Forex charting start of day

[neilthomsonuk]

1st Up apologies if this has been covered in an existing thread - links greatly appreciated.

General thinking is one should trade the timescale of the base market ie GMT, LSE for UK stocks, EST NYSE etc, given the nature of Forex where should I base my start of day upon which to draw regular (4hr/Daily) charts from?

ie if I go for a UK based charting packing that reports 4 hly from GMT starting at 0:00 Vs an american EST, GMT -5 reporting software package, (hope i got that right) then the charting illustrations >1hr will be different therefore giving differing signals

Question -
1. Does it matter?
2. what start of day is 'correct'

thanks in advance

 

[leovirgo]

short answer is, stick to one timezone and try to be profitable.

long answer is below :
1. it matters if you are a mechanical trader based on rigid levels & time signals. if your strategy/method has a sound basis, then it should be transferable across various timezones.

2. there is no 'correct' day for forex as it is 24hr market.

my humble advice is - try to make your life easier. there are enough opportunities in any timezone.