Metatrader server time problem

Hi everyone! I am using a national broker in turkey due to some regulations down here. And my broker’s server time is the local time which is GMT+2. Since nearly all indicators use OHLC it becomes stupid to try to get out of something i guess. And as i know there is no way to change the metatrader time. So i want to ask you guys if it would be feasible to work on a demo account with an EST server time broker and do real actions on turkish broker.

If its feasible, can you advice me some EST time brokers for demo?

Btw i guess its mostly dollar for EST and crosses for gmt, am i right? I mean to study technical analysis on.

Your questions are confusing. I do not understand what you are asking.

Does that mean that you are limited to using ONLY a national broker in Turkey?

Do Turkish regulations allow you to use an EST broker who has an EST server?

Yes, we have to work with certain brokers which have SPK approvals. SPK is like FSA of turkey. The things is there are only 8 brokers which have it right now.

The thing is turkis brokers use GMT+2 server time. But to analyze the charts and indicators, wouldnt it be more logical to study with EST?

And i asked if it is more logical with EST, would it be ok to use a demo account from an EST broker and do actions on turkish broker?

Do not live in Turkey so not sure of internet connections etc. but…

It is not necessary to trade an EST broker chart to make pips. The platform
I make my calls off is FXPro which is GMT+2.

But Oanda have an MT4 chart that is EST.

So you can open a demo at Oanda & trade any broker you wish, obviously
taking into account local laws etc.

PS I make trades at 4 different brokers or spread betters.

I do not live in Turkey either. But you should be able to open an online account with any broker but make sure you do a due diligence, research the info and sort the lot. And yes, most brokers will offer a demo account.

I don’t understand anybody wanting to use a broker with EST; but for your information FXSol offers this. I much prefer GMT+2 because you get the right starting time for the Monday opening.

Aha! Now I understand your question, thank you.

Apparently Turkish regulations are directed to ONLY the broker that you actually do business with, where money is involved. However, apparently Turkish regulations DO NOT restrict your use of a demo account, which involves no actual money, no matter where in the world your demo account could be, no matter where in the world your demo account server could be.

So, it appears that you could open and could use a “demo” account ANYWHERE in the world, without any legal restriction.

Edit: You might need TWO computers, one for your “demo” account and one for your “live” account, with both computers running at the same time, simultaneously, if the time frames you are using require such a thing. For instance, if you are trading on a long time frame, such as weeks or months, then you could need only one computer, but if you are a day trader, on a short time frame, then two computers running simultaneously could work to your advantage.

On doing demo with one trader and doing it live with another, may work, provided there’s no lag time between executions. Just check the quotes, movements on both - demo and live, they should be the same…if not, your idea will not work…

Only scalpers need razor-sharp precision of their quotes, otherwise time lag has little meaning.

Yes you can chart with a demo account and trade on another live account. Many people do that. Watch the 2 price feeds and make sure they are close before you place any live trades.

Wish that was true, still remember the “requote” wranglers I’d to put up with initially. So unless both the demo and live account [different brokers] are in sync, the idea’s not going to work - at least, that’s my take on it.

It comes down to the time frames of trading that you could consider. For instance, if you are going to scalp, or trade on very short time frames, trades of only a few minutes or seconds, then both the demo account and the live account MUST be in sync, and even then a small retail account can run into liquidity problems, which can cause a significant time delay, too. Going to a longer time frame, such as day trading, considerably reduces sync troubles between two different sources, and going to an even longer time frame, such as swing trading, all but eliminates sync troubles. Position traders NEVER have sync troubles, but then position traders are not likely to be using two different sources.

Oh yea! Position traders are not going to trade on two platforms, does not make much sense. But for scalping, both platforms must be in sync and of course, we have to make room for sudden tech glitches - which, for some reason keeps getting worse…maybe, that’s just me.

Scalping MUST have ACCURATE price quotes, and then MUST have LIGHTNING FAST trade entry and trade exit abilities, but the reality is that for retail traders scalping is much more gambling than trading, as beyond those things a small retail trading account could also encounter liquidity troubles, too. Remember that the Forex market trades on “standard” lots and trading anything smaller than a standard lot could include a penalty in terms of a time lag to trades, both on trade entry and on trade exit, and any kind of a time lag could go against a scalper.

So, if a trader trades with micro or mini accounts, that trader would have to put up with lag times…
No wonder most of the newbies can’t seem to figure out why they keep getting requotes…

Yes, micro and mini lots ARE NOT miniature versions of standard lots. One way or another, because the forex market trades ONLY in standard lots, micro and mini lots MUST be merged with other micro and mini lots currently being traded, to cumulatively form a standard lot(s) BEFORE that standard lot(s) can enter a trade on the forex market, and, on exiting a trade, that same standard lot(s) must then be broken into smaller amounts of money in order to pay the micro and mini lot traders => BOTH forming a standard lot from smaller lots and then breaking a standard lot into smaller lots TAKES TIME. GUESS WHO PAYS FOR THAT TIME? YES, THE MICRO AND MINI LOT TRADERS PAY FOR THAT TIME!

Another trouble could come when micro and mini traders think that Dealing Desk Market Maker brokers are bad, and that the micro and mini trader’s salvation could come from a Non-Dealing Desk ECN broker. Problem solved, right? No, No, No! The micro and mini traders could well get an ECN trading platform, where their broker stays out of their trades, BUT THEN the broker’s BANK will have to form, and then break up, a standard lot(s), no differently than a Market Maker does. True, the broker stays out of the trades, but it still takes time for the broker’s bank to make the conversions, and that unavoidably introduces potentially costly time lag.

The only “level” playing field in the forex world begins with trading standard lots on a 100% ECN trading platform, = 1:1

However, not all is lost, and there is hope for the small retail trader. The single most economical thing for a small retail trader to do is to trade on a longer time frame, such as being a day trader, holding trades for perhaps a few hours and not just a few minutes, and that way any time lags introduced will become virtually meaningless. In other words, scalping is a no-no for small retail traders.

Thanks for the info and I did my own research and you’re on spot as far as lag time and the mini/micro version went by. A fact most brokers do not highlight and prefer to hide it under vague definitions…not going to point fingers seeing how they were fined recently.
Wish though that newbies will learn more about the market before diving in… and just a few moments before, came cross a thread asking for my op-ed on EA’s in order to transform $2000 into …wait for it… $100,000 and this should be done in 1 week, no less. The last part got me laughing and haven’t stopped since.
Thnx

The longer the trading time frame being considered, the greater the price swings a trader must be prepared for. For instance, a day trader holding trades for a few hours at a time might prepare for a price swing of thirty pips, but a swing trader holding trades for weeks at a time might prepare for a price swing of a few hundred pips, which means that a day trader can trade with much less at risk, which makes day trading more attractive, and safer, for those with small retail accounts.

Yet novice traders then assume that an even shorter time frame could pose even less risk, such as scalping, but not so!

To trade anything smaller than a standard lot, STAY AWAY from very short time frames, such as scalping.

This issue and the one with newbies would be addressed more effectively, if the customer service [re:brokers] make it clear to them the risks involved by setting up shop with accounts smaller than that of a standard lot. Often, the CS provides vague replies and this only confuses the newbie even further…
To be fair, micro, mini and other smaller accounts do limit the risk but then again, that’s what the demo is there for…

BabyPips could do well to [U]EMPHASIZE[/U] to new traders that the forex market trades [U]ONLY[/U] 100,000 currency unit lots, or standard lots, [U]AND[/U], that costly time lags could occur, both on entering and on exiting a trade, for any lots smaller than standard lots.

For the small retail trader, being a day trader is generally safer, more predictable and more reliable, than being a scalper.

Good Pips, to you!