closing positions Exit strategies session settings - Timezones

Hi Tom,

My trading buddy, Jim, and I have been attempting to setup exit strategies but still not getting there. We understand you are working hard on the documentation but we need some help in the interim.

We plan to trade the ES using your MT3 HILO Trader strategy. One of our requirements for one strategy is to stop trading at 2:00PM (14 hours), close any trades at 3:10PM (15 hours 10 minutes, just before the end of the cash market) and recommence when the market re-opens at say 4:00PM (16 hours).

In the example above we have attempted to ignore signals & close positions out of session. (Session mode 1). We have set the session to end at 15 hours (3:00PM ?) but a trade was taken at 3:50PM. The computer clock is set to US central (Chicago) time.

What are we doing wrong?

Thanking you in anticipation.

Errol

AnswerL

Hi

The screen shot was too small for me to read, you could just do one of the parameters window if you wanted, however i can answer using the infor you sent.

Session times and PC CLock Timezones
The session settings always refer to the local PC Clock. So if you want to stop at 16:00 EST you need to set the local pc clock to that time and sepcify Session End hour 16, session end minute 0 or - work out the time difference, eg for GMT 5 hours ahead - i would set
session End hour 23, session end minute 0

"....We plan to trade the ES using your MT3 HILO Trader strategy. One of our requirements for one strategy is to stop trading at 2:00PM (14 hours), close any trades at 3:10PM (15 hours 10 minutes, just before the end of the cash market) and recommence when the market re-opens at say 4:00PM (16 hours)...."

Question:
From what time in the morning to what time in the evening?

I think the only way to do that is to have 2 strategies running. I will need to add some functionality to do what you want with one - i will address that in a future release. So 1 strategy will go to sleep and the other start. It is advisable to do this one 2 charts or 2 seperater timeseries.

Using the 24hour clock Local PC Time EST TimeZone

Strategy 1
Trade from 08AM to 15:10PM
Session mode 1
Session start hour 8
Session start minute 0
Session end hour 15
Session end minute 10

Trade from 16PM to Midnight?
Strategy 2
Session mode 1
Session start hour 16
Session start minute 0
Session end hour 23
Session end minute 59

"...In the example above we have attempted to ignore signals & close positions out of session. (Session mode 1). We have set the session to end at 15 hours (3:00PM ?) but a trade was taken at 3:50PM. The computer clock is set to US central (Chicago) time...."

To use the above example in US central (Chicago) time - you will need to add/subtract the difference to the times specified.
I think Central is 1 hour behind EST - but i am not sure if thats always correct... you may need to adjust at seasonal changes etc.

Using the 24hour clock Local PC Time US central - you need to adjust the EST Settings above by 1 hour.
See if that resolves your issue.

Session Templates
Which session templates are you using?
Default 24/7
Default 24/5
Default Instrument settings

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