NexusFi: Find Your Edge


Home Menu

 





Do you set your time zone EST?


Discussion in Tech Support

Updated
      Top Posters
    1. looks_one Fat Tails with 10 posts (15 thanks)
    2. looks_two Big Mike with 3 posts (0 thanks)
    3. looks_3 baruchs with 3 posts (0 thanks)
    4. looks_4 DarkPoolTrading with 3 posts (1 thanks)
      Best Posters
    1. looks_one keymoo with 2 thanks per post
    2. looks_two Fat Tails with 1.5 thanks per post
    3. looks_3 ratfink with 1 thanks per post
    4. looks_4 Mobiius with 1 thanks per post
    1. trending_up 15,997 views
    2. thumb_up 20 thanks given
    3. group 9 followers
    1. forum 35 posts
    2. attach_file 2 attachments




 
Search this Thread

Do you set your time zone EST?

  #21 (permalink)
StockHunter
Denver, CO USA
 
Posts: 15 since Sep 2012
Thanks Given: 1
Thanks Received: 9

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.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
ZombieSqueeze
Platforms and Indicators
Deepmoney LLM
Elite Quantitative GenAI/LLM
NexusFi Journal Challenge - April 2024
Feedback and Announcements
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Futures True Range Report
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
38 thanks
NexusFi site changelog and issues/problem reporting
27 thanks
GFIs1 1 DAX trade per day journal
18 thanks
The Program
18 thanks
  #22 (permalink)
 
DarkPoolTrading's Avatar
 DarkPoolTrading   is a Vendor
 
Posts: 1,036 since May 2012
Thanks Given: 1,244
Thanks Received: 1,326

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
Follow me on Twitter Reply With Quote
  #23 (permalink)
 
DarkPoolTrading's Avatar
 DarkPoolTrading   is a Vendor
 
Posts: 1,036 since May 2012
Thanks Given: 1,244
Thanks Received: 1,326



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.

Diversification is the only free lunch
Follow me on Twitter Reply With Quote
  #24 (permalink)
 
ratfink's Avatar
 ratfink 
Birmingham UK
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
Posts: 3,633 since Dec 2012
Thanks Given: 17,423
Thanks Received: 8,425


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
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #25 (permalink)
 
DarkPoolTrading's Avatar
 DarkPoolTrading   is a Vendor
 
Posts: 1,036 since May 2012
Thanks Given: 1,244
Thanks Received: 1,326


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.

Diversification is the only free lunch
Follow me on Twitter Reply With Quote
Thanked by:
  #26 (permalink)
dimpledbrain
kuala lumpur malaysia
 
Posts: 30 since Jun 2013
Thanks Given: 17
Thanks Received: 0


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
Click image for larger version

Name:	tick.jpg
Views:	225
Size:	132.5 KB
ID:	137318   Click image for larger version

Name:	daily.jpg
Views:	228
Size:	84.7 KB
ID:	137319  
Reply With Quote
  #27 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102


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.

Reply With Quote
Thanked by:
  #28 (permalink)
dimpledbrain
kuala lumpur malaysia
 
Posts: 30 since Jun 2013
Thanks Given: 17
Thanks Received: 0

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

Reply With Quote
  #29 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102


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.

Reply With Quote
Thanked by:
  #30 (permalink)
 
sands's Avatar
 sands 
London + UK
 
Experience: Advanced
Platform: Proprietary Analytics
Broker: Multiple broker + Multiple feed
Trading: Currently European and US equities
Posts: 443 since Dec 2013
Thanks Given: 257
Thanks Received: 234


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.

Reply With Quote




Last Updated on February 21, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts