LOL ... too true ... although its fair to say that this sort of move (240 points in the first hour) normally only follows a couple of days consolidation. Note friday and thursday on this 5m chart. If you look at HSI or SGXNK or even the kospi options I think you'll find some exciting day trading for the US evening. A question for IB. After the first big spike today my charting showed a high of 15615 (as did backfill). But TWS showed a high of the day of 15625. This occasionally happens after a spike and I assume the hod will be correct. Is that right? <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=987157>
At 9:54 the market was very thin and whipping around quote abit (cash wasn't open yet) The HOD at that time 15615. If you're looking at another time frame, let me know and I'll take a look later when I get a chance.
It was between 9:53 and 9:55 ... Sierrachart picked the top from tws at 15 but zeroline trader showed hod as 25 ... checked TWS High Status and it was then showing 25. I only ask because if the tws hod is catching the "transient" then I'll edit my data to get my support and resistance "right."
Just a few inquires... this looks quite interesting. Are foreigners allowed to trade the futures. i trade through ib. i've seen the hsi futures and they are a bit too wild for me. i might take a look at the nikkei, is the kospi ok too? where would be a good place to get info on the instruments? btw, am i correct in understanding that the increments of 5 we are talking about for the nikkei futs are 5 jpy? thanks.
in brief, a 5 point move (1 tick) in the nikkei is $25 USD a 1 pt move (1 tick)in the hang seng futures (HSI) is about $5 USD my understanding is that US citizens cannot legally trade options on these indexes. i have traded the hang seng and nikkei futures for some time. they are "fun". i use options strategies on the ETF's that cover these indexes (roughly, they are not exacty proxies, but EWJ and EWH chart pretty closely to the Nikkei and the HSI) like I said, HSI is DAX on Crystal Meth. kind of wild
Just to see if i have things straight, lets say a move from 15620 down to 15540 on the nikkei futs. so this is a total of 80 pts = 16 ticks (80 / 5). at more or less $21 per tick, we have 16 x 21 = $336 gross and at $5 commish, $331 net. is this correct?
if you can't make money on er2 don't dream about making money trading nikeee futures IB just wants you to waste commissions lol