5 day chart with a News York Close on the correct MT4
Hey guys just came across this 5 day chart with a News York Close on the correct MT4 what does it all mean i use alpari uk on mt4 platform now i was told to download mt 4 from fxdd for a 5 day chart and new york close i ran them side buy side checked everything out in them and all is the same apart from 2 thing alpari is gmt +1 and fxdd is gmt +2 also profate on say alpari was £25 and on fxdd was double £50 and alpari uk was running about 7 to 10 pips less than fxdd ?
I hate to be the one to tell you this but (unless FXDD has added some 'feature' that I don't know about) FXDD does NOT close their daily charts on New York time. By 'New York time' I DON'T mean the CLOSING time of the NYSE or the New York Banks I mean MIDNIGHT New York time. Right now, as I type this, FXDD's time is 19h06 and New York time is 12h06. Based on this: FXDD's time is 7 hours ahead of New York time so even if you were looking to use the closing time of New York's Banks i.e. 17h00 New York time you'd still be 'out' by one or two hours (if my calculations are correct which I think they are). These are however, according to 'Pivot Point Gurus', the right times to use (plus / minus) and some will say to use a broker which closes their charts at exactly GMT (essentially not much difference really as not much happens after 17h00 New York time). As I said: it depends on what you mean by 'New York Time'. The same would apply to Alpari.
"You can't make an omelet without breaking eggs."