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Do you set your time zone EST?
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Do you set your time zone EST?

  #21 (permalink)
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I keep my clocks at the timezone I live in (MST) and just do the quick calculations off the top of my head if I need to time something for EST or London.

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  #22 (permalink)
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Hey all,

Are there any suggestions for how to setup chart session times correctly when charting both the US and EU sessions.

For example say you want to trade the Euro and you would like to chart both the London and the US session. These are the periods where the most volume and volatility exists for this product. So the Asian session would be thought of as the overnight.

The problem comes in the fact that the London and US daylight savings times start/end at different times of the year. There is about 1-2 weeks difference coming into and out of daylight savings between London (EU) and US.

So if you were to use a London session template, the start time would always line up to the start of the London session. However when London goes into daylight savings, the US doesn't do so for another couple weeks.

This is not an issue for those trading US based products (eg: ES). However for Currency futures, there is no doubt that the majority of the volume and volatility happens during both the US and EU sessions.

This is only really a problem twice a year for 1-2 weeks. But never the less this screws with what you're seeing (especially gaps)

Any suggestions?

(I use Sierra Chart so would appreciate any direct advice on the platform. But any general non platform suggestions will help too)

thanks.

Diversification is the only free lunch

Last edited by DarkPoolTrading; November 19th, 2013 at 08:45 AM.
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  #23 (permalink)
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DarkPoolTrading View Post
Hey all,

Are there any suggestions for how to setup chart session times correctly when charting both the US and EU sessions.

For example say you want to trade the Euro and you would like to chart both the London and the US session. These are the periods where the most volume and volatility exists for this product. So the Asian session would be thought of as the overnight.

The problem comes in the fact that the London and US daylight savings times start/end at different times of the year. There is about 1-2 weeks difference coming into and out of daylight savings between London (EU) and US.

So if you were to use a London session template, the start time would always line up to the start of the London session. However when London goes into daylight savings, the US doesn't do so for another couple weeks.

This is not an issue for those trading US based products (eg: ES). However for Currency futures, there is no doubt that the majority of the volume and volatility happens during both the US and EU sessions.

This is only really a problem twice a year for 1-2 weeks. But never the less this screws with what you're seeing (especially gaps)

Any suggestions?

(I use Sierra Chart so would appreciate any direct advice on the platform. But any general non platform suggestions will help too)

thanks.

Giving this a quick bump and then ill shut up if no one responds. There's quite a few Euro traders on the forum. If you've ever wanted to only chart the EU + US session (ie: the highest volume and volatility periods), then the above issue will affect you. For US based products this isn't really an issue, but it certainly is for EU currency trading (eg: Euro, Pound).

thanks.

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  #24 (permalink)
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DarkPoolTrading View Post
Giving this a quick bump and then ill shut up if no one responds. There's quite a few Euro traders on the forum. If you've ever wanted to only chart the EU + US session (ie: the highest volume and volatility periods), then the above issue will affect you. For US based products this isn't really an issue, but it certainly is for EU currency trading (eg: Euro, Pound).

thanks.

I use several of the eth/rth session templates in Ninja, according to what I want to see for different instruments, rth patterns/highs/lows/fibs and eth highs/lows/fibs are all relevant. Interestingly, the one I am finding more useful now is the Eurex 14 hour period, basically it says Asia time doesn't currently matter anywhere near as much and, as it drives the 4 hour cycles, that works for me. I don't know SC so can't help there.

I have no good platform solution for the clock time-shift week(s), but then I am usually a screw-up at those times of year anyway, so gap concerns would just be white noise.

Travel Well

Last edited by ratfink; November 21st, 2013 at 01:00 PM.
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  #25 (permalink)
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ratfink View Post
I use several of the eth/rth session templates in Ninja, according to what I want to see for different instruments, rth patterns/highs/lows/fibs and eth highs/lows/fibs are all relevant. Interestingly, the one I am finding more useful now is the Eurex 14 hour period, basically it says Asia time doesn't currently matter anywhere near as much and, as it drives the 4 hour cycles, that works for me. I don't know SC so can't help there.

I have no good platform solution for the clock time-shift week(s), but then I am usually a screw-up at those times of year anyway, so gap concerns would just be white noise.

Thanks ratfink. I kind of figured there was no platform solution but thought id throw it out there just in case.

Im surprised that this hasn't come up more often, specifically with currency traders. The fact that daylight savings in the EU and US starts/ends a couple weeks apart makes a big difference in what you're looking at over that period.

thanks.

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  #26 (permalink)
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Fat Tails View Post
I am not married to any specific program, so I have the system clock of my PC set in my local time.

For NinjaTrader there is no reason to use a different time zone then your local time zone. There are two points that I would like to mention

-> make sure that all your session templates use the time zone of the exchange, where the instrument displayed is traded
-> when importing data make sure that you select the time zone, which has been used beforehand to store that data

@Fat Tails and others,

so I am going thru this thread and I got some questions:

(1) So I set my PC to my local time zone (GMT+8)
(2) When I load the templates (all CME Group products), by default, they will be on the time zone of the exchange because they have been preset per instrument manager. (I'll ignore 'importing data' for now as I don't know what it really does)
(3) I m looking at daily chart and tick chart. The tick chart is correctly displayed as per my local time zone (e.g. 4.13 pm 14 Feb 2014) but the daily chart is one day ahead (15 Feb 2014)...Did I miss out on something here? Refer to attachment

Attached Thumbnails
Do you set your time zone EST?-tick.jpg   Do you set your time zone EST?-daily.jpg  
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  #27 (permalink)
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dimpledbrain View Post
@Fat Tails and others,

so I am going thru this thread and I got some questions:

(1) So I set my PC to my local time zone (GMT+8)
(2) When I load the templates (all CME Group products), by default, they will be on the time zone of the exchange because they have been preset per instrument manager. (I'll ignore 'importing data' for now as I don't know what it really does)
(3) I m looking at daily chart and tick chart. The tick chart is correctly displayed as per my local time zone (e.g. 4.13 pm 14 Feb 2014) but the daily chart is one day ahead (15 Feb 2014)...Did I miss out on something here? Refer to attachment

@dimpledbrain: The session template is only applied to intraday charts such as minute or tick charts. All intraday charts are displayed in local time as selected for your PC. Session templates are used to determine the start and end of the contractual trading day.

If you look at a daily chart, the data is shown as supplied by your data provider. For example, if your data provider supplies daily bars with a time stamp (closing time) of 4:00 PM Central Time (for 6E), this time stamp is converted to your local time, which would be 6:00 AM next day. Yesterday's daily bar which closed at 4:00 PM on February 13, therefore got a time stamp at 6:00 AM on February 14. Therefore it is displayed with a date of February 14.

If you display a daily chart for a Malaysian or other Asian exchange, those bars will not be shifted forward by one day, because their time stamps are more or less in line with local time. There is nothing wrong with this ... the globe is round and somehow the charting software has to take that into account.

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  #28 (permalink)
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Hello @Fat Tails,

Ok, got it. So in this instance, I'll just have to read the daily chart and tick charts as it is now right? The daily chart bars will not be adjusted retrospectively right...meaning in this instance, it will always be 1 day ahead....

is my understanding correct...

I'm using kinetick btw..

thanks again

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  #29 (permalink)
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dimpledbrain View Post
Hello @Fat Tails,

Ok, got it. So in this instance, I'll just have to read the daily chart and tick charts as it is now right? The daily chart bars will not be adjusted retrospectively right...meaning in this instance, it will always be 1 day ahead....

is my understanding correct...

I'm using kinetick btw..

thanks again


Yes, the daily chart will always show 1 day ahead. This is because you are located in Malaysia.

6E closes a 4:00 PM CT. That means that a trader located in Athens will see the close at midnight local time and still have the correct trading day.

However, that same trader will get a daily bar with the date of the next day for CL, as CL closes at 5:15 PM EST, which is 0:15 AM in Athens.

Anybody located east of Athens will see the same behavior. Traders in Central Europe and further West are not affected, as the US trading day typically ends prior to 6:00 PM EST.

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  #30 (permalink)
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Local time all the way for me, I think I need to know when to go to sleep sometimes :-)

plus being in the UK is nice and central you can trade London hours and NY hours. Although i personally keep a second clock makes things a tad easier.

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