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I live in Australia and my time zone is UTC/GMT +10 hours, and I am 14 hours AHEAD of New York EST time.
I will trade instruments on CME with their RTH using the US RTH template.
And then I will also trade Eurex using Eurex RTH hours.
Now to my questions:
If I use US ETH session template, compared to US RTH template, will my daily chart look exactly the same or different?
Which template should I use so my minute charts(15 min, 60 min) look same, despite the time difference? I mean, I want my 15 min chart for NQ to look exactly same as I would have lived and worked in New York. Will they still look the same if I use Eurex RTH or US RTH templates on intra-day templates when I live in GMT+10 time-zone?
Please help me understand this, the Ninjatrader manual was not enough, I need a full and clear understanding regarding this.
Thank you!
Can you help answer these questions from other members on NexusFi?
Legendary / Stochastic Calculus is not your friend
Experience: None
Platform: Ninjatrader, Python API
Broker: CQG
Trading: S&P, Crude, Gold
Posts: 853 since Oct 2009
Thanks Given: 3,424
Thanks Received: 1,537
@warcious Always use exchange time in your ninja. Also, you need to use a multi-session template which you will have to build in your session manager. For more insight into this have a look at this thread by Fat Tails:
You mean always use RTH based on the exchange? Can you expand on this?
I want to trade the US market just like I would be sitting locally in the US. I am not sure if my 15min charts are presented equally if I use different session templates.
Legendary / Stochastic Calculus is not your friend
Experience: None
Platform: Ninjatrader, Python API
Broker: CQG
Trading: S&P, Crude, Gold
Posts: 853 since Oct 2009
Thanks Given: 3,424
Thanks Received: 1,537
You can set all your charts to the same multi-session template which will combine ETH and RTH. If you are trading CME then your session template will be set to US central (chicago) time.
The easiest thing to do is set your computer clock to US Eastern time or Central time if trading US markets. Then you can just get the sessions set up correctly and forget it. That's what I have done. Otherwise four times a year you are going to have to change session templates when the US clocks go backwards or forwards for daylight saving time at different times of the year to the Australian system which changes the number of hours offset for the US markets open and close for a few weeks each Spring and Autumn.
That is exactly what I did to save my willpower on more important things than keeping the time differences in my head all the time, I also have a dedicated computer for NT.
Is there a daytime saving issue between US and Eurex if I set my computer to local US RTH time.
The reason I ask about this is so my 15 min bars looks exactly the same using my local time, compared to if I would use 15 min bars on US RTH time.
@warcious
LOL. If you trade both US and European markets it is going to be tricky, especially for an Australian as your daylight saving time changes is on completely different dates to both the Europeans and the US.
Even if you set your clock to US or European time you would still need to adjust it for the other continent's markets if you wanted session opening times to be consistent with your charts (for that day forward). From that webpage I linked to you will see that the US and European clocks go out of sync for two weeks in the Spring and a week in the Autumn.
If you use the full electronic data sessions, ETH - Extended Trading Hours, it wouldn't make any difference on 15 minute bars, only on Daily bars if the high or low of the day happened to be set in the first or last hour of the day. Also if you were looking at longer timeframe charts, say 4hr bars then you would find that the bars are closing an hour earlier or later than they were the previous week. And if using some sort of pivots based on High Low Close values those values could change if your session doesn't match the actual country's times.
I leave my computer set on home time and make sure all templates are set with reference to the exchange time in the template manager. That way US/ETH/RTH/Eurex are always all correct. It's just different horses for courses again and our approaches are equally valid.
As an aside I found from experience that the weeks when the clocks have changed tend to trade 'differently' and are best treated as similar to Mercury retrograde periods. Or just periods in general.
ratfink, that would be ideal, but would the 15 min bars look exactly the same whatever local time I have set on my computer, i.e. my own local time, or US ETH/Eurex local time?
Only > 1 tick bars and weird bars like Renko, etcetera, have issues with session starts affecting their construction. Thinking more about it, it's not the session starts it's only really Historical reloads that affect tick bars in any case.
No problem with time bars construction, although you might also want to use one of the PC clock synchronise servers like Dimension 4 or similar.
