I am going to do some backtesting for one of my strategies with the EC and I have a question for those who trade the Euro futures. What are some good price "reaction" times for the EC - like the open for the ES/YM/NQ at 09:30 est, or the open for the ZB at 08:20 est. I am sure the 03:00 est market open for the EU is one also - any others? Thanks - I have never traded the currencies before and I am not familiar with the Euro's "reaction" times other than the obvious.
5 - I love the EC and you pretty much got the 'standard' reaction times, although every day is a little different I suppose. I would recommend paying attention to when certain economic reports are, when Bernanke speaking (like today, but not till later in the day), etc.
So far I am backtesting the following times for the EC; 09:30 est 18:00 est (this time was advice from someone?) 03:00 est For the news release times I use a slightly different method - backtesting that set up also.
8:30 EST is the mother of euro reaction times, not 9:30 EST. 3 AM EST is number 2 and 10 AM EST is number 3. Forget about 8:20 AM ESTas a reaction time--that's positioning for the storm etc. I use the 8:20 to 8:30 time frame to enter on many days--but not on 5 minute charts--my trades are longer frames.
Excellent - thank you for the information! I have found some real good info in my backtesting so far - good price reaction plays with much more than enough follow through to make my hits.
I think 6E is the electronic contract while the EC was the traditional pit contract. When I check Genesis' data feed, it uses 6E for continuous electronic contract data.
http://www.cme.com/trading/prd/contract_spec_EC2465.html Product Code Clearing=EC Ticker=EC GLOBEX=6E AON=UG