Hi
I've just paid up for a licence and want to start downloading data to use for backtesting, but I'm not sure whether I should be adjusting the timezone? I'm with Darwinex, so I am assuming a British timezone, but do I go for UTC+00:00 Dublin, Edinburgh, Lisbon, London, or UTC+2 with European/London DST?
And I thought choosing a timezone would be easy!
Thank you.
What timezone for Darwinex broker?
Re: What timezone for Darwinex broker?
Hi peteSKB,
Welcome aboard! According to this post, you should be looking at choosing "New York Trading Time".
Hope this helps.
Welcome aboard! According to this post, you should be looking at choosing "New York Trading Time".
Hope this helps.
Re: What timezone for Darwinex broker?
Hi
Thank you. That seems very strange and confuses me even more. I'm not sure why I can program and understand MQL5 but get so confused about timezones!
I assume this only becomes an issue if I begin filtering my trades based on the time of day? So if my backtest results say that trades are only successful during say 9:00 to 5:00, that would be 9:00 to 5:00 New York time not 9:00 to 5:00 in the UK?
Thank you
Thank you. That seems very strange and confuses me even more. I'm not sure why I can program and understand MQL5 but get so confused about timezones!
I assume this only becomes an issue if I begin filtering my trades based on the time of day? So if my backtest results say that trades are only successful during say 9:00 to 5:00, that would be 9:00 to 5:00 New York time not 9:00 to 5:00 in the UK?
Thank you
Re: What timezone for Darwinex broker?
Hi PeteSKB,
Yes, time-zones can get confusing. I suppose the best way to think of things is to imagine that you are waking up and trading in your broker's time-zone. In this case, 9am would by the time in New York (i.e. the time when they open their markets and begin trading) and 5pm is when the trading stops.
It is always better to have an understanding of your broker's time-zone as various points throughout the day can explain some of the trading activity that occurs. For example, perhaps there is regularly a market-moving news release at 10am every Thursday, you would see this on the daily chart at the same point. Very often with Forex trading, people prefer to base-line all their times in GMT/UTC which allows a standard point of reference across all the global markets. Whatever you choose, you will need to ultimately export data in your broker's time-zone before you go live as the incoming data points will obviously be in the stated time-zone (NY time in your case). You don't want a mix of UTC and NY times in the one dataset otherwise it won't make sense.
FYI, there is a mention of time-zones in our manual and if you search "time-zone" in this forum, you can often find some useful information which will help improve your understanding of how they work in relation to trading.
Hope this helps.
Yes, time-zones can get confusing. I suppose the best way to think of things is to imagine that you are waking up and trading in your broker's time-zone. In this case, 9am would by the time in New York (i.e. the time when they open their markets and begin trading) and 5pm is when the trading stops.
It is always better to have an understanding of your broker's time-zone as various points throughout the day can explain some of the trading activity that occurs. For example, perhaps there is regularly a market-moving news release at 10am every Thursday, you would see this on the daily chart at the same point. Very often with Forex trading, people prefer to base-line all their times in GMT/UTC which allows a standard point of reference across all the global markets. Whatever you choose, you will need to ultimately export data in your broker's time-zone before you go live as the incoming data points will obviously be in the stated time-zone (NY time in your case). You don't want a mix of UTC and NY times in the one dataset otherwise it won't make sense.
FYI, there is a mention of time-zones in our manual and if you search "time-zone" in this forum, you can often find some useful information which will help improve your understanding of how they work in relation to trading.
Hope this helps.