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Trading Hours for European Crude Oil Trading
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Trading Hours for European Crude Oil Trading

  #1 (permalink)
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Trading Hours for European Crude Oil Trading

What Trading Hours Template do Europeans traders using for Crude Oil? I'm using the Nymex Energy ETH one right now, but I would like to eliminate the Asia hours from my chart - its almost always chop and the market ignores it for S/R.

I think significant S/R is made 8am - 8pm GMT, but I'm not sure if there's a template built in to Ninjatrader or if I should copy the Nymex Energy ETH one and tweak the times.


thanks.

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  #3 (permalink)
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Changing the times is easy just be aware that UK and US clocks go out of sync for a week or two weeks in the Spring and Autumn as each country changes their clocks by an hour for the Summertime on different dates.

Daylight Saving Time - When do we change our clocks?

Wanting a session that starts at a certain UK time but say ends at the former Nymex pit RTH close 2:30pm Eastern (RTH start 9:00am Eastern, half an hour before the US stocks at 9:30am) would be tricky.
The CME day ETH day is from 6pm - 5pm Eastern, so that 5pm Eastern is 10pm UK time for most of the year but 9pm for a couple of weeks in the Spring when their clocks go foward first, and differnt for a week in the Autumn. So there are various ways to handle it.

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how about use
Use instrument settings as your time frame

Remember we do electronic trades and our option is not entirely based on when the US or London market opens, yes they do provide us with much needed volume, but what is out ideal time-frame



Sharmas

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  #5 (permalink)
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I see your point... The timezone is set per-trading hour template so you can't have it start at GMT and end at EST. What trading hours are you using Matthew?


matthew28 View Post
Changing the times is easy just be aware that UK and US clocks go out of sync for a week or two weeks in the Spring and Autumn as each country changes their clocks by an hour for the Summertime on different dates.

Daylight Saving Time - When do we change our clocks?

Wanting a session that starts at a certain UK time but say ends at the former Nymex pit RTH close 2:30pm Eastern (RTH start 9:00am Eastern, half an hour before the US stocks at 9:30am) would be tricky.
The CME day ETH day is from 6pm - 5pm Eastern, so that 5pm Eastern is 10pm UK time for most of the year but 9pm for a couple of weeks in the Spring when their clocks go foward first, and differnt for a week in the Autumn. So there are various ways to handle it.


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  #6 (permalink)
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That gives me the Asian hours. I'd like to ignore them, and be able to see immediate S/R from yesterday on my chart. The Asian bars stop me from being able to see more important ones immediately to the left; I'd rather they were just not there.


sharmas View Post
how about use
Use instrument settings as your time frame

Remember we do electronic trades and our option is not entirely based on when the US or London market opens, yes they do provide us with much needed volume, but what is out ideal time-frame



Sharmas


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  #7 (permalink)
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If it was the US equity index futures I would suggest just the RTH former pit hours, but still the current US stock market hours as outside those hours very little volume trades.
For Crude though, if you look at a 30 minute graph say, either in your platform or on the CME website for the relevant months contract you can see that a reasonable volume trades outside of US hours like you say. Personally I always just left Asia in and thought of it as an opening range or initial balance for the European session. So you have Asia as a reference for whether price is making new highs or lows for the day and breaking out of that range or whether nothing seems to be happening and price doesn't stray far outside the range before coming back in .
It could also depend on if you use any indicators that reference the yesterday's high low settle figures. Those might be influenced by the session time you have on your chart and would affect things like daily pivot level calculations. Or the VWAP which is a commonly used indicator for reference during the day but for that to compute accurately the whole session's volume would be needed.
I have traded Crude but don't any longer so other people would know more than me but I think as oil is traded across the world and mostly referenced and sold in US Dollars, and there is reasonable volume outside US times I would make it simple and just keep the full session in.

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  #8 (permalink)
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reach4thelasers View Post
What Trading Hours Template do Europeans traders using for Crude Oil? I'm using the Nymex Energy ETH one right now, but I would like to eliminate the Asia hours from my chart - its almost always chop and the market ignores it for S/R.

I think significant S/R is made 8am - 8pm GMT, but I'm not sure if there's a template built in to Ninjatrader or if I should copy the Nymex Energy ETH one and tweak the times.


thanks.

Try tick charts. Eliminates the low volume hours and gives you good price structure among many other features.

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