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Expert Advisor help with "start of day"

  • #1
  • First Post: Sep 3, 2013 8:16pm Sep 3, 2013 8:16pm
Hi all.
I wonder if someone may give me some advice?
I have been trading FX for around 5 years with IG Markets. I have recently switched to Axi Trader because I decided to develop my own EA's and needed metatrader.
The development side was easy...the programming not so easy so had one professionally programmed.
It works of 4H and Daily time frame.
Here's the issue...the daily trades won't open and comes back with an error message because Axi Trader don't allow trading in the first 5 minutes of the day due to what can sometimes be massive spreads whilst the market settles. Don't have an issue with that and it makes sense however a) is that the same with all metatrader brokers? b) how can it be over come?
My programmer says that he has programmed the EA that if conditions are right the EA will trade after 5 minutes. This isn't happening.
So is it a programming issue or a Axi Trader issue?
The 4H works perfectly so it is just something about that first 5 minutes of the daily.

any help/advise is much appreciated
  • #2
  • Sep 4, 2013 2:36am Sep 4, 2013 2:36am
Quoting debono
Hi all. I wonder if someone may give me some advice? I have been trading FX for around 5 years with IG Markets. I have recently switched to Axi Trader because I decided to develop my own EA's and needed metatrader. The development side was easy...the programming not so easy so had one professionally programmed. It works of 4H and Daily time frame. Here's the issue...the daily trades won't open and comes back with an error message because Axi Trader don't allow trading in the first 5 minutes of the day due to what can sometimes be massive spreads...
Forex is 24/5 so the only start of day you might have an issue with is when the market opens after the weekend.
20 pips a day isn't too much to ask . . .
  • #3
  • Sep 4, 2013 2:51am Sep 4, 2013 2:51am
Quoting RaptorUK
{quote} Forex is 24/5 so the only start of day you might have an issue with is when the market opens after the weekend.

Thanks for the reply RaptorUK
But no...the market has a start and finish every day. How else would you get daily candles?
I am not sure whether other brokers do the same?
Anyone trading with EA's using the Daily T/F?


AxiTrader closes the market between 00.00-00.05 on the platform to avoid clients being stopped out on the widened spreads that occur in the interbank market at the close of the trading day. At 00.00 traders in the US switch to electronic trading at the start of the Asian trading day, during this changeover the spreads in the market become excessive for a 5 minute period. In order to prevent our clients from being filled on bad spreads we close the market to ensure you aren’t affected by it. During this period you will not be able to open or close any positions as the market will not be open for trading on the platform.
  • #4
  • Sep 4, 2013 3:16am Sep 4, 2013 3:16am
Quoting debono
{quote} Thanks for the reply RaptorUK But no...the market has a start and finish every day. How else would you get daily candles? I am not sure whether other brokers do the same? Anyone trading with EA's using the Daily T/F? AxiTrader closes the market between 00.00-00.05 on the platform to avoid clients being stopped out on the widened spreads that occur in the interbank market at the close of the trading day. At 00.00 traders in the US switch to electronic trading at the start of the Asian trading day, during this changeover the spreads in...
yes you get daily candles and these cover different hours depending on your broker time, BUT the market is continuous Sunday night to Friday night....

Your broker MAY have a rollover process going on in their servers which is stopping the trades, the fact they told you it is because of wild spreads and the beginning of the day suggest to me that you spoke to a clueless idiot or that you should get a different broker. Their web site even says 24 hours a day....

If your EA is accounting for the 5 minutes but still trades are rejected then it maybe something wrong with the EA or the server side... you need to look at the detailed error messages to start the discovery.
  • #5
  • Sep 4, 2013 3:27am Sep 4, 2013 3:27am
Quoting debono
{quote} Thanks for the reply RaptorUK But no...the market has a start and finish every day. How else would you get daily candles?
You get daily candles because the day has a start and finish time, it's midnight . . . the market doesn't close and open except at the weekend. Are you suggesting the market opens and closes each minute so you can get M1 candles ? or every Hour so you can get H1 candles ?
20 pips a day isn't too much to ask . . .
  • #6
  • Sep 4, 2013 3:28am Sep 4, 2013 3:28am
Thanks Max...they say it is because of the interbank market. This is my first time experience trading an EA so it is new to me but I find it amazing that they are basically saying that a daily TF cannot be traded with an EA . My programmer has re programmed but it made no difference.
He said the below so I assume that it can be achieved but he may not have it quite correct atm. I was hoping some others here may have laso has a similar problem and could offer a solution. I guess not many trade EA's over the daily T/F though.
I very much appreciate the response and suggestions.

"Your broker disallowing trades during the first 5 minutes is not something that any EA can change.

However I modified your EA to run on every price tick instead of at the beginning of every bar so as soon as the 5 min period is over, if the conditions are right it will be able to trade after the 5 mins are up."
  • #7
  • Sep 4, 2013 3:36am Sep 4, 2013 3:36am
"Are you suggesting the market opens and closes each minute so you can get M1 candles ? or every Hour so you can get H1 candles ?"

define market? each tf is a market and its market segments are tradeable based upon that definition so technically yes the market for a one minute or any other time frame opens and closes with in that specified period.

one must close for the next to open.

The day must close for the new day to open. It is during the first 5 minutes of the new daily open that axi trader do not permit trading therefore the EA attempt to open a trade is rejected because their (axi trader) market is closed. My question is around whether a) other metatrader brokers do similar and b) whether others have experienced issues with EA';s that operate on a daily tf.

Not trying to be smart or split hairs about semantics and market definitions and do appreciate the response Raptor
  • #8
  • Last Post: Sep 4, 2013 3:51am Sep 4, 2013 3:51am
Quoting debono
"Are you suggesting the market opens and closes each minute so you can get M1 candles ? or every Hour so you can get H1 candles ?" define market? each tf is a market and its market segments are tradeable based upon that definition so technically yes the market for a one minute or any other time frame opens and closes with in that specified period. one must close for the next to open. The day must close for the new day to open. It is during the first 5 minutes of the new daily open that axi trader do not permit trading therefore the EA attempt...
OK, you are talking about Bars/Candles . . . not markets. I would suggest you find another Broker . . . not all Brokers have the same D1 bar though, differences in time zone mean that Brokers D1 bar start time (GMT/UTC) is not always the same. Timezone will also impact on H4 bars . . .
20 pips a day isn't too much to ask . . .
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