Hello guys. I have some problems with all the different timezones. Hopefully some of you can help me out.
So I live in Berlin, Germany. This is the CET timezone. Right now my local time is 19:00 or 7:00 pm.
The time on my Metatrader is 20:00 or 8:00 PM. Can i somehow change that?
And one more question. I brought up ICTs indikator “ICT Asian Session”. It shows me that the Asian Session begins at Midnight and ends at 8:00 AM time (my metatrader time). so basicly it means that it begins 11PM and ends 7AM CET. Can this be right? In his video “Trading the Asian Session” he said that the Asian Session is Between 7:00 PM to 5:00 Am EST (New York Time) which would actually be 1AM - 11AM my local CET time. So it seems to me, like there are some mistakes. May someone actually tell me when the Asian Session does start?
Currently, your time zone is [B]Central European Summer Time, CEST (GMT+2).[/B]
CEST is derived from your basic CET time zone + 1 hour for daylight saving time (summer time).
On October 28, your time zone will return to CET (GMT+1), when all of Europe returns to Standard Time.
Possibly. Check with your broker.
Metatrader is licensed to brokers all over the world. Many of its features are fixed features, which individual brokers cannot alter. Apparently, [B]the MT4 platform time[/B] can be altered, and some brokers have done that. Again, talk to your own broker to verify the info I’m giving you here.
[B]The “Asian Session” is actually two closely overlapping sessions — [/B]
• [B]The Tokyo Trading Session[/B] (Japan and Korea), which opens at 23:00 GMT and closes at 08:00 GMT. The Tokyo Session accounts for 356 billion USD per day in foreign exchange volume.
• [B]The Singapore Trading Session[/B] (Singapore, Hong Kong, Taiwan, and China), which opens one hour later at midnight GMT and closes at 09:00 GMT. [B]The Singapore Session is the larger[/B] of the two Asian Sessions, with a daily trading volume of 542 billion USD (60% of the Asian total).
Here are the opening and closing times for the Tokyo Session and the Singapore Session in local times (JST and SGT), and in your time zone (currently CEST=GMT+2) —
• Tokyo Session — 8am-5pm JST (GMT+9) = 1am-10am CEST (GMT+2)
Notice that the total time period for both sessions (combined) [B]begins at 1am CEST and ends at 11am CEST,[/B] which is 7pm-5am New York time (currently EDT=GMT-4). This is the time period you referred to in the ICT video.
Be aware that Michael Huddleston (ICT) refers to New York time as EST, regardless of time of year. So, whenever you hear him say EST, understand that he means New York time, but understand also that he is not adjusting for Daylight Saving Time. You will have to make those adjustments for yourself. The easiest way to do this is to use the Table of Forex Trading Sessions, which I will link to below.
After October 28, when Europe and the U.K. return to Standard Time, the Tokyo Session will be midnight-9am [B]CET[/B] (GMT+1), and the Singapore Session will be 1am-10am [B]CET[/B] (GMT+1).
Here is a link to a Table of up-to-date information on session times for all time zones, including yours. The only line in this Table which you need to be concerned with is the line labeled GMT+2, which is your time zone. (After October 28, use the line labeled GMT+1.) — 301 Moved Permanently
If you are following the ICT methodology, do not confuse Session Times (in the Table) with the ICT Kill Zone times.
Kill Zones are not session times. Kill Zones are 2-hour (or 4-hour) time periods bracketing the early Asian Session, the London Open, the New York Open, and the London Close. In the ICT methodology, these are prime time periods in which to look for high-probability trade set-ups.
Note that these Kill Zone times will change whenever Daylight Saving Time changes occur in the countries involved.
One final point. There are no specific, exact “opening times” or “closing times” for any spot forex market. In every market (London, New York, Tokyo, etc.) trading goes on around the clock, twenty-four hours per day, from 8am Monday morning (Wellington time) until 5pm Friday afternoon (New York time). That’s about 122 hours per week of continuous trading activity in every market.
What we call the “opening time” in a particular forex market is simply the time of day when trading volume increases rapidly. In every market, this time corresponds to the beginning of the normal business day, when minimal overnight commercial activity begins to ramp up for the day.
Most people who analyze these things place the beginning of the “normal business day” at 8am, local time, in each market. Sometimes you will see 9am stated. I use 8am, and the Tables linked to above use 8am as the start of the forex trading session in every market.
This 8am “opening time” is somewhat arbitrary. But, we have to [I]select[/I] a time, because there is no “opening bell” in forex, such as you find in exchange-traded securities. Approximately 17% of each day’s trading volume, in each market, occurs in the overnight hours after the market is “closed” for the day, and before it “opens” for the next day.
Likewise, the “closing time” in each market is somewhat arbitrary. Most traders use 5pm, local time, as the close of the normal business day, and as the “close” of the forex trading day — although, as pointed out above, some forex trading goes on throughout the night, in each market.
These arbitrary times, 8am and 5pm, define a 9-hour trading session, and it is these 9-hour time periods which are listed in the Table of Forex Trading Sessions.