In order to reduce the working hours for criminals during the Halloween season, the United States only revert back to Standard Time one week after the remainder of the Civilized World.
Ok, I do not want to insult anybody, so let me name a few exceptions. Mexico, Bermuda and Cameroon still follow the United States - do they have Halloween in Cameroon? - and Greenland is divided between Qaanaaq observing the US rules for switching to DST, while Ittoqqortoormiit follows Europe. So let us say that most of the Civilized World of the Northern Hemisphere has already switched back to Standard Time.
If you are a FOREX trader, you should think about creating a specific session template for the next week. Typically the session template refers to the local time of the exchange, for FOREX there is no exchange which can be taken as reference, so you would have the choice between EST and British Standard Time.
Different DST Rules
As the FOREX trading day starts in Asia and ends in the US with London being in the middle, the close is typically the New York close and most traders will probably have their FOREX templates in EST. Adapting the session template to summertime, the Halloween session and to standard time is necessary because
-> New York switches to standard time on November 7
-> London has switched to standard time today (October 30)
-> Tokyo has no summertime and does not switch
As the session templates defines the FOREX market opening hours relative to New York time, you need to switch the template today (London opens one hour later) and next week-end (London and Tokyo will open one hour earlier compared to the next week). This is what I use for the opening hours
FOREX Opening Hours
Tokyo: 8:00 AM TST, London 8.00 AM BST, New York 8:00 AM EST. All times now converted to EST:
Opening Hours converted to Summer Time (until Octobre 30)
New York : 8:00 AM EST, London: 2:00 AM EST , Tokyo 7:00 PM EST
Opening Hours during the Halloween Season(October 30 - November 7)
New York : 8:00 AM EST, London: 3:00 AM EST, Tokyo 7:00 PM EST
Opening Hours in Standard Time (starting November 7)
New York : 8:00 AM EST, London: 2:00 AM EST , Tokyo 6:00 PM EST
Any comments are greatly appeciated.
Adapting the Session Template
Actually, I do not use Tokyo Time in my templates, you will only find Tokyo Time in the opening range indicator for determining the Asian session highs and lows.
This simplifies the task, as I only need to adjust for the time difference between London and New York. So I have a template for the coming week, which is my Halloween Template. Afterwards I will revert back to the use of my normal template.
Last edited by Fat Tails; October 30th, 2011 at 04:02 PM.
The following 4 users say Thank You to Fat Tails for this post:
I don't want to keep it ovenight ! ( Pumpkins are acting stangely on this particular night )
But if something goes wrong then I presume I must start a "pumpkins soup" buisness.
Happy halloween trading !