The GMT Issue and Candle Variation

[dwaddell]

All,

I'd appreciate some feedback on this. I'm running two platforms in two different locations, home and office, VT Trader and MetaTrader for FX.

First
Up until yesterday, when I re-installed Metatrader at home, the 4H candles(00, 04, 08, 12, 16, 20 hrs) started new in Metatrader at (23, 03, 07, 11, 15, 19 hrs GMT), now they are bang on, I noticed the quote server had changed in Metatrader from Metaquotes-Demo to InterbankFX-Demo, is this the reason for the change in when the candles are created? Why dont they all operate off one timeframe?

Second
When I compare my 4H candles in VT Trader and those in MetaTrader, although the general pattern is correct, the candles themselves differ in OHLC values, I can understand a little variation coming from different quote providers, but some are way different, as if they are constructed in a different time zone.

Question
What's going on, how does the time zone have an impact, which is the best timezone to trade off, why doesnt all the software work from one timezone, so all candles, regardless of product, look the same across the board?

Confused? I certainly am!

Dave

 

[fxmarkets]

hehe sounds like maybe you just need to choose one and keep things simple for yourself.

Personally using VT here, but push trades through Oanda, I just chart the Euro and the bid on VT is 1 pip sub oanda but It would be as Oanda spread is half the price datas spread.

Vt is pretty processor hungry if you load too much on at once. but its left running 24/7 here and reliability is fine with my experience using it.



Ive looked at metatrader, but just dont like it.

test it out but make things simple for yourself Dave...

If you are looking to trade euro use Oanda, ive put through hundreds of trades and all have gone through that instant, Faultless .

 

[dwaddell]

Thanks fxmarkets.

On your VT (is that the CMSFX version?) do your candles start and end at the correct GMT times, i.e. if you switch to 4H, do you get a candle at 00, 04, 08, 12, 16, 20 hrs GMT even though the time in the bottom corner of VT seems to be EST?

I assume you're using OandA only because of the better spread, any reason other than that for not haveing a CMS account (if that's who your VT provider is).

Thanks again,

Dave.

 

[fxmarkets]

the time is 5 hrs back, so 0200 on the charts is 7 am london im used to that doesnt take long...
well time wise now on chart 06.14 but you know its 11.14 london. the 4 hr bar thats forming now will finish at 1 pm uk time. or 0800 as its marked on the charts.


with Oanda, they are exceptionally efficient, if you want your trade to go through without any headaches even in fast markets your fine, stops are Pin sharp, mine are close and on the occassion its spiked 20 points, ive always been hit bang on stop. no worries there either.

cant comment on cms service but Oanda lead the way from what most people say and my own experience its True. , no point looking for trouble on my part.