Hello to all,
Most of us are aware that a candle/bar close is dependent on where in the gmt timezone the broker's trading platform is located. I trade with Oanda and atm use ODL and FXPro for charting. The issue that I have which I think is true for a lot of traders that work or have tight schedules is finding a trading period where the closing of a candle/bar falls at a time that gives you the best chance to evaluate price action. Okay, let me give a example.... If you are trading with FXPro (gmt+3) your 8:00gmt 4hr/candle/bar which covers the last hour of the Tokyo Session and the first three hours of the London Session closes at 5am est.....but with ODL(gmt)the 4:00gmt 4hr/candle/bar closes at 4am est.
For those of us living in the Eastern Standard Time that want to trade the London Session and manage to squeeze as much sleep as possible this presents us with not only an issue with sleep but which candle/bar close gives us the best timing to enter a pinbar reversal or anyother pattern (for me is those taught by the James16 and Silent Service thread). A high probability pinbar with FXPro may turn out to be a weak one or not at all pinbar with ODL. I heard other point out that this is not so important and just trade what you see in your chart but I tend to disagree with this notion when you consider some of my point above. To me when trying to share and/or learn from others sometimes this issue makes it difficult to speak the "same chart language". Okay enough, my apologies if this has been discussed before ... it it has please point me to the posts that covered it. Otherwise I would really appreciate your perspective and opinions.
Thanks.
Most of us are aware that a candle/bar close is dependent on where in the gmt timezone the broker's trading platform is located. I trade with Oanda and atm use ODL and FXPro for charting. The issue that I have which I think is true for a lot of traders that work or have tight schedules is finding a trading period where the closing of a candle/bar falls at a time that gives you the best chance to evaluate price action. Okay, let me give a example.... If you are trading with FXPro (gmt+3) your 8:00gmt 4hr/candle/bar which covers the last hour of the Tokyo Session and the first three hours of the London Session closes at 5am est.....but with ODL(gmt)the 4:00gmt 4hr/candle/bar closes at 4am est.
For those of us living in the Eastern Standard Time that want to trade the London Session and manage to squeeze as much sleep as possible this presents us with not only an issue with sleep but which candle/bar close gives us the best timing to enter a pinbar reversal or anyother pattern (for me is those taught by the James16 and Silent Service thread). A high probability pinbar with FXPro may turn out to be a weak one or not at all pinbar with ODL. I heard other point out that this is not so important and just trade what you see in your chart but I tend to disagree with this notion when you consider some of my point above. To me when trying to share and/or learn from others sometimes this issue makes it difficult to speak the "same chart language". Okay enough, my apologies if this has been discussed before ... it it has please point me to the posts that covered it. Otherwise I would really appreciate your perspective and opinions.
Thanks.
Unus pro omnibus, omnes pro uno
