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Advice on 24 hour Asian Futures Markets
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Advice on 24 hour Asian Futures Markets

  #11 (permalink)
Trading Apprentice
Sydney
 
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i960 View Post
It's tradable but the volume is about 10x less than the 225 mini contract on JPX which is 1M+ lots a day. Even the full size contract on Osaka does the same volume or more as the NKD contract. Singapore has a similar contract on SGX that's comparable in liquidity.

I'm not a volume profile trader, so volume doesn't interest me as much as long as I have good fills without slippage due to small gaps.
The issue for me is that my strategy works best on 24 hour markets, so with NK on OSE having 2 sessions per day (with associated gaps) is no good for me.

That's why I was looking at the NKD as an option in Asia perhaps...or any others...

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  #12 (permalink)
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cencored View Post
I'm not a volume profile trader, so volume doesn't interest me as much as long as I have good fills without slippage due to small gaps.
The issue for me is that my strategy works best on 24 hour markets, so with NK on OSE having 2 sessions per day (with associated gaps) is no good for me.

That's why I was looking at the NKD as an option in Asia perhaps...or any others...

It's not any different than the CME contract. There is *no* contract open 24 hours a day without a close or maintenance period. That goes for N225, to ES, to CL, to anything really.

For instance, DAX and ESTX are closed during the Asian session. Only FTSE is open and liquidity is slim. N225 is mostly open with about a 3 hour close between the end of US session to the start of the Asian session, so it's not really closed during a hugely active period. I know NKD and NKY trade during those periods but I've always been skeptical of what they even represent during the time the *actual* Nikkei is closed as it's not the real Nikkei market. So in short, you won't find a 24h contract anywhere unless you consider ES with an hour or so gap to be what you're talking about.

I do also recommend trading SPI - which is the ASX200 on SFE. Out of all the "Asian" contracts I'd probably choose that one or N225 if I only had one to choose.

With regard to volume it's not about volume profile but actual liqudity. N225M trades in huge size with lots of liquidity whereas NKD does not.

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  #13 (permalink)
Trading Apprentice
Sydney
 
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i960 View Post
It's not any different than the CME contract. There is *no* contract open 24 hours a day without a close or maintenance period. That goes for N225, to ES, to CL, to anything really.

For instance, DAX and ESTX are closed during the Asian session. Only FTSE is open and liquidity is slim. N225 is mostly open with about a 3 hour close between the end of US session to the start of the Asian session, so it's not really closed during a hugely active period. I know NKD and NKY trade during those periods but I've always been skeptical of what they even represent during the time the *actual* Nikkei is closed as it's not the real Nikkei market. So in short, you won't find a 24h contract anywhere unless you consider ES with an hour or so gap to be what you're talking about.

I do also recommend trading SPI - which is the ASX200 on SFE. Out of all the "Asian" contracts I'd probably choose that one or N225 if I only had one to choose.

With regard to volume it's not about volume profile but actual liqudity. N225M trades in huge size with lots of liquidity whereas NKD does not.

Yes I'm aware ES closes for an hour, that's ok for me. What I can't live with is instruments like the Dax which is closed for half the day or so.

An hour or two or three may be fine if it's at a slow time of day where market will not open up again with a huge gap.
I suppose that's what it boils down to for me.

SPI has a large gap for me so it's not an option unfortunately.
It looks like there is no way around Nikkei on OSE then.

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  #14 (permalink)
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This is a one hour chart of NK on OSE. It's got more holes than swiss cheese.
So unfortunately with the amount of gaps it would be not suitable for me I think.

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Other than for scalpers, it looks completely unusable to me...


Last edited by cencored; July 24th, 2016 at 05:58 AM.
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  #15 (permalink)
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No need to be rude Traderwerks. Why am I complaining? I'm generally interested in this topic or I wouldn't have started it.

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  #16 (permalink)
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It looks like the default session times were set incorrectly by SC. I had to activate the evening session manually. Although I'm not sure if the session times are correct. Certainly some of the bigger gaps have disappeared.

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Does this look accurate now?

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  #17 (permalink)
 Vendor: www.traderwerks.com 
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cencored View Post
No need to be rude Traderwerks. Why am I complaining? I'm generally interested in this topic or I wouldn't have started it.

It was in post #11 you said trading the NK on OSE was no good for you, so I thought you were trolling a bit when you posted a chart about gaps in something that you probably would not trade..

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  #18 (permalink)
 Vendor: www.traderwerks.com 
Taipei Taiwan
 
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cencored View Post
It looks like the default session times were set incorrectly by SC. I had to activate the evening session manually. Although I'm not sure if the session times are correct. Certainly some of the bigger gaps have disappeared.

Does this look accurate now?


I have manual setting for session times for the OSE, I think most platform vendors don't keep up. They just expanded their hours on Tuesday by the way. There are always some gaps, but they are not really that drastic unless some news comes out before the open. The Nikkei evening session opens with the London open and closes after the US market closes, the market is open and usually pretty liquid with a few hundred lots on each price level.


Your chart looks right to me, here is my hourly chart.

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  #19 (permalink)
Trading Apprentice
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traderwerks View Post
I have manual setting for session times for the OSE, I think most platform vendors don't keep up. They just expanded their hours on Tuesday by the way. There are always some gaps, but they are not really that drastic unless some news comes out before the open. The Nikkei evening session opens with the London open and closes after the US market closes, the market is open and usually pretty liquid with a few hundred lots on each price level.


Your chart looks right to me, here is my hourly chart.

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That's interesting, they just expanded it did they? How exactly? Looking at this
it seems like they've extended the evening session...
SC default seems to be 10am (sydney time) to 4.10pm and then 5.30pm to 4am still. I suppose it's what you mean by the brokers don't keep up

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  #20 (permalink)
 Vendor: www.traderwerks.com 
Taipei Taiwan
 
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cencored View Post
That's interesting, they just expanded it did they? How exactly? Looking at this
it seems like they've extended the evening session...
SC default seems to be 10am (sydney time) to 4.10pm and then 5.30pm to 4am still. I suppose it's what you mean by the brokers don't keep up

SC & MC both have messed up session times.

They also started the day session 15 min earlier at 8:45 ( 9:45 Sydney time). The stock market opens at 10:00, so there is now 15 min of pre market trading in the future. It has only been a week, so I am still just watching the pre-open to see if I can glean any information from it.

The close now is 5:30 ( 6:30 am Sydney time).

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