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Correct Session Template for 6B in NT7
Started:May 15th, 2011 (12:12 AM) by skyfly Views / Replies:1,455 / 6
Last Reply:May 24th, 2011 (03:20 PM) Attachments:2

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Correct Session Template for 6B in NT7

Old May 15th, 2011, 12:12 AM   #1 (permalink)
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Correct Session Template for 6B in NT7

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.

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Old May 15th, 2011, 12:12 AM   #2 (permalink)
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Old May 15th, 2011, 07:23 AM   #3 (permalink)
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RTH is the pit hour. For for currencies, it is 7:20 AM to 2PM CT

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Old May 15th, 2011, 09:05 AM   #4 (permalink)
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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.

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Old May 16th, 2011, 05:08 AM   #5 (permalink)
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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
Correct Session Template for 6B in NT7-session-template-fx-futures-1.jpg   Correct Session Template for 6B in NT7-session-template-fx-futures-2.jpg  
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Old May 24th, 2011, 01:54 PM   #6 (permalink)
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The ICE U.S. Dollar Index (USDX) futures contract

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

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Old May 24th, 2011, 03:20 PM   #7 (permalink)
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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.

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6b, ai, cme, correlation, currencies, currency, currency futures, day, dollar, dollar index, european, forex, forex market, futures, fx, gbpusd, index, indicator, indicators, market, nt, nt7, open, pivots, session, session templates, settings, start, template, texas, tick, trading, volatility, volume
     

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