ok, lets try again...
i have received several inquiries that mention brokers that have different trading platforms opening times, some i have answered in this thread and others were pm's.
now i'm going to show by way of explanations and different sets of charts that it does not really matter...what matters is that you take the signal when it appears and enter how your strategy and method calls for... no 2nd guessing.
i am presenting 2 sets of 4hr charts each with the same fx pairs in the same order for better comparison of the bars. one can immediately see that the 4hr bars of the same fx pair differ widely, for example we may get a buy signal 2hrs earlier on one chart whereas the other may still be red.
does this early signal make a difference ?
yes it does bcz sometimes an entry may be at a better price, but at other times we may have a red bar right after that buy signal at one broker while the other that gave a later buy signal will have only up bar. so the red bar may throw some doubts as to the survival of the trade whereas the other broker that gave a later buy signal will not induce such doubts because there is no red bar.
so ? don't worry about, just trade the signals on your platform or open 2 trading accounts, one with a broker that utilises the Asian Open and the other with a broker that has a London Open, that way u can have the best of both worlds BUT still trade their signals separately. one can also use one to confirm the other but its not necessary.
the black charts are the Asian Open [AO] and the lighter charts have the London Open [LO], please take a moment to compare their 4hr bars and signals.
a few notes: EURAUD:
- on the AO chart,the buy entry is at 5590 (i entered a bit late as the tiny arrow shows)
- price rises a total of 5 up bars for a total of 485 pips before forming a red Topping Tail/Hanging Man.
- now look at the LO chart, the buy entry came at 5661 difference of 70 pips.
- then it rises for 4 bars for a total of 414 pips before forming a bearish engulfing red bar.
- how do i trade these if i have buys in both platforms ? as one can see from the AO charts i closed those trades but kept the LO trades.
PLEASE TAKE NOTE of the STOP LOSS placements, specifically on the LO charts. these SL's were entered at the time placing the trades.
EURCAD:
on the LO chart both the EURAUD & EURCAD closed below their LSL thus giving sell signals which i took but both was stopped out. that very same bar served as a buy signal, it can be seen more clearly on the EURCAD..see my buy entry on the chart...also on the same bar is the short trade stopped out arrow.
GBPUSD & GBPJPY:
- the sell signals were clearer in the broker that uses LO time.
- note my shorts on both. and SL placements.
- in the AO broker the GBPUSD had a similar but opposite colour bar before just before the trade signal. one can see my short entry on the chart after the up bar and in the LO broker for the EURCAD there was red bar bar just before my entry on the +brb
- i am only pointing these differences out to show that it does not really matter which Opening Times u use.
forgot to mention.. one broker will have "sunday bar" while the other will not have such a bar, that "sunday bar" may consist of only 2 or 3 trading hours.
i know of at least one more trader that is regular contributor here that uses a LO broker and he is Bendz
if there are any questions please post them here and not in a pm, thank you.