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.