Asia open confusion - Currency Futures | futures io social day trading
futures io futures trading


Asia open confusion
Updated: Views / Replies:488 / 3
Created: by Joseph689 Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Asia open confusion

  #1 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: MetaTrader 4
Broker/Data: Interactive Brokers
Favorite Futures: Forex
 
Joseph689's Avatar
 
Posts: 121 since Sep 2012
Thanks: 113 given, 36 received

Asia open confusion

Hello everyone,

I have a strategy that relies on the daily bar to start with the Asian open.

I live in the west coast, California. I use ATC broker demo/MT4.

Right now my daily bar starts at 2pm my time, so, which market open that that time correspond with?

Does Sydney open considered as Asian open, or is "Asian open" referring to Tokyo open?

I really appreciate help on this, my prospect broker (ATC) is of no help and even more confusing.

Thank you.

Joseph

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,651 since Mar 2010
Thanks: 4,226 given, 25,597 received
Forum Reputation: Legendary


This is in fact pretty confusing as Sydney, Tokio, London and New York have different daylight savings schedules.

Sydney: DST from Oct 5, 2014 to Sun, Apr 5 2015
Tokyo: No DST
London: DST from Mar 29, 2015 to Oct 25, 2015
New York: DST from Mar 8, 2015 to November 1, 2015

This means that right now Sidney still has DST, while New York already has DST, whereas London will start DST in two weeks, while Tokyo does not participate in that game.

I think that it is more or less impossible to follow all those different time zones and changes, and therefore I focus on the New York close at 5:00 PM EST. Logically that close ends the trading day that started in the Far East then continued with the Tokyo/London overlap and the London/New York overlap. New York and Tokyo do not overlap, there is a hole of 1 hour in winter and 2 hours in summer between the New York close and the Tokyo open.

For trading strategies, I basically use 5:00 PM EST as the start of the new trading day, which currently falls together with the Sidney open (this will change in April when Sydney switches back to standard time). Alternatively the Tokyo open at 6:00 PM EST (in winter) / 7:00 PM EST (in summer) could be used.

The Tokyo open does not have a meaning to me. If something happens over the week-end the price will already gap up or down when the Sydney session starts. Therefore the Tokyo open comes late. An evaluation of volume - particularly on Sunday evening / Monday morning suggests that the correct session to select is 5:00 PM EST to 5:00 PM EST. And this is also the simplest solution.

Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
 
  #4 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: MetaTrader 4
Broker/Data: Interactive Brokers
Favorite Futures: Forex
 
Joseph689's Avatar
 
Posts: 121 since Sep 2012
Thanks: 113 given, 36 received

Fat Tails; point well articulated as usual, and you have saved me from going down that "rabbit hole" of Forex time warps!!

"For trading strategies, I basically use 5:00 PM EST as the start of the new trading day"
Sound good to me!!

Thank you Fat Tails and have a great weekend!!




Fat Tails View Post
This is in fact pretty confusing as Sydney, Tokio, London and New York have different daylight savings schedules.

Sydney: DST from Oct 5, 2014 to Sun, Apr 5 2015
Tokyo: No DST
London: DST from Mar 29, 2015 to Oct 25, 2015
New York: DST from Mar 8, 2015 to November 1, 2015

This means that right now Sidney still has DST, while New York already has DST, whereas London will start DST in two weeks, while Tokyo does not participate in that game.

I think that it is more or less impossible to follow all those different time zones and changes, and therefore I focus on the New York close at 5:00 PM EST. Logically that close ends the trading day that started in the Far East then continued with the Tokyo/London overlap and the London/New York overlap. New York and Tokyo do not overlap, there is a hole of 1 hour in winter and 2 hours in summer between the New York close and the Tokyo open.

For trading strategies, I basically use 5:00 PM EST as the start of the new trading day, which currently falls together with the Sidney open (this will change in April when Sydney switches back to standard time). Alternatively the Tokyo open at 6:00 PM EST (in winter) / 7:00 PM EST (in summer) could be used.

The Tokyo open does not have a meaning to me. If something happens over the week-end the price will already gap up or down when the Sydney session starts. Therefore the Tokyo open comes late. An evaluation of volume - particularly on Sunday evening / Monday morning suggests that the correct session to select is 5:00 PM EST to 5:00 PM EST. And this is also the simplest solution.


Reply With Quote
The following user says Thank You to Joseph689 for this post:

Reply



futures io > > > > Asia open confusion

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
ZB calculation confusion.... mdsvtr Bonds and Interest Rates Trading 7 May 28th, 2015 09:27 AM
Selloff to Continue at European Open as Wall St, Asia Plunge Quick Summary News and Current Events 0 August 5th, 2011 02:40 AM
Asia Stocks Drop at Open; Some See Opportunities Quick Summary News and Current Events 0 August 4th, 2011 10:00 PM
Confusion about globex open vs pit settle nepenthean Beginners and Introductions 6 October 7th, 2010 11:26 PM
Volitility indicator question - Open - Open / open - close / close to open andresimon NinjaTrader 2 September 27th, 2010 01:33 AM


All times are GMT -4. The time now is 10:37 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-10 in 0.09 seconds with 19 queries on phoenix via your IP 54.221.73.186