NexusFi: Find Your Edge


Home Menu

 





Correct Session Template for 6B in NT7


Discussion in NinjaTrader

Updated
      Top Posters
    1. looks_one Fat Tails with 3 posts (7 thanks)
    2. looks_two cw30000 with 1 posts (0 thanks)
    3. looks_3 skyfly with 1 posts (0 thanks)
    4. looks_4 Quick Summary with 1 posts (0 thanks)
    1. trending_up 5,079 views
    2. thumb_up 7 thanks given
    3. group 2 followers
    1. forum 6 posts
    2. attach_file 2 attachments




 
Search this Thread

Correct Session Template for 6B in NT7

  #1 (permalink)
 skyfly 
Texas
 
Posts: 113 since Jun 2010

Ok could someone tell me the correct session template for 6B for RTH, and how much is it per tick? What are start and end times? I'm in Texas. Thanks for any help.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
ZombieSqueeze
Platforms and Indicators
Request for MACD with option to use different MAs for fa …
NinjaTrader
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Retail Trading As An Industry
58 thanks
Battlestations: Show us your trading desks!
55 thanks
NexusFi site changelog and issues/problem reporting
48 thanks
What percentage per day is possible? [Poll]
31 thanks
GFIs1 1 DAX trade per day journal
29 thanks

  #3 (permalink)
 cw30000 
new york
 
Experience: Beginner
Platform: SC, NT
Trading: CL, GC
Posts: 206 since Sep 2009
Thanks Given: 99
Thanks Received: 113


RTH is the pit hour. For for currencies, it is 7:20 AM to 2PM CT

Visit my NexusFi Trade Journal Reply With Quote
  #4 (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

If you look at the hourly ranges of the last 20 weeks, you will find that the volatility of the London session is equal to the volatility of the New York session. This shows that the FOREX volume traded prior to the New York open is as important as the volume traded during the London/New York overlap.

It therefore simply does not make sense to use a RTH template for 6B (or GBPUSD). What are you going to do with that template?

Even if you only trade the US session, you will certainly want to know where 6B or GBPUSD have traded during the European session.


Reply With Quote
The following 3 users say Thank You to Fat Tails for this post:
  #5 (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

I use two different session templates with FX futures. This really depends on the indicator settings that I apply.

Usually I ignore the RTH session for currency futures, but assume that they behave in a similar way as the underlying FOREX market. In this case I use the first template, which divides the day into the Asian, European and US session. With this template I can calculate ETH pivots and volatility and noise bands for each of the three sessions.

If I really want to have a look at the RTH session, as per contract specifications of the currency futures, I take the second template, which also will allow to display RTH pivots.

The templates are attached below. Session times are Central Time (CME).

Attached Thumbnails
Click image for larger version

Name:	Session Template FX Futures 1.JPG
Views:	289
Size:	45.4 KB
ID:	38684   Click image for larger version

Name:	Session Template FX Futures 2.JPG
Views:	255
Size:	45.5 KB
ID:	38685  
Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:
  #6 (permalink)
 
Serninja's Avatar
 Serninja 
Germany
 
Experience: Intermediate
Platform: NinjaTrader
Posts: 55 since Mar 2010
Thanks Given: 87
Thanks Received: 31

Fat Tails,

may I ask you how you would set up the session template for the Dollar Index (USDX) which is traded on the ICE?

Thank you very much.

Kind regards,
Serninja

Reply With Quote
  #7 (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


Serninja View Post
Fat Tails,

may I ask you how you would set up the session template for the Dollar Index (USDX) which is traded on the ICE?

Thank you very much.

Kind regards,
Serninja

The volume of the DX is not impressive, so I do not trade it directly, but use it as a reference to look for correlation. DX does not have a RTH session, as it is only traded electronically. As it represents a basket of currency I would use a template that reflects the FOREX templates, modified for trading times of DX.

Template A

Full Session: 6:00*)/ 8:00 PM Est - 5:00 PM Est next day.

Template B

Divide template A in three sub-sessions.

6:00*)/8:00 PM Est - 2:00 AM Est (Asian session)
2:00 AM Est - 8:00 AM Est (European session)
8:00 AM Est - 5:00 PM Est (US session)

*) Sunday evening session starts earlier.

Reply With Quote
The following 2 users say Thank You to Fat Tails for this post:





Last Updated on May 24, 2011


© 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