Does anyone trade DAX, Nikkei, and Hang Sang futures overnight?
I'm working on the Ninja Trader platform, and I'm interested in scalping the overnight action over seas.
Are these index futures as liquid as the ES?
What tickers symbols should I use if I'm interested in receive the data on these futures?
What do I need to know about currency exchange? I'm in the USA using Dollars, so how to I handle this?
The HSI is as thin as the Dax, thinner even. It's a fast market like CL or GC. So much thinner in the book than the ES even during globex. One decent size lot will sweep the bid or offer several levels. There is also the HHI that's a little thicker and less volatile. You can watch them together with the Xina50 for confluence. Interactive brokers offer all the contracts. Currency conversions are automatic.
Getting data for volume profiles is difficulty and for this reason I don't trade them any more. I'll wait until we move to Brisbane and I can get a Macquarie account with decent cqg data for these.
The Dax might be a bit early for you on the west coast....
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HSI futures are great. Comparible to FDAX and TF if that's what you like. Obviously not as liquid as Nikkei or ES but they are totally different contracts in the way they behave. Liquidity and volatility have to be considered together. HSI will move 100 points at open and Nikkei won't even come close to that, so you can trade way less size if you can pick a turn and have a short stop.
I found the headline all in commission on HSI significantly more than FDAX (HSI = more than 2/3s of a tick and FDAX= less than a third of a tick) however the slippage is no where near as bad so the actual trading cost is much less than FDAX.
As stated getting unfiltered tick data is a pain. CQG and Esignal are pretty much only options. IB data is ok if you trade minute data but no good for exotic bars or sub minute.
I would have thought HSI would have been popular for US based traders starting out. The HK dollar is pegged to the US dollar (pretty much) and you can still have a day job when you are starting out with the market opening after work hours on east coast. But most have the blinkers on and only look at US and Euro markets. There are a heap of excellent alternative contracts in Asia that are similar to Large US contracts for example Nikkei is a great alternative to ES and FESX. Very similar if that's what you like.
Last edited by samsupertrader; June 21st, 2016 at 06:48 AM.
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Nikkei 225 Mini traded on the Osaka Securities Exchange is the most liquid futures contract in all of Asia. If you want to trade in the evening, it is the closest thing to trading US index futures due to its institutional liquidity. Look into AMP to trade it, as they offer CQG data for the instrument and will match IB's commissions. I used to use IB but the data service was terrible for intraday purposes.
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