What time of day should a broker end?
Most of the time is Friday at 8 p.m. GMT
You would make a lot more progress in learning to trade if you focused on important things and ignored the trivial.
I take that you don’t understand the system I have that may work best with a NY 5pm close of day?
I understand you have a strategy that depends on the closing time and yet you ask me and hundreds of others what time of day should a broker end? I don’t understand that. What does it matter what I or anyone else thinks about the end of day time? OK I will tell you - I think every broker’s choice of end of day is just fine no matter what they have chosen and could care less. My strategy does not depend on something as unimportant as the end of day time, but if it did, I would find a way to cope with it.
You are very forward, anyone would think you know all the answers.
I ask since second opinions are interesting. More specifically I ask since if my broker is going to effectively change start times twice per year, I may want to change broker rather than adjust trading entry/exit twice per year. For this I may as well find out what the majority are going with - this counts in FX (even if I have done well with NY close till now).
If the majority go with New York 5pm for close then I would look for a broker who offers this. If the London close is more popular for end of day then I may find a broker who can offer this.
There is a very well respected FX Mentor rated highly on Fx Peace army that specifically chooses NY close for end of day for the very reasons I am interested in.
Simple question, simple remedy. Why cope with something when you don’t need to.
I for one would like to know the answer to your question, as I have in the past also pondered about it.
I currently trade with a broker (FXDD) where my end of day is NY close.
Is your end of day NY close all year round ie. do they adjust for daylight savings?
Rollover is about 10pm GMT, so thats a good ‘end of day’ But not strategy wise/
Yes it seems to me they do. I live in South Africa, our time zone is GMT +2, we dont use daylight savings. At 00:00 GMT+2 I use to see a new candle form on the D1 chart. A month ago this has changed, A new candle now forms at 23:00 GMT+2.
Logically I think most people trade with brokers that use either the NY close or the London close to determine end of day, but that is just what I think and ccould be wrong.