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Looking for an active market to watch from 10 pm EST.


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Looking for an active market to watch from 10 pm EST.

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  #1 (permalink)
swimmus
Charlottesville, VA USA
 
 
Posts: 4 since Oct 2019
Thanks: 3 given, 6 received

I get off work at 10 pm EST and have a couple of hours to kill. I would like to watch an active market, maybe nikkie index? Would like to practice on the DOM and I am going through The Gauntlet mini, so limited to what I have access too. Any suggestions? Thanks.

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  #3 (permalink)
 josh 
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
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Posts: 5,469 since Jan 2011
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I will get to your question in a moment, but please allow me to make a recommendation, after I looked up what the "Gauntlet Mini" is.

<SOAPBOX>
It seems you have access to a limited number of instruments, must close positions by the close, pay your own data fees, and pay a monthly fee, become subject to restrictions (no position for the 2 minutes surrounding a news release) all for the "benefit" of practicing with no risk. All with the promise of receiving a funded account.

In an attempt to reduce your risk, you stunt your growth by failing to come face to face with the fear of losing. You cannot learn to trade by trying to avoid losses. Ironically, trying to reduce your risk in this way will cause you to lose more. You must fully accept losing -- this is the only way to win. For $100, they let you reset your account. Oh boy. LOL. What I wouldn't give for that feature!

For the cost of about 2-3 months, you can open an account with no such restrictions and actually work on this highly important facet of trading (learning to lose). By the way, I have done this type of thing before with TST and passed, so I'm talking about this from experience.

It's a great business model -- provide very little of value except a promise to fund you, knowing that a very small percentage will, and those will either make them money, or will have such a tight leash that they risk next to nothing and will cut their small losses. They can put up intraday margins for you for peanuts, make you get flat before the close, and they make out like a bandit. Hell of a way to make money.
</SOAPBOX>

Some options for you: (times in EST -- for EDT, add 1 hour to all times)
The Nikkei trades from 7pm (6:45 open) to 1am, with a lunch from 9:30pm to 10:30pm (the market still trades).
Hang Seng trades from 8:30pm (8:15 open) to 11:00pm, with an actual close for lunch until midnight, then trades until 3am (same hours as the US trading day).

The best broker options for these contracts is AMP futures. The HSI will eat you alive, most likely, as even the mini HSI is only ~$1.25 per tick but it is quite wild and has a 3-4 tick spread most of the time. To move 15 ticks in a second is not unusual at all. Think of the dow, mixed with crude oil, with a dash of the Dax, and you have some idea. The Nikkei is a bit more stable, as it is very thick book, but it can also move quite rapidly at times, so, like ES, it seems calm, but when it kicks you in the nuts, it hurts. Nikkeis are ~$5 per tick, which is reasonable, but margins are $500 so it's not as leveraged as ES or MES.

Honestly, 10PM EST is a pretty bad time to trade either of these markets. It's lunch in Japan, with lunch in China just around the corner. They've usually made their big moves and are usually not too active. Nikkeis will sometimes make a pre-close or post-close move around 12:45am to 1:15am, but it's not usually too exciting. And HSI tends to put in the bulk of its range pre-lunch. I don't mean to be discouraging, just trying to be informative about your specific time window. If markets are active, you can also trade the ES/MES -- it's liquid enough, and MES provides a very cheap per-tick option with minimal margin requirements (say $40/50 per contract).

By the way: please don't try to watch CME's Nikkei contract. It is not active or tradeable and the ladder will tell you nothing there. The MJNK contract is the one you'd want to watch, through the TSE (see AMP's web site for info). If I can help further please let me know; I've tried to get the word out for those who want to trade evenings about these two markets, as I actively trade them for the first 3 or so hours, typically.

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  #4 (permalink)
swimmus
Charlottesville, VA USA
 
 
Posts: 4 since Oct 2019
Thanks: 3 given, 6 received

Thanks for the input. Not new, traded stocks in the past and made a modest amount before life changes. Futures is new so a funded account looked like a good way to go and practice on a good sim. Eventually, I will need to take the training wheels off and make or break with some real money.

Thnaks for your input

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Last Updated on December 28, 2019


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