Note that the NY stock exchange does not open till 9:30 EST, or 13.30 GMT, and the first hour and half (from 9:30 to 11:00 EST, or 13:30 to 15:00 GMT) is heavy trading, lots of liquidity.ĭouble: Don’t Trade after this time. Defaulted at 12:00, the start of the New York Session in GMT, which is 8:00 EST.
Note: The European Session continues till 16.00, so if you are interested in trading this session in entirety, you should have your defaults from 7.00 to 16.00.īool: Whether or not to trade the New York session.ĭouble: Don’t Trade before this time. Defaulted at 12.00 GMT, the start of the New York Session. Defaulted at 7.00 GMT, the start of the London Session, though Germany does not open till 08.00.ĭouble: Don’t Trade after this time. Note: The Tokyo session continues on for 1 more hour to end at 08.00, so if you are interested in trading this session in its entirety, you should indicate from 23:00 to 08.00.īool: Whether or not to trade European session.ĭouble: Don’t Trade before this time. Defaulted at 07.00, the start of the European Session. Sydney starts at 21.00, and Tokyo starts at 23.00 GMT.ĭouble: Don’t Trade after this time. Defaulted at 21:00, the start of Asian Session, if you include Australia. It is defaulted as off.īool: Whether or not to trade Asian session.ĭouble: Don’t Trade before this time.
#LIMIT TRADING MANUAL#
I’m using Primebank, and its market watch info says 2:00 am when the GMT says 23:00 PM, which means that Primebank is ahead by +3 hours, so I would indicate 3 in the manual offset.īool: Whether or not to use the time filter. If your broker’s time is behind the GMT put a negative sign in front of the number. Just write as you normally would for a positive number. If the market watch time is ahead of the GMT then your setting is a positive number. How do you determine your manual GMT offset?Ĭlick on the following link to find the GMT.įind your brokers time by seeing it displayed in your trading platform under Market Watch (the top left hand side of your MetaTrader4 platform). Now do a little math to find out the hourly difference betweem the GMT and your brokers time. Turn off during back testing.ĭouble: If AutoGMTOffset is turned off, indicate what your manual GMT offset would be. Parametersīool: Indicate if you want auto GMT offset turned on or off. It’s usable when you only want to trade in Asian Session, and/or London session, and/or New York Session. The order will be filled until the contract quantity is met or until USD 10,100, whichever comes first.This is multi period allowance trade time filter. Using the logic of Buy Low & Sell High, the system compares the Order Price vs best BID Price (USD 10,100 vs USD 10,182.50) and determines that the order can be filled at a higher selling price of USD 10,182.50 at that specific moment Please refer to the screenshot as an example of how it will look like inside your Order Historyī) Using the limit Sell order at USD 10,100 as an example, the system will do the followingīest BID Price inside the order book is at USD 10,182.50. The order will be filled until the contract quantity is met or until USD 10,207, whichever comes first. Using the logic of Buy Low & Sell High, the system compares the Order Price vs best ASK Price (USD 10,207 vs USD 10,183) and determines that the order can be filled at a lower buying price of USD 10,183 at that specific moment Ī) Using the limit Buy order at USD 10,207 as an example, the system will do the followingīest ASK Price inside the order book is at USD 10,183. Using the order book shown above, limit orders will be immediately executed if traders set their Buy order price at ABOVE best ASK price or Sell order price at BELOW best BID price. Sell Short Order = Order Price LOWER than Best BID Price (Prices that traders are willing to buy) The MAIN REASON why traders limit orders are executed immediately is due to the following:īuy Long Order = Order Price HIGHER than Best ASK Price (Prices that traders are willing to sell) As compared to Market Orders, limit orders provide an option of traders to have better control over their position's entry or exit price at the expense of giving up order execution guarantees. Limit Order is a type of order which allows traders to set a price called the "Order Price".
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