Forex Gold Investor such as many other forex robots (expert advisors) has some time restrictions in its trading strategy. Therefore it is very important to set correct GMT offset in the forex robot settings. This will help to determine the exact time for trading.
Greenwich Mean Time (GMT) called also Coordinated Universal Time (UTC) is used as the official world reference for time. You will often see time zones represented similar to UTC - 3h or GMT - 3h. In this example the (-3h) refers to that time zone being three hours behind UTC or GMT. UTC+3h or GMT +3h would refer to that time zone being three hours ahead of UTC or GMT. The difference in time between our local time and GMT (UTC) is called GMT offset.
Different brokerage companies have different GMT offsets. Therefore it is so important to set a correct GMT offset in the expert advisors settings. Otherwise the forex robots will not be able to detect the correct time when to start or stop trading. Of course, this will affect their performances negatively.
There are 3 important GMT offset parameters in Forex Gold Investor which must be set correctly. They are:
AutoGMT_Offset: When it is TRUE the robot will automatically find the correct GMT offset of your broker. Change to FALSE only if you want to use the ManualGMT_Offset in your live trading. In this case, please ensure that you have used the correct ManualGMT_Offset for your broker. In rare situations Automatic GMT offset detection system of the robot may fail due to wrong time zon set in the computer. In such situations you must use only Manual GMT offset.
ManualGMT_Offset: For this parameter you have to set the winter GMT offset of your broker. This parameter is very important in case that you have disabled the AutoGMT_Offset=false and when you backtest the Forex Gold Investor. If you set wrong value, then you may get unexpected results.
DST_Usage: If your broker shifts the GMT offset with +1 hour in the end of March and change it back in the end of October, you should set DST_Usage=true for live trading. This is important for the correct functioning of the second trading system (Signal 2). If your broker doesn't shifts the GMT offset and use always one GMT offset then you have to set DST_Usage=false. In both cases it is very important to set value in DST_Usage!
If you are not sure whether your GMT offset settings are correct don't hesitate to contact us or comment below. We will be happy to help you.
Comments (8)
Hi Do I have to install the new version?
Is there a picture to change the numbers
timing
ALDO ALSALEM: Hi Do I have to install the new version?
Is there a picture to change the numbers
timing
Yes, you have to install the new version. If you have any difficulties setting up the EA please contact the support team and they will help you for sure.
Can you tell me how to set the CORRECT GMT OFFSET for this EA? My broker is PaxForex (+3 GMT). Do I need to know the GMT of my VPS (Commercial Network Services)?
Derrick Coleman: Can you tell me how to set the CORRECT GMT OFFSET for this EA? My broker is PaxForex (+3 GMT). Do I need to know the GMT of my VPS (Commercial Network Services)?
Since you know your broker GMT Offset and if the robot does not find your GMT Offset correctly, then you have to set "winter GMT offset " of your broker. Please read above the post for details. No, you don't need your VPS server time, the important GMT Offset is your broker time. For more details you can contact our support team.
Good job my bro.
Can you tell me how to set the CORRECT GMT for this EA? My broker is FXPRO from UK? Is forex gold investor looking for GMT automatically in MT4 plattform?
timothy chin: Can you tell me how to set the CORRECT GMT for this EA? My broker is FXPRO from UK? Is forex gold investor looking for GMT automatically in MT4 plattform?
As you can read in the article you have to know your broker GMT offset. Then you have to set AutoGMT_Offset=false and set ManualGMT_Offset=(winter GMT offset). Also, you need to pay attention for the DST_Usage.
For more questions you can contact support team of Forex GOLD Investor.
Hi, Very informative post and really appreciate the effort you put into it. Every one now a days is trying to gather more information about Forex Trading .