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

  #31 (permalink)
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I put my clock to EST.

Quoting 
For NinjaTrader there is no reason to use a different time zone then your local time zone.

I disagree.
I do mostly auto trading and the daylight saving time change is the thing that bothers me.
US and my local don't start/end at the same day.

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  #32 (permalink)
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baruchs View Post
I put my clock to EST.

I disagree.
I do mostly auto trading and the daylight saving time change is the thing that bothers me.
US and my local don't start/end at the same day.

With the NinjaTrader session manager there is a powerful tool to handle all daylight savings times issues automatically.

Of course if you use indicators which do not use the tools - that is session templates - to the proper conversion, then it is painful to adapt to the daylight savings time.

All that is needed is to run strategies and backtests for each instrument with a proper session template - and when time filters are used, use Timespan objects to indicate the time elapsed since the start of the session.

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  #33 (permalink)
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Fat Tails View Post
With the NinjaTrader session manager there is a powerful tool to handle all daylight savings times issues automatically.

Of course if you use indicators which do not use the tools - that is session templates - to the proper conversion, then it is painful to adapt to the daylight savings time.

All that is needed is to run strategies and back tests for each instrument with a proper session template - and when time filters are used, use Timespan objects to indicate the time elapsed since the start of the session.

I always want to learn new tricks, so please explain.
If you live in Europe and your local time is GMT+1, then your regular RTH session for eminies will be 14:30-22:15.
Now if Europe changes the clock to summer time or winter time not at the same time as US, you have two options for live trading:
Move your computer clock or use a new session template (15:30-23:15 or 13:30-21:15).
You also need to be aware when the US catches up.
That's what I know, maybe you have another option.
This is for live trading, but how you keep the template dynamic for back testing?
Baruch,
p.s.
I even don't want to bother the form with our local situation, that each year the winter and summer times start at different days.

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  #34 (permalink)
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baruchs View Post
Now if Europe changes the clock to summer time or winter time not at the same time as US, you have two options for live trading:
Move your computer clock or use a new session template (15:30-23:15 or 13:30-21:15).

@baruchs: My answer is no.

When Europe changes the time I simply do nothing. The local time is not important, you may select whatever you wish. Therefore I use the local time that I am used to, which is Central European Time.

There is only one thing that is important:

The time zone of the session template used for the chart needs to be the timezone of the exchange, where the instrument displayed on the chart is traded.


For example:

- For a FDAX chart I use specific EUREX session templates (for example EUREX Equity Index Futures) which are set in Central European Time (CET).
- For a CL chart I use specific NYMEX session templates (for example NYMEX Metals/Energy ETH) which are set in Eastern Standard Time (EST)
- For a ES chart I use specific CME session templates (for example CME Equity Index Futures) which are set in Central Time (CT).

If you stick to the rule that the time zone of the session template must match the time zone of the exchange where the instrument is traded, you will never ever run into trouble. NinjaTrader will automatically shift all session start and end times as needed.

Best Practice:

Open the instrument manager and make sure that the master data for each instrument shows the appropriate session template. Save the instrument settings. Open all your charts with the session template <instrument settings>. Never ever use session templates such as 24/7, as there is no instrument in the world of trading that matches such a trading day.

Bonus:

The SessionPivots, SessionVWAPs, SessionTWAPs, RollingPivots, OpeningRange and InitialBalanceRangeBands indicators all auto-adjust to the selected session templates and further auto-adjust to all known DST schedules as needed.

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  #35 (permalink)
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Thanks Fat tails for the explanation.
Does it works also in back testing?

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  #36 (permalink)
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baruchs View Post
Thanks Fat tails for the explanation.
Does it works also in back testing?

Yes, it also works in backtesting. When you open the strategy analyzer, make sure to select the correct session template, for example <instrument settings>. The session template must use the same time zone as the exchange where the instrument is traded.

Of course, if you start a back test on the FDAX with a session template 24/7, it will not work, because that session template is in EST.

You can also do portfolio backtest with the session template <instrument settings>, as this will allow to backtest each instrument against its own trading times. Portfolio backtests which use other session templates than <instrument settings> and which involve several time zones will always produce false results.

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