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TFC Commodity Trading Forum

Re: Ng 7-10 set up/STR/TOM
In Response To: Re: Ng 7-10 set up/STR ()

Hi TOM,
I hear you !!!! For my "dime" all of this stuff creates a confusing mess !!!!
[I may put more here than you want to hear, but I consider it a "mess, and maybe can get much of it in one place - once and for all !! ]

This is the "short answer to your question:
The trading hours noted are what STR uses for the 7-10 bars.
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In addition:
Trades often uses the "day time hours" only for his "daily charts". I'll have to ask him just what those hours are, I don't recall exactly. I think the "over night trading" shows as "gaps" on his charts.
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For this: [I wrote it out, maybe will attract some comments particularly on settlement]
Restrict it to Futures contracts, and here specifically NGJ12.
- This is the contract STR and I have been commenting on/following for the 7-10 sequence.

The trading hours noted are what STR uses for the 7-10 bars. This is also consistent with what my Ox trading platform uses/calls "trading hours" for this product.
- It is 6pm eastern to 5.15pm eastern. (depending where you look, times may be expressed as CT, Central Time)

My charts and data stream for this product express time as "eastern", it will be different for other products !!!!
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Today, my "last trade" for NGJ12 at 5.15est was 2.289 on both chart and data stream.

Shortly after, it reverted to 2.272 which is/should be the day's "settlement price" which I think is arrived at at the end of the "day session/pit hours" and is the average of the last 15 trades. For the purpose (of what ever they use it for) but for one, I think it has to do with the daily calculation of gain/loss for tax purposes.
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Now it is 6.07 pm est, the market has resumed trading. All of the "settlement data" is gone, my last bar at afternoon close (5.14 est) correctly shows the last trade at 2.289. This market gapped up on 6pm est open and is now trading at 2.301 at 6.12 est.
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To further complicate things for ME, my 1 year, daily chart now has a "new 3/ 8 bar that only reflects the trading since the 6pm open - this will get corrected at midnight !!!!
- This is an Ox chart issue and I have to be careful not to take/use any data such as OHLC for the last bar until it "cleans up" !!!
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Maybe enough here .......
My short term chart "wish list" would be to get all "futures products" to display the same X axis times so that when you switch product charts you get a consistent display that you can compare !!!

If any Ox users know how to do this PLEASE COMMENT !!!!!
Thanks, Lee

TOM post:

I have never heard of anyone calling trading at night the start of a day. Is this a new trading approach or testing of a new idea. Most people seem to consider tarding days as the start of trading in the morning untill the close in the afternoon. And really don't count night trading at all.