Times two
Posted: Thu Jan 06, 2011 7:49 pm
Well, two time related questions anyway.
I live in London, so have my trading software (Marketscope) set to GMT. I daily look out for when announcements are due (which I get in GMT) and either avoid trading or adjust my SL & TP of open positions during those times. These are scalping trades using 1hr or 15 min timeframes.
The trades I make are based on a 1 day time frame, ie. Daily trend I think is showing upwards so my scalping ignores downward signals.
Question 1:
The price bar on my daily window moves on (ie closes and starts a new bar) at 22:00 GMT, not 00:00 as might be expected.
I'm guessing 12 is somewhere in the answer, as in 22:00 GMT is 12:00 somewhere else, but where is it? I probably could work it out, but thought I'd ask first.
I initially thought NY but thats 8 hours difference isn't it?
Question 2:
I don't think it does, but this time difference, does it have an effect on the shape /patterns on the daily chart. I suppose "not" if we're all looking at the same thing.
TY
Mark
I live in London, so have my trading software (Marketscope) set to GMT. I daily look out for when announcements are due (which I get in GMT) and either avoid trading or adjust my SL & TP of open positions during those times. These are scalping trades using 1hr or 15 min timeframes.
The trades I make are based on a 1 day time frame, ie. Daily trend I think is showing upwards so my scalping ignores downward signals.
Question 1:
The price bar on my daily window moves on (ie closes and starts a new bar) at 22:00 GMT, not 00:00 as might be expected.
I'm guessing 12 is somewhere in the answer, as in 22:00 GMT is 12:00 somewhere else, but where is it? I probably could work it out, but thought I'd ask first.
I initially thought NY but thats 8 hours difference isn't it?
Question 2:
I don't think it does, but this time difference, does it have an effect on the shape /patterns on the daily chart. I suppose "not" if we're all looking at the same thing.
TY
Mark