Proper GMT Time Setting procedures

[Sooner]

1. Open up your MT4 and open the "Market Watch" Window.
(use CTRL-M)

2. Make note of the Time displayed in the top of the market watch window.

3. Visit http://wwp.greenwichmeantime.com/

4. Note the difference between the time displayed on the web page and your brokers time. NOTE: Use ONLY the left most time value as your brokers also display in military time.

5. Enter the difference in time (positive or negative) into your FAP Scalper GMT offset value.

6. DO NOT set the GMT offset value in relation to your own time zone.

You must wait for the markets to be open before determining your GMT offset, you cannot do it during the time when the markets are closed as your broker will not be updating the time display on market watch.

Non-Daylight Savings time broker information
IBFX Offset = 0
Alpari Offset = 1
FXDD = 2
FXPRO = 2


Daylight Savings time broker information
IBFX Offset = 1
Alpari Offset = 2
FXDD = 3

Alan can you sticky this so anyone who is wondering can find it easily?

[^eagle^]

Originally Posted by Sooner

1. Open up your MT4 and open the "Market Watch" Window.
(use CTRL-M)

2. Make note of the Time displayed in the top of the market watch window.

3. Visit http://wwp.greenwichmeantime.com/

4. Note the difference between the time displayed on the web page and your brokers time. NOTE: Use ONLY the left most time value as your brokers also display in military time.

5. Enter the difference in time (positive or negative) into your FAP Scalper GMT offset value.

6. DO NOT set the GMT offset value in relation to your own time zone. Your own time zone should not factor into the equation unless your time zone and that of your broker are exactly the same.

You must wait for the markets to be open before determining your GMT offset, you cannot do it during the time when the markets are closed as your broker will not be updating the time display on market watch.


Alan can you sticky this so anyone who is wondering can find it easily?

Consider it done I will merge this into an FAQ exclusively for FaP turbo.

[Sooner]

Thank you eagle, hopefully this will save some people from blowing up an account due to inaccurate GMT settings.

[janc63]

I will be very honest.

Allthough the explaination is very good, somehow, out of fear, I keep being uncertain weither I entered mine correct or not.

Could it be possible for someone who understands better than some of us to provide a short list regarding the GMT settings?

So like:

FXDD: GMToffset =
IBFX: GmtOffset =
ALPARI: Gmtoffset =

Another tip could be for the programmers to add a setting in the EA.

It could be someting like you having to enter your broker and then the EA set this option by itself.

As being a member of FAPWINNER I will express my idea to them. Wo knows: maybe they will add it?

[limitup]

Originally Posted by Sooner

6. DO NOT set the GMT offset value in relation to your own time zone. Your own time zone should not factor into the equation unless your time zone and that of your broker are exactly the same.

...even if your broker is in the same time zone...GMT broker time could still differ from your same time zone.

[lukx]

FXDD = 2 (during winter time NOW)

[limitup]

Here is a humdinger....the market just open, and both FXDD and FxPro have the same MarketWatch time. Explain that one.

[limitup]

I find it odd that both FXDD and FxPro are +2 with ...with FXDD in New York and FxPro in Cypress. Both are keying in on the same Market Time server. So, I guess you cannot base your setting on brokers location relative to GMT...only the Market time server the use...I guess that is wat I have been trying to say. Now I'm not so confused.

[Sooner]

Originally Posted by janc63

I will be very honest.

Allthough the explaination is very good, somehow, out of fear, I keep being uncertain weither I entered mine correct or not.

Could it be possible for someone who understands better than some of us to provide a short list regarding the GMT settings?

So like:

FXDD: GMToffset =
IBFX: GmtOffset =
ALPARI: Gmtoffset =

Another tip could be for the programmers to add a setting in the EA.

It could be someting like you having to enter your broker and then the EA set this option by itself.

As being a member of FAPWINNER I will express my idea to them. Wo knows: maybe they will add it?

IBFX Offset = 0
Alpari Offset = 1
Not sure about FXDD as I don't have that platform loaded yet.

[Lorenco]

My Local Timezone = GMT + 02:00
and market`s time ( FXDD )is exactly the same with my time.So i put "2" in my GMT offset?