no problems with them paying out. It's best to ask it in the Broker Discussion area of FF, Tradestation is the rolls royce of charting packages, but it isn't free. Metatrader is what most people use, and I would personally recommend it.
another thought i just had...is it wiser to open a "futures" acct instead of a "forex" one for cftc & taxation purposes? even though the acct would be labeled a "futures" one i'd still only want to trade the forex. i just cant seem to grasp the futures market w/ all the different months & their ticker symbols & i dont want to deal w/ margins & holding a position overnight. anyway...ill shut up now. it is nice to be hear & ill never stop thanking you all.
I know nothing about this as I am not American